Problems of the Evolution of the Comparative Capitalism Theory from the mid‑20th Century (On the Example of the Developed Countries)

2020 ◽  
pp. 7-20
Author(s):  
Mikhail M. Lobanov ◽  
Svetlana P. Glinkina
Keyword(s):  
Emerging Markets ◽  
Global Economy ◽  
Recovery Period ◽  
Developed Countries ◽  
Varieties Of Capitalism ◽  
Institutional Complementarity ◽  
Theoretical Substantiation ◽  
Scientific Discussion ◽  
Comparative Capitalism ◽  
The Developed Countries

In the late 20th and early 21st centuries the problem of theoretical substantiation of transnational differences in the forms of capitalist relations became the subject of a broad scientific discussion. Given article deals with the ideas about the causes and consequences of the differentiation of the principles of capitalist society organization, and the authors consciously limit its geographical coverage to developed countries. It was the states of the Core of World economy that were in the focus of publications of the second half of the 20th centurywhich used the methods of comparative analysis within the framework of the theories of regulation, developmentalism, dependent capitalism, neo-corporatism, post-Fordism, etc. Modern concepts of comparative capitalism, especially focusing on emerging markets, are based on a variety of approaches to distinguish national models of capitalist relations. Despite the pluralism of typological criteria, many of these approaches basically contain provisions of the “varieties of capitalism” theory (VoC) developed in the early 2000s. Relying on its key postulate on the existence of various types of institutional complementarity, the authors of given article explain the principles of divergence of liberal and coordinated market economies, as well as analyze the groundings for identifying a mixed type of capitalism. It should be noted that the prospects for the adaptation of provisions of “varieties of capitalism” binary theory to analyze the experience of countries with emerging markets, including post-socialist states, remain vague. It’s noteworthy, that during the post-crisis recovery period of the late 2000s the VoC approach has undergone a certain transformation under the influence of new conditions of global economy functioning, having opposed its own methodological flexibility to the spread of alternative theories of the organization of capitalist systems.

scholarly journals Why do developed economies become vulnerable to economic cycles

2020 ◽  
Vol 7 (3) ◽  
pp. 156-162
Author(s):  
Lilia Mykhailyshyn ◽  
Serhii Vasylchenko
Keyword(s):  
Emerging Markets ◽  
Global Economy ◽  
Developing Economies ◽  
Developed Countries ◽  
State Regulation ◽  
Tertiary Sector ◽  
Developed Economies ◽  
Cyclical Fluctuations ◽  
Significant Difference ◽  
The Developed Countries

The possible reasons for the intensification of cyclical fluctuations of the economies of the developed countries in the last decade are analyzed in the article. At the same time, the countries with risky markets (emerging markets and developing economies) are experiencing lower GDP losses during cyclical reductions of the economy. This is particularly paradoxical in view of the fact that developed economies are generally considered to be more stable and competitive. Besides, during the twentieth century, mankind has accumulated considerable experience in counteracting the cyclical nature of national economies and learned to smooth the amplitude of cyclical fluctuations. The authors of the article put forward and substantiate the assumption that the reason for the increase in the amplitude of cyclical fluctuations, increase of the depth of cyclical fluctuations of economies of the developed countries compared to the countries with emerging markets and developing economies, is the significant difference in the structure of these economies. The significant predominance of the tertiary sector in the developed economies makes them more vulnerable to cyclical fluctuations due to the greater multiplier effect that is inherent in the tertiary sector industries compared to other sectors of the economy. The conducted correlation analysis showed the presence of the strong relationship between such parameters of the economy as the share of the tertiary sector in the economy and the percentage value of the predicted economic recession in 2020 in the developed economies and emerging markets and developing economies. But it is necessary to keep in mind that the autonomous cost multiplier works in the opposite direction, accelerating the economic decline during the economic cycle. That is why, in our opinion, measures of state regulation of the economy today should be increasingly aimed at regulating the tertiary sector to prevent the increasing cyclicality of the modern global economy, as the leading economic leaders themselves are often becoming generators of the business cycle due to economic financialization and tertiary sector growth in general.

