Global Crisis as a Consequence of Structural Changes in Economy

2009 ◽  
pp. 31-41 ◽  
Author(s):  
V. Danilov-Danilyan
Keyword(s):  
World Economy ◽  
Service Sector ◽  
Structural Changes ◽  
Oscillation Amplitude ◽  
Financial Economic ◽  
Real Sector ◽  
Economic Cycle ◽  
External Effects ◽  
The World ◽  
World Economic

The paper analyzes changes in the structure of the real sector of world economy that have increased economic instability and made the Keynesian methods inapplicable for suppressing the oscillation amplitude in economic cycle. The abrupt expansion of two segments in the service sector is noted: the debt derivatives market and entertainment industry. The global financial-economic crisis that started in 2008 cannot be attributed to the processes in the financial sphere alone it serves as a manifestation of general civilization crisis. Measures, analogous to the internalization of external effects, are proposed to mitigate the adverse impact of the hypertrophic development of new segments in the service sector on the world economic system and the civilization as a whole.

scholarly journals UNIVERSITIS TASKS THE STAFFING THE ECONOMY IN THE POSTPANDEMIC PERIOD

2020 ◽  
Vol 226 (6) ◽  
pp. 327-345
Author(s):  
VICTOR V. SHEKHOVTSOV ◽  
◽  
ALEXANDER S. PLOTNIKOV ◽  
OLGA V. FETISOVA ◽  
◽  
...  
Keyword(s):  
World Economy ◽  
Professional Training ◽  
Service Sector ◽  
Economic Recession ◽  
Real Sector ◽  
Highly Qualified ◽  
Current State ◽  
Volgograd Region ◽  
World Economic

This paper presents analysis of changes in Russian and world economic caused by coronavirus pandemic and economic recession. Only the most important companies of the real sector of the economy and the service sector have been working in conditions of the pandemic. But billions of subjects of small and medium business had to stop their work. It is predicted that world economy will have recession 3% minimum. Role of advanced professional training providing highly qualified stuff for economy in mentioned conditions becomes the major for post-crisis restoration. Current state of staffing of Volgograd region economy was analyzed along with the evaluation of prospective requirement in staff on economical activities types up to 2030. Also activities for providing of growth of high-productive working places and liquidation of stuff deficit are described. VSTU goals for recovery of stuff deficit during period of step out from crisis and further successful economic development are presented.

scholarly journals Structural transformation of the economy: practical aspects

2021 ◽  
pp. 19-27
Author(s):  
A. T. Abdikarimova ◽  
G. B. Aimagambetova
Keyword(s):  
World Bank ◽  
Structural Transformation ◽  
World Economy ◽  
Service Sector ◽  
Structural Changes ◽  
Rapid Change ◽  
Great Influence ◽  
The World Bank ◽  
The World ◽  
The Impact

The purpose of the article is to consider the practical aspects of the structural transformation of economy. Over the past few decades, absolutely all national economies have undergone structural changes, regardless of their size, economic system and all other political or economic differences. The transformation of structures was associated with many factors, including institutional changes, technological changes, the widespread introduction of the results of scientific and technological progress, globalization and integration processes. At the same time, it should be noted that not all structural changes had a positive effect for all countries, even though the changes had almost the same trend of growth in the share of the service sector, a decrease in the share of agriculture and manufacturing. This article is an attempt to systematize the main trends and consequences of structural transformations in the world. The authors put forward the hypothesis that the world economy tends to “servicization” and deindustrialization, which has dialectical significance for the world economy. To assess the structural changes, we analyzed the data of the World Bank to study the dynamics of changes in the sectoral structure of the countries of the world in the period from 1990 to 2019. A very great influence on these processes was exerted by globalization, which through its mechanisms made possible a rapid change in industry proportions not only in the developed world, but also in developing countries, while forming a global trend of “servicization” of the economy. The authors tried to conduct a comparative analysis of the impact of each economic sector on GDP using a regression model based on panel data from more than 180 countries of the world presented by the World Bank.

scholarly journals Methodical Approach to Activation of Technical and Technological Component of Enterprise Innovation in the Conditions of Digital Transformation of Socio-Economic Systems

2019 ◽  
Vol 8 (3C) ◽  
pp. 73-80
Keyword(s):  
World Economy ◽  
Structural Changes ◽  
Influence Factors ◽  
Digital Transformation ◽  
Technological Innovations ◽  
Economic Systems ◽  
Real Sector ◽  
The Real ◽  
The World ◽  
Integrated Performance

