scholarly journals Current transformation trends in the economy in response to transnationalization

2017 ◽  
pp. 88-95
Author(s):  
Kateryna Zhylenko
Keyword(s):  
Rapid Growth ◽  
Global Economy ◽  
World Economy ◽  
Structural Changes ◽  
Global Strategy ◽  
Foreign Direct Investments ◽  
Negative Consequences ◽  
Economic Relations ◽  
Goods And Services ◽  
The World

The article considers current trends of transnationalization in the light of globalization of the world economy. The sources and channels of foreign direct investments are analyzed. It is pointed out, that the degree of TNC penetration into other countries’ economies is described by a means of ranking companies called transnationality index. The key factors of the rapid growth of TNCs and their turning into one of the most important actors of the current market economy are identified. There seems to be a tendency to a greater consolidation of TNCs, which is evidenced by a growing number of mergers and acquisitions of economic entities. It is noted that an increase in foreign direct investments over the last decades has been related to a rapid growth of international corporations that make investments, have branches and subsidiaries in many countries of the world. It is stressed that a further study of transnationalization should be carried out to understand both positive and negative consequences of structural changes in the global economy. A particular attention should be paid to changes in ways and systems of interaction between strategically significant sectors of the economy. A primary purpose of the paper is to consider the current role of TNCs, and to assess the degree of TNCs’ impact on the dynamics of changes in the world economy and international economic relations in the context of transnationalization. The growth of TNCs, which is currently observed, has given a new impetus to integration processes in the world economy. Definitely, it is due to the fact that overseas branches seek to be an integral part of economies of host countries and become incorporated into domestic markets of other countries. Modern TNCs are a combination of national enterprises and foreign affiliates, that form a coherent global system, in which separate branches located in various countries, operate within a framework of unified global strategy. Another feature of TNCs is their severe competition not only in the world markets of goods and services, but also on capital, labour, technology, and information markets.

REGIONALISM APPROACH UNDER THE COVID-19 CIRCUMSTANCES

2021 ◽  
Vol 27 (5) ◽  
pp. 126-133
Author(s):  
E. Rasoulinezhad ◽  
Keyword(s):  
World Economy ◽  
Policy Implications ◽  
Productive Capacity ◽  
Economic Convergence ◽  
Negative Consequences ◽  
Economic Relations ◽  
The World ◽  
And Control ◽  
Different Parts

The outbreak of Covid-19 disease since late 2019 has led to fundamental changes in the process of globalization and liberalization of the world economy. In order to prevent the spread of this disease and control its negative consequences, many countries have implemented policies such as urban quarantine, cutting off passenger communication with neighboring countries and the world, closing tourist and tourist places, and implementing policies to protect domestic industries. In general, it led to the phenomenon of reverse globalization. According to the development of new economic convergence, which is based on the role of the market in economic relations between countries can play an important role in improving the productive capacity of countries in a region and create economic integration in different parts of the world. Such a state of integration in different parts of the world could be the solution to the process of globalization and in the post-Corona era, the concept of “one for all, all for one” was created at the regional and global level. As policy implications, the paper recommended some points to make a greater integration between Iran and Russia in the region

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.

CORONAVIRUS IMPACT ON THE GLOBAL ECONOMY

2020 ◽  
Vol 10 (10) ◽  
pp. 2491-2498
Author(s):  
L.V. Abdrakhmanova ◽  
◽  
E.S. Shchigortsova ◽  
Keyword(s):  
Economic Activity ◽  
Global Economy ◽  
World Economy ◽  
Raw Materials ◽  
Global Scale ◽  
Retail Trade ◽  
Negative Consequences ◽  
Road Transportation ◽  
The World ◽  
Coronavirus Infection

The article analyzes the consequences of the spread of coronavirus infection on the world economy. The high degree of infection and the rapid spread of COVID-19 caused the quarantine of certain cities and regions of the world, and since March 2020, the borders between the countries have been completely closed. This situation, naturally, could not but affect the global economic activity. The crisis caused by the pandemic has led to the fact that the leaders of the countries were forced to first of all pay attention to health problems and seriously reduce funding in other sectors of the economy. The forced self-isolation regime of the population affected all spheres of life, without exception, large and medium, and, especially, small business suffered. The sectors of the economy most affected by the coronavirus pandemic include: air and road transportation, the leisure and entertainment industry, fitness and sports, tourism, hospitality, catering, the education system, the organization of conferences and exhibitions, the provision of personal services to the population, dentistry, retail trade in non-food products, the media and the production of printed materials, etc. Statistical data on the number of cases of new coronavirus infection by country (as well as those who recovered and died from it) are today not so much of a medical nature as evidence of a deepening global economic crisis. The decline in production volumes on a global scale entails a reduction in the global consumption of most types of industrial raw materials and energy carriers. According to analysts’ forecasts, the possibility of a quick return to the previous economic activity is not foreseen, negative processes may continue for the next several years. The COVID-19 pandemic is a serious test of the readiness of the world economy to effectively resolve global problems, overcome the negative consequences of the spread of the virus and focus on those positive opportunities, the development of which can lead to economic growth in the long term. One of these promising areas of economic development is the further digitalization of society, the development of new digital technologies.