Sustainable Development and the Digital Divide Among OIC Countries

2010 ◽  
pp. 233-252
Author(s):  
Chamhuri Siwar ◽  
Abdul-Mumin Abdulai
Keyword(s):  
Digital Divide ◽  
Global Economy ◽  
Developed Countries ◽  
Information And Communications Technology ◽  
Scientific Development ◽  
Communications Technology ◽  
Information And Communications Technologies ◽  
Communications Technologies ◽  
The Developed Countries ◽  
Almost All

Undoubtedly, digital technology (DT) has revolutionalised information and communications technology (ICT) base of the global economy, which has impacted tremendously the socio-economic, political, cultural and scientific development in the majority of the world’s economies. The chapter examines “digital divide” in a broader perspective of information and communications technologies (ICTs) that encompass not only computers, but also telephone (line and cellular), television (TV), radio etc. It is an open secret that ICTs have played and will continue to play a pivotal role in sustaining economic development in the developed countries. Through ICTs, creating, storing and sharing enormous volume of information with relative ease in almost all the spheres of human endeavour have been made possible. The power inherent in ICT that can break up barriers and boundaries holding countries, continents and businesses miles apart can never be over-emphasized. Despite the attendant benefits of ICTs, there are still deep-seated ICT inequalities both within and among the Organization of the Islamic Conference (OIC) member countries. This chapter investigates the depth of the existing digital divide among the OIC member countries and to unearth the possible obstacles. Finally, some policy recommendations have been offered towards the end of the chapter.

Delivering MBA Programs in Emerging Markets

2013 ◽  
Vol 8 (3) ◽  
pp. 42-59 ◽  
Author(s):  
Stephanie Jones
Keyword(s):  
South America ◽  
Learning Styles ◽  
Emerging Markets ◽  
Arab World ◽  
Developed Countries ◽  
Course Delivery ◽  
The West ◽  
Mba Programs ◽  
Use Of Technology ◽  
The Developed Countries

Increasingly, Western-style MBA programs are being delivered in emerging markets, as the developed countries become more and more saturated with MBAs and related offerings. This article, based on the global experience of the author in teaching and assessing MBA modules including thesis and dissertation research and writing, suggests approaches to coping with the special challenges faced in new markets for MBA delivery worldwide. The differences with typical experiences in the West are cultural, linguistic, behavioral and relate to learning styles, economic backgrounds, use of technology, and relationships with administrators, teachers and fellow-students. This article is based on the author’s experiences of MBA course delivery in China, the Arab World, Africa, Iran, Malaysia and Indonesia, Vietnam, Eastern Europe, former Russian states such as Kazakhstan, and South America, such as Peru and Suriname. Examples of specific MBA teaching and assessment challenges are provided, with possible solutions and approaches for coping.

A Study on the Economic Benefits of Globalization: Focusing on the Poverty and Inequality between the Rich and the Poor

2009 ◽  
Vol 12 (2) ◽  
pp. 191-214 ◽  
Author(s):  
Sang-Hyup Shin
Keyword(s):  
Developing Countries ◽  
Global Economy ◽  
Developed Countries ◽  
Economic Benefits ◽  
Global Poverty ◽  
The Poor ◽  
Poverty And Inequality ◽  
The World ◽  
The Rich ◽  
The Developed Countries

Globalization is now well recognized by many as an inescapable feature of the world today. In particular, in the middle of global economic crisis globalization is one of the hot issues drawing much attention from countries around the world. There are contradictory perspectives on globalization. There are many sweeping statements that assert that economic globalization is increasing global poverty and inequality between the rich and the poor in the world. There are also many others who insist that the poverty and inequality issues have been resolved in some sense through globalization. In order to find the answer to the question, firstly the meaning of globalization was fully explained. Based on the understanding of globalization, the questions such as how globalization has contributed to reduce the economic gap between the developed and the developing countries, and to reduce the poverty by analyzing the economic growth, the number of people living below the absolute poverty line and so on were analyzed. The reasons why globalization is a good opportunity for some countries while some other countries get not something from the globalization was also discussed in this research. We found that globalization has contributed to reduce global poverty and to increase the welfare of both the developed and developing countries. However globalization has impacted different groups differently. Some have benefited enormously, while others have borne more of the costs. The developed countries could get more economic benefits from the less developed countries through globalization. This means, inequality between the rich and the poor countries still remained as a serious threat in the global economy. And even among the developing countries globalization has impacted differently. The trends toward faster growth and poverty reduction are strongest in developing economies that have integrated with the global economy most rapidly, which supports the view that integration has been a positive force for improving the lives of people in developing countries There are two main reasons for the inequality existing between the developed and developing countries. The fist one is the difference of economic size and power between the developed countries and the developing countries started to exist from the late 18th century. The second one is the differences in the management skill in taking advantage of the globalization.