The main focus in the development of socio-economic formations, and in particular industrial production, is shifted to the use of fundamentally new progressive technologies (built on the principles of the active use of environmentally friendly materials, safe ways of disposing of production and human wastes, non-waste production, material and energy efficiency and etc.), modern outputs with new consumer properties. The need to accelerating the processes of digitalization and digital transformation of the economy is proved in order to achieve competitive positions in the emerging digital space of the new world economy. At the theoretical and methodological level, it has been proved that the development and implementation of mechanisms for controlling the technical and technological component of innovation in the context of the digital transformation of socio-economic systems will contribute to increasing the strategic potential of subjects of the real sector of the economy, increasing their adaptive capabilities and strengthening competitive advantages. In the new economic conditions, all domestic economic entities aiming at stable functioning are forced to go through the process of digital transformation, which is understood as the introduction of modern technologies into the business processes of socio-economic systems at all levels. It implies not only the installation of modern equipment or software, but also fundamental changes in approaches to management, corporate culture, and external communications. As a result, the profitability and business activity of the enterprise increase and it gains a reputation as a progressive and modern organization. Digitalization issues for the innovative development of Ukrainian industry are the number one priority. They find a place in specifying the development strategies of the leading sectors of the national economy, especially export-oriented ones. They provide the flow of processes based on digital technologies. More and more digital products are emerging that provide digital, computing, telecommunications, and networking devices. At the same time, the digital economy is increasingly seen as a set of social relations that are formed as a result of the use of electronic technologies, as well as technologies to ensure the analysis of large volumes of information to optimize the processes of forecasting, planning, output and consumption of science intensive and high-tech products, as well as increasing the level of economic development of the country. The systematization of scientific work in the field of studying the factors influencing the innovative activity of an enterprise made it possible to develop the following classification of factors influencing the effectiveness of innovative processes, as well as to justify groups of factors (barriers) that impede the development and implementation of technological innovations in the context of structural changes in the global economy caused by its digitalization. A very important stage in the development of relevant indicators is the formation of the information area on which they are defined. First of all, it is about the content of the initial indicators and their indicators, which are able to assess the effectiveness of the implementation of technical and technological innovations in enterprises of the real sector of the economy, while they should be objective characteristics of the relevant influence factors and can be obtained on the basis of official statistical information. The definition of the integrated performance index for the introduction of technical and technological innovations in enterprises of the real sector of the economy in the context of structural changes in the world economy caused by its digitalization and the corresponding sub-indices in its structure is based on a four-level hierarchical model, i.e., the integrated performance indicator is a vector with the types of sub-indices components on influence factors. The developed hierarchical model allows us to build several types of sub-indices, differentially by hierarchy levels, for a deeper analysis of the current level of effectiveness of the introduction of technical and technological innovations in enterprises of the real sector of the economy in the context of structural changes in the world economy caused by its digitalization. This approach provides an opportunity to accurately determine the main factors (and the degree of their impact) that affect the effectiveness of the introduction of technical and technological innovations in enterprises of the real sector of the economy in the context of structural changes in the world economy caused by its digitalization and justify management decisions in the structure of the corresponding management mechanism. The practical implementation of the methodology for assessing the effectiveness of the innovative economy activating in the context of structural changes in the world economy caused by its digitalization is based on statistical data on the value of the relevant indicators (financial, economic, socio-economic, technical, technological, institutional and legal factors) for a certain period of time. This involves the use of official materials of the State Statistics Service of Ukraine, namely: structural statistics indicators for business entities, indicators of cost, availability and condition of fixed assets of enterprises of Ukraine by type of economic activity, capital investment by type and source of formation, indices of industrial products produced and sold and other technical and economic indicators of industrial enterprises. As the main directions of enhancing and development of technical and technological innovations of enterprises in the real sector of the economy in the context of structural changes in the world economy caused by its digitalization we should consider: effective state support of innovative programs for the development of production enterprises (especially export-oriented), attraction of venture capital , increasing the financial stability of the enterprise, increasing the flexibility of production processes, the use of advanced methods of organizing production, labor and enterprise management.