scholarly journals Współczesna globalizacja: przebieg, czynniki i oznaki metamorfozy procesu

2017 ◽  
pp. 49-96
Author(s):  
Anna Zorska
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Foreign Direct Investments ◽  
Political Factors ◽  
Demographic Situation ◽  
Global Flows ◽  
Nation States ◽  
The World ◽  
Development And Evolution

The article aims at an analysis of changes in development of globalization which took place during the 2007-2008 crisis and the following years of the economic slowdown. The analysis is conducted against the background of the situation in the world economy and includes investigation of changes (dynamics and structures) in global flows of merchandise, exports of services and foreign direct investments. The structural transformation of global flows indicates the increasing share and role of China in the world economy. The significance of transnational corporations in the globalization process calls for portraying the evolution of their activity and relations with nation states and other groups of economic actors. Attention is drawn to changes in the set and forces of key globalization factors, including technological progress (in the age of information revolution), economic, social and demographic as well as political factors. The increasing impacts of evolving States' policies and socio-demographic situation on trends in the global economy are acknowledged. The transformation of globalization factors considerably affects the development and evolution (or metamorphosis) of the investigated process. Six signs of the initiated metamorphosis of globalization, which indicate possible intensification and direction of changes in the futurę development of the process, are discussed

scholarly journals THEORETICAL AND METHODOLOGICAL ASPECTS OF DETERMINING THE INFLUENCE OF GLOBALIZATION PROCESSES ON THE DEVELOPMENT OF THE ECONOMY OF UKRAINE

2021 ◽  
Author(s):  
Svitlana Bestuzheva ◽  
Viktoria Kozub
Keyword(s):  
Foreign Direct Investment ◽  
Direct Investment ◽  
Global Economy ◽  
World Economy ◽  
Modern Trend ◽  
Tax Rate ◽  
Goods And Services ◽  
The World ◽  
World Economic ◽  
The Impact

The paper proposes a scientific approach to determining the impact of globalization processes on the development of Ukraine’s economy based on the analysis of the dynamics and modeling of indicators of the degree of integration of Ukraine’s economy into the system of world economic relations. Globalization is seen as a modern trend in the world economy as a system of interconnected and interdependent economic entities, among which a significant place is occupied by countries. The authors determine the degree of Ukraine's integration into the world economic space by its place in the ratings of globalization and economic openness. Analysis of the dynamics of the degree of integration of Ukraine's economy into the global economy is based on GDP, export and import quotas during 2006 – 2020. Based on the results of the analysis, the authors developed an econometric model for assessing the impact of factors on the globalization index of Ukraine, identified the most significant positive factors, namely the volume of exports of goods and services as a percentage of GDP, GDP, the ratio of foreign direct investment to GDP, the share of innovative exports export of goods and services of the country. The import quota and the corporate income tax rate have been identified as negative factors. Based on the results obtained during the modeling, the authors have developed and proposed a sequence of measures to increase the level of openness of Ukraine's economy in the context of its globalization. Perspective forms of globalization in the context of forming a new perspective of the international community on changing the vector of world economy - from globalization to regionalization and nationalization which have materialized in increasing the volume and diversification of the structure of international trade, intensification of international financial transactions, the emergence of transnational business, a sharp increase in foreign direct investment and intensification of international labor migration.

scholarly journals MEGATRENDS OF E-COMMERCE DEVELOPMENT IN THE CONTEXT OF MODERN TECHNOLOGICAL REVOLUTION

2018 ◽  
Vol 2018 (11-12) ◽  
pp. 82-103
Author(s):  
Volodymyr SIDENKO ◽  
Keyword(s):  
Policy Development ◽  
Industrial Revolution ◽  
New Technologies ◽  
The European Union ◽  
Negative Consequences ◽  
Economic Relations ◽  
Goods And Services ◽  
Positive Effects ◽  
The World