scholarly journals How Does the Global Economy Crisis Influence in Managing Investment in Indonesia

The Winners ◽  
2012 ◽  
Vol 13 (2) ◽  
pp. 147
Author(s):  
Enggal Sriwardiningsih
Keyword(s):  
Developing Countries ◽  
Emerging Markets ◽  
Global Economy ◽  
Developed Countries ◽  
Subprime Mortgage ◽  
Poor Countries ◽  
Mortgage Crisis ◽  
The World ◽  
Liquidity Crisis ◽  
Growing Economy

July 2007 is the beginning of the world’s subprime mortgage crisis. Since then, the world’s liquidity crisis occurred and never found any solution until now. The liquidity crisis began to spread from developed countries to poor countries, developing countries and emerging markets with two channels. This contagious crisis made growing economy and emerging economy fell. No country in the world survived, including Indonesia. This paper discussed the management of investments in Indonesia. It started from the spread of global crisis to Indonesia and its impact on investment in Indonesia. Then, we discussed the government's efforts to encourage investment. The last was the view of the investment for the next three years (2010-2014)

An Overview of International Fintech Instruments Using Innovation Diffusion Theory Adoption Strategies

2021 ◽  
pp. 46-66
Author(s):  
Ebru E. Saygili ◽  
Tuncay Ercan
Keyword(s):  
Emerging Markets ◽  
Innovation Diffusion ◽  
Diffusion Theory ◽  
Developed Countries ◽  
Descriptive Statistics ◽  
Innovation Diffusion Theory ◽  
Money Transfer ◽  
Internet Penetration ◽  
The Developed Countries ◽  
The U.S

The aim of this chapter is to evaluate and predict the future of international fintech instruments in the domain of innovation diffusion theory (IDT) adoption strategies. Further, the consequences of the new payments system directive (PSD2) in Europe and blockchain applications are discussed. For instance, money transfer and payments have the highest rate of adoption (ROA) while insurance services have the highest speed of growing ROA due to relative advantages, high compatibility and trialability levels, and low level of complexity and uncertainty. Cross country comparisons include descriptive statistics about fintech deal value and volume, innovation rank, B2C commerce market, ROA and internet penetration. Germany is the only country listed in all of the top 10 ranking lists, followed by the U.S., the U.K., and France. Also, China, India, and Canada have distinguished success in terms of fintech indicators while the growth in Japan is expected to be slow. Accordingly, ROA in five emerging markets is much higher than some of the developed countries which can be explained by the Cancian Theory.

Sustainable Development and the Digital Divide Among OIC Countries

2013 ◽  
pp. 242-261
Author(s):  
Chamhuri Siwar ◽  
Abdul-Mumin Abdulai
Keyword(s):  
Digital Divide ◽  
Global Economy ◽  
Developed Countries ◽  
Information And Communications Technology ◽  
Scientific Development ◽  
Communications Technology ◽  
Information And Communications Technologies ◽  
Communications Technologies ◽  
The Developed Countries ◽  
Almost All

Undoubtedly, digital technology (DT) has revolutionalised information and communications technology (ICT) base of the global economy, which has impacted tremendously the socio-economic, political, cultural and scientific development in the majority of the world’s economies. The chapter examines “digital divide” in a broader perspective of information and communications technologies (ICTs) that encompass not only computers, but also telephone (line and cellular), television (TV), radio etc. It is an open secret that ICTs have played and will continue to play a pivotal role in sustaining economic development in the developed countries. Through ICTs, creating, storing and sharing enormous volume of information with relative ease in almost all the spheres of human endeavour have been made possible. The power inherent in ICT that can break up barriers and boundaries holding countries, continents and businesses miles apart can never be over-emphasized. Despite the attendant benefits of ICTs, there are still deep-seated ICT inequalities both within and among the Organization of the Islamic Conference (OIC) member countries. This chapter investigates the depth of the existing digital divide among the OIC member countries and to unearth the possible obstacles. Finally, some policy recommendations have been offered towards the end of the chapter.