The world and Russia: Inflation is minimal, economic growth is slowing, risks are rising

2019 ◽  
pp. 5-23 ◽  
Author(s):  
Mikhail V. Ershov ◽  
Anna S. Tanasova
Keyword(s):  
Economic Growth ◽  
Financial Markets ◽  
World Economy ◽  
Domestic Demand ◽  
New Combination ◽  
Russian Economy ◽  
The World ◽  
World Economic ◽  
Money Creation ◽  
Main Factors

Russian economy has reached the low level of inflation, but economic growth has not accelerated. Moreover, according to official forecasts, in the following years it will still be low. The article concludes that domestic demand, which is one of the main factors of growth, is significantly constrained by monetary, budgetary and fiscal spheres. The situation in the Russian economy is still hampered by the decline of the world economic growth. The prospects of financial markets are highly uncertain. This increases the possibility of crisis in the world. Leading countries widely use non-traditional measures to support their economies in the similar environment. In the world economy as well as in Russia a principally new combination of factors has emerged, which create specific features of economic growth. It requires special set of measures to stimulate such growth. The article proves that Russian regulators have large unused potential to stimulate growth. It includes monetization, long-money creation, budget and tax stimuli. It is important that the instruments, which will be used, should be based on domestic mechanisms. This will strengthen financial basis of the economy and may encourage economic growth. Some specific suggestions as to their use are made.

The World Economy through the Lens of the United Nations

2018 ◽  
Keyword(s):  
World War Ii ◽  
United Nations ◽  
Global Economy ◽  
World Economy ◽  
Social Conditions ◽  
Policy Recommendations ◽  
The Past ◽  
The World ◽  
World Economic ◽  
The United Nations

This volume documents the intellectual influence of the United Nations through its flagship publication, the World Economic and Social Survey (WESS) on its seventieth anniversary. Prepared at the Department of Economic and Social Affairs (DESA) and first published in 1948 as the World Economic Report (subsequently renamed the WESS), it is the oldest continuous post-World War II publication of this kind, recording and analysing the performance of the global economy and social development trends, and offering relevant policy recommendations. This volume highlights how well WESS has tracked global economic and social conditions, and how its analyses have influenced and have been influenced by the prevailing discourse over the past seven decades. The volume critically reflects on its policy recommendations and their influence on actual policymaking and the shaping of the world economy. Although world economic and social conditions have changed significantly over the past seven decades and so have the policy recommendations of the Survey, some of its earlier recommendations remain relevant today; recommendations in WESS provided seven decades ago seem remarkably pertinent as the world currently struggles to regain high levels of employment and economic activity. Thus, in many ways, WESS was ahead of the curve on many substantive issues. Publication of this volume will enhance the interest of the wider community of policymakers, academics, development practitioners, and members of civil society in the analytical work of the UN in general and UN-DESA in particular.

Arrighi’s Theory of systemic cycles of capital accumulation as a mechanism of cyclical development of the Global Economy

2021 ◽  
pp. 966-981
Author(s):  
Sergey Gennadyevich Kapkanshchikov
Keyword(s):  
Capital Accumulation ◽  
World Economy ◽  
Global Analysis ◽  
Methodological Approach ◽  
The United States ◽  
State Regulation ◽  
Economic Order ◽  
The World ◽  
World Economic ◽  
World Economic Order

The article uses the methodology of systemic global analysis and the theory of systemic cycles of capital accumulation to argue that we are now at a turning point of the modern era in connection with the unfolding change in the dominant world economic order. Based on the methodological approach, within the framework of which there is a hegemonic country and the rest of the world, the forecast regarding the forthcoming multipolarity of the world economy is rejected. Various stages of capital and financial expansion with their inherent, respectively, dirigistic and liberal models of state regulation of the economy are compared to each other. A chronological overview of the Spanish-Genoese, Dutch, British, American and Asian accumulation cycles is presented. The patterns of their change in the course of the formation of new technological structures are revealed. The place of Russia in the process of natural evolution of world economic structures is also identified. The objective and subjective reasons for the longterm hegemony of the United States, as well as factors of the upcoming completion of the American cycle of capital accumulation in the foreseeable future, are revealed. The author outlines the tactics employed by the American authorities to counteract the objective hegemonic cycles. The reasons for the movement of the center of the world economy to the East Asian region are revealed, with the justification of the need for a natural inclusion of Russia in the functioning of the Asian world economic order.