The article covers the issues of development of electronic (digital) commerce (EDC) as a key trend in transformation of the world economy. The emphasis is on multidimensional manifestations of the EDC and on a clear tendency towards further diversification of forms of this commerce under conditions of intensive technological transformations of modernity. Its spread is associated with the growing role of the EDC and it is proved that the pace and efficiency of its spread in the sphere of trade and economic operations is largely due to availability of information and communication infrastructure of adequate quality. It is shown that new prospects for the development of e-commerce are related to the key new technologies of the Fourth Industrial Revolution: analytics based on large databases, blockchain technologies, Internet of things and artificial intelligence. The author argues that the latest technologies create the foundation for a systemic change in the very nature of economic and non-economic relations. It is proved that the process of e-commerce spread is controversial and related to the possible presence of both positive results and negative consequences. Positive effects are primarily owing to a significant reduction in costs and expansion of the range of supply, increasing opportunities for promoting goods and services on the market (especially for small and medium-sized businesses) and a significant reduction of time of commercial operations. At the same time, the importance of security of economic development and protection of the rights of individual is emphasized, as in the context of the spread of e-commerce, the risks in these aspects are increasing. Particular attention is paid to the importance of coordinating the e-commerce policy development. The role of the leading international organizations – the UN (UNCTAD and UNCITRAL), the WTO, the OECD, the World Customs Organization, the Universal Postal Union – in the development and regulation of e-commerce is also described. Taking the European Union (the policy of forming a single digital market) and the Eurasian Economic Union (Digital Agenda of the EAEU until 2025) as an example, the growing importance of international regional policy in addressing this problem is shown.

scholarly journals THE MAINSTREAM OF INTERNATIONAL MOVEMENT OF MANUFACTURING FACTORS IN CONDITIONS OF THE WORLD ECONOMY TECTONIC SHIFTS

2018 ◽  
pp. 265-276
Author(s):  
Yuriy Gumenyuk
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Emerging Market ◽  
Aggregate Demand ◽  
Goods And Services ◽  
Slowing Down ◽  
Emerging Market Countries ◽  
World Markets ◽  
The World

The role of ensuring the economy of the country as factors of production for its competitiveness in the world markets of goods and services is substantiated. It is proved that the artificial reduction of the share in the production function of one of the factors leads to an increase in its price (share) in the national product. This gave a chance to scientifically and methodologically substantiate the position according to which emerging market countries must form an effective aggregate demand through the formation of the middle class and any slowing down in this direction leads to cur­tailment of economic development. Instead, the uneven distribution of the global economy is spreading and the death penalty is formed, which consumption costs are motivated by scientific and technological progress.

TOURISM SAFETY DURING THE PANDEMIC: STATISTICS AND ANALYTICS

2018 ◽  
Author(s):  
Raisa Kozhukhіvska ◽  
◽  
Оlena Sakovska ◽  
Keyword(s):  
World Economy ◽  
Tourism Industry ◽  
Negative Consequences ◽  
Negative Effects ◽  
Safety Issues ◽  
Goods And Services ◽  
The World ◽  
Precautionary Measures ◽  
The Impact ◽  
Statistical Indicators

The article analyzes statistical indicators of tourism development and investigates safety issues in tourism. The negative consequences in tourism that occurred as a result of the spread of the disease caused by coronavirus infection has been analyzed. It is marked, that as a result of distribution of pandemic there was a fall of the world economy, volumes of trade and prices of the goods and services, capital outflow from new market economies. It is established that the tourism industry is one of the most important indicators of socio-economic development of both some regions and the country as a whole. But due to the restrictions caused by the spread of the pandemic, the tourism industry is facing a crisis that may be the worst in the history of the world economy. It is noted that if precautionary measures are not taken soon, the tourism industry will face an economic crisis from which it will be difficult to recover and millions of people working in the tourism industry will be out of work. Therefore, there is a need to develop ways to overcome the crisis caused by the spread of an infectious disease caused by coronavirus. It is pointed out that during the pandemic caused by COVID-19, it was tourism that suffered the most, in particular because of the restrictive measures imposed by States on the movement of citizens, quarantine, prohibition of air travelling, etc. A detailed analysis of analytical and statistical indicators of tourist travel in the world and Ukraine has been conducted. It is noted that due to the pandemic caused by COVID-19, the global tourism sector in 2022 may miss a third of revenues planned for this period. The measures to mitigate the impact of the crisis in Ukraine, which are proposed by experts of the tourism industry has been considered. Proposals on ways out of the crisis situation for the Ukrainian sphere of tourism, the implementation of which will reduce the negative effects associated with pendemia, have been developed. It is noted that the main activities should be the state support for entrepreneurs that are doing business in tourism, the expansion of Internet services and improving of its services, particularly in the field of booking and reservation of tourist services.