scholarly journals Non Performing loans in BRICS Countries

2019 ◽  
Vol 8 (3S3) ◽  
pp. 625-630
Keyword(s):  
Global Economy ◽  
Developed Countries ◽  
Capital Adequacy ◽  
Business Failure ◽  
Budget Deficits ◽  
Balance Sheets ◽  
Brics Countries ◽  
Early Warning Mechanism ◽  
High Inflation ◽  
The Developed Countries

After 2008 most of the BRICS countries witnessed sharp decline in the growth. The reasons could be due to high inflation, regulatory and policy risks causing significant financial and operating stress across Steel, Textile, Infrastructure, Telecom sectors. There is a significant importance of BRICS counties in the global economy, but in past few years they are grappled with budget deficits, anemic growth rising unemployment and high rise of Non-performing assets. As per our review it is clear that there is a steep increase of NPAs in BRICS countries which adversely impacted banks by reducing their profits, decrease in lending and increase in provisioning impacted the economy. Some of the reasons are, majority of these financial institutions were not having holistic regulatory framework and early warning mechanism to assess the business conditions. Besides weak credit appraisal mechanisms and not having the timely investigation mechanism for analyzing the intent and business rational of default borrowers led to more NPAs. Non-performing assets were highly impacted by the macro-economic parameters of Capital adequacy ratio; NPAs to loans and Year wise provisioning for the loans were taken into consideration to analyze the NPAs status across BRICS countries. Banks need to identify the willful defaulter and genuine business failure and these cases should be treated in a different manner. In most of the developed countries bulk of the banks keep provisioning for any expected NPAs and these damages are written off at an initial stage and their balance sheets carry very little NPAs. Besides the recovery measures are also stringent for foreclosure of loans.

scholarly journals The Catch-up Process in a Global Economy: An Analytical Approach

1997 ◽  
Vol 2 (1) ◽  
pp. 19-29
Author(s):  
Irfan ul Haque
Keyword(s):  
Latin American ◽  
Economic Performance ◽  
Global Economy ◽  
Developed Countries ◽  
African Countries ◽  
Economics Profession ◽  
Catch Up ◽  
The Developed Countries ◽  
Latin American Countries ◽  
Better Than

The diverse growth experience of economies across the globe is perhaps the most intriguing question that the economics profession faces. The economies of East Asia have grown rapidly over the past three decades, while the economic performance of the South Asian and Latin American countries has been relatively mediocre, although better than that of the African countries, where the per capita incomes have been generally declining. Among the developed countries also, there has been considerable diversity of economic performance.

scholarly journals FDI into emerging markets

2020 ◽  
Vol 9 (5) ◽  
pp. 200-211
Author(s):  
Emine Beyza Satoglu
Keyword(s):  
Property Rights ◽  
Emerging Markets ◽  
Rule Of Law ◽  
Good Governance ◽  
Civil Liberties ◽  
Political Stability ◽  
Developed Countries ◽  
Emerging Countries ◽  
Bric Countries ◽  
The Developed Countries

This empirical paper examines how institutional strengths or weaknesses of emerging markets might affect investment inflows into these countries. The study includes data of 13 emerging economies from different regions. The countries included are Argentina, Brazil, Chile, China, Indonesia, India, South Korea, Mexico, Malaysia, Nigeria, Poland, Russia, and Turkey for the time period 2000-2018. The institutional variables; property rights, good governance, corruption, rule of law, and civil liberties are examined to understand if there is a deviation from the existing literature for the emerging countries. Secondly, we also investigated differences among the emerging countries and asked if non-BRIC countries are different in results. A panel data model has been performed for the analysis. Our findings prove that some institutions such as corruption, civil liberties, property rights, and good governance are significantly important to attract FDI into the emerging markets, as indicated in the literature for the developed countries, but not as strong as assumed. Secondly, other institutional constructs such as rule of law and political stability found to be insignificant in emerging markets. Finally, we found a similar result even when we analyzed emerging markets without BRIC countries.

Sign in / Sign up

Export Citation Format

Share Document