POSSIBILITIES OF REALIZATION OF SERVICE SECTOR POTENTIAL IN THE GLOBAL ECONOMY

2021 ◽  
Author(s):  
Oksana Melnichuk
Keyword(s):  
International Trade ◽  
Gross Domestic Product ◽  
Global Economy ◽  
World Economy ◽  
Service Sector ◽  
Developing Economies ◽  
Domestic Product ◽  
Trade In Services ◽  
Services Sector ◽  
The World

The relevance of the study is due to the growing role of services in the world economy. Trade in services has become the dominant driver of economic growth and development in both developed and developing economies. Since the 1980s, data suggest that there is a stronger relationship between trade in services and gross domestic product (GDP) than in the case of commodity growth and GDP. It is noted that the quality of policies, regulations and institutional frameworks is a key factor in determining the effectiveness of services. As services are increasingly subject to liberalization through multilateral and regional trade agreements, it is important that countries develop harmonized approaches to internal regulation and trade liberalization in the services sector. The article identifies the features and characteristics of the service sector as a factor of multifaceted development and growth. The dynamics of international trade in services by geographical structure and types of development of countries is studied on the basis of statistical data of international organizations, taking into account the impact of the pandemic. It is noted that international trade in services is becoming an increasingly important part of global commerce. The problematic aspects of the activity of small business entities to enter foreign markets of services are considered. The issue of urgency of digital economy development for the sphere of services and contribution to world markets is outlined. Opening up the services sector has the potential to bring great benefits and deserves more attention. Further prospects for the realization of entrepreneurial potential in a comprehensive global economy are outlined. It is noted that services are an important part of the world economy, generating more than two-thirds of world gross domestic product (GDP), attracting more than three-quarters of foreign direct investment in developed economies, and creating most of new jobs worldwide. Establishing effective coordination mechanisms between trade negotiators, policymakers and regulators will be an important tool for the development of the global economy.

scholarly journals Structural changes and economic growth in the world economy and Russia

2019 ◽  
Vol 5 (1) ◽  
pp. 1-26 ◽  
Author(s):  
Valeriy V. Mironov ◽  
Liudmila D. Konovalova
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Global Economy ◽  
World Economy ◽  
Structural Changes ◽  
Russian Economy ◽  
The World ◽  
Preliminary Version ◽  
The One ◽  
Relationship Of

The article considers the problem of the relationship of structural changes and economic growth in the global economy and Russia in the framework of different methodological approaches. At the same time, the paper provides the analysis of complementarity of economic policy types, which, on the one hand, are aimed at developing the fundamentals of GDP growth (institutions, human capital and macroeconomic stabilization), and on the other hand, at initiating growth (with stable fundamentals) with the help of structural policy measures. In the study of structural changes in the global economy, new forms of policies of this kind have been revealed, in particular aimed at identifying sectors — drivers of economic growth based on a portfolio approach. In a given paper a preliminary version of the model of the Russian economy is provided, using a multisector version of the Thirlwall’s Law. Besides, the authors highlight a number of target parameters of indicators of competitiveness of the sectors of the Russian economy that allow us to expect its growth rate to accelerate above the exogenously given growth rate of the world economy.

scholarly journals Features of Corporate Management of Mergers and Acquisitions Processes

2020 ◽  
Vol 11 (514) ◽  
pp. 424-429
Author(s):  
O. V. Ptashchenko ◽  
Keyword(s):  
Mergers And Acquisitions ◽  
World Economy ◽  
Structural Changes ◽  
Social Situation ◽  
Corporate Management ◽  
Industrialized Countries ◽  
Modern Development ◽  
The World ◽  
Business Efficiency ◽  
History Of

The article examines the main features and identifies the main trends in the global M&A market. The modern development of the economy is characterized by the spread of the processes of globalization, and it can be noted that, one way or another, the latest waves of mergers and acquisitions are tightly related to the flow of these processes. The history of mergers and acquisitions processes in the world economy shows that all surges in mergers and acquisitions agreements were and are accounted for periods of structural changes, industrial rises, technological revolutions, significant organizational restructuring of the world economy. Mergers and acquisitions of companies are one of the most important business development instruments in the market economy. The purposes of these processes are often the growth of company and the use of various kinds of synergies, which is manifested in strengthening its impact on markets and improving business efficiency. Most mergers and acquisitions agreements are concluded by industrialized countries, their role is increasing for developing countries. The dynamics of the M&A processes market will largely depend on the ability of companies to enter into large contracts announced either at the end of the past year or earlier this year. Only then it could it be stated that the growth of activity in the mergers and acquisitions market has become a long-term trend. Many experts believe that a new wave of M&A will inevitably lead to an increase in unemployment, and this, in turn, will lead to an aggravation of the social situation and require additional costs from the budget.

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