scholarly journals IMPACT OF COVID-19 ON WORLD ECONOMY: THE FIRST SUMMARY OF 2020

2021 ◽  
Author(s):  
Kateryna Sydorenko ◽  
◽  
Olha Sheremet ◽  
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Large Scale ◽  
Negative Impact ◽  
Commodity Prices ◽  
Developed Countries ◽  
Development Planning ◽  
Synthesis Methods ◽  
Economic Relations ◽  
The World

The purpose of article is to comprehensively assess the consequences of COVID-19 for global economy, regions, industries and different forms of international economic relations. In early 2020, the world was hit by the COVID-19 pandemic. To save the lives of citizens and the integrity of the health care system, countries were forced to resort to radical measures: lockdowns, which included the complete or partial cessation of international traffic and the reduction of economic activity. Such actions had a negative impact on the world economy: a drop in world production, a decrease in international demand, an increase in unemployment and poverty, a decline in FDI flows. The situation has reached the level of the Great Depression of the 1930s. The COVID-19 crisis has affected regions in different ways. The research methodology combines general and special methods of scientific knowledge: descriptive-analytical, analysis and synthesis, methods of quantitative and qualitative comparisons. The information basis of the article is research and periodical publications of foreign economists, materials and analytical reports of international organizations. The results of the study revealed that the global economic crisis caused by COVID-19 started with China, which applied extremely strict quarantine restrictions and already at the end of 2020 showed economic growth. And gradually spread to Europe, North America and the rest of the world. The negative impact of COVID-19 on developed countries with a high proportion of the older people among the population most vulnerable to the disease has been most noticeable. Europe is the region that has suffered the most. For Latin America, Africa and parts of developing Asia, the COVID-19 crisis has been burdened by permanent economic problems and natural disasters: the weakness of the financial system, large public debt, high dependence on commodity prices, locust infestations etc. Developed countries had a margin of stability, so they conducted large-scale programs to support business and households, especially effective were credit guarantee and job preservation state programs. While developing countries were less affected by the spread of the disease but did not have the financial resources to deploy large-scale government assistance programs. New imbalances have emerged in the structure of the world economy. Some industries suffered huge losses and found themselves on the brink of survival (tourism, hotel and restaurant business, entertainment, etc.), unemployment rose significantly; others, on the contrary, worked at full capacity 24/7 and workers were forced to work overtime. FDI flows fell below the level of 2008-2009. The least FDI came to developed countries. Most FDI accounted for mergers and acquisitions in 2020, while investment in existing production assets suffered the most. This trend is expected to continue in 2021. According to the forecast, 2021 should mark the beginning of economic recovery, but it is unlikely to reach the level of 2019. The results of this study could be used in further research, also as in development, planning and implementation of state crisis strategies.

scholarly journals Global Foreign Direct Investment: Structural Changes in the Current Crisis

2021 ◽  
Vol 17 (3) ◽  
pp. 1014-1026
Author(s):  
Еvegenii N. Smirnov ◽  
Sergey А. Lukyanov
Keyword(s):  
Foreign Direct Investment ◽  
International Trade ◽  
Direct Investment ◽  
World Economy ◽  
Structural Changes ◽  
Value Chains ◽  
Current Crisis ◽  
Economic Relations ◽  
Cross Border ◽  
The World

The current crisis, as well as complicated economic relations between countries, sustainable development risks of global value chains (GVCs), and international trade protectionism cause changes in the modern system of global foreign direct investment (FDI). Due to the complexity of these risks and the vulnerability of the world economy to future global recessions, it is necessary to develop a new concept of cross-border capital flows in the form of FDI. The research aims to identify structural changes in global FDI in the context of international trade and capital market challenges. Structural and dynamic analysis and a descriptive assessment were conducted to examine global foreign direct investment in the system of international capital movement, taking into account the unstable economic environment. A test of the impact of the current coronavirus crisis revealed that the retrospective transformation of global FDI occurred due to changes in the internationalisation of companies, cross-border mergers and acquisitions, and regional structure of FDI. Corporate disinvestment and the growing importance of intangible assets also played an important role. As a result, the slowdown in global FDI led to a decline in reinvested earnings in many economic sectors. As the long-term recovery of the world economy will be largely determined by the dynamics of global FDI, transnational companies (TNCs) should consider local crises and strive to geographically distribute capital investment. The research revealed that the differentiation of national GVC strategies and new approaches to foreign outsourcing of TNCs are the main risks of regionalisation or nationalisation of global value chains and a corresponding decrease in FDI. The findings can be used to modify well-known FDI concepts, taking into account their impact on modern international economic relations.

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