PROBLEMS OF EXPANDING AND DEEPENING INTERACTION BETWEEN THE MEMBER COUNTRIES OF THE BRICS STRATEGIC ASSOCIATION

2020 ◽  
Vol 1 (7) ◽  
pp. 117-121
Author(s):  
K. S. LEONOVA ◽  
Keyword(s):  
Economic Integration ◽  
Global Economy ◽  
World Economy ◽  
World Order ◽  
Modern World ◽  
Globalizing World ◽  
The World

The article is devoted to the study of key problems in the expansion and integration between the BRICS alliance members in a globalizing world. The relevance of the article is characterized by growing economic integration between the BRICS member countries in the modern world economy. Under the conditions of reconfiguration of the world order, scientific justifications have been developed, as a result of which the BRICS strategic association could take more advantageous positions in the global economy.

scholarly journals HORIZONS OF RESEARCH IN GEOGRAPHY OF THE WORLD ECONOMY

HERALD ◽  
2017 ◽  
Vol 8 (20) ◽  
Author(s):  
Vladimir Alexandrovich Kolosov ◽  
Elena Alexandrovna Grechko ◽  
Xenia Vladimirovna Mironenko ◽  
Elena Nikolayevna Samburova ◽  
Nikolay Alexandrovich Sluka ◽  
...  
Keyword(s):  
Developing Countries ◽  
Division Of Labor ◽  
Global Economy ◽  
World Economy ◽  
Spatial Organization ◽  
Modern World ◽  
High Tech ◽  
Research Activities ◽  
The World ◽  
The Impact

The advent of "world economic transition" and the formation of a multipolar world is closely linked, according to experts, with loss of globalization advances, which strengthens regionalism, increases diversification and fragmentation of the modern world, creating risks and threats to the world development. In this light studying the spatial organization of the global economy becomes more important, and at the same time that complicates the choice of priorities in the research activities of the Department of geography of the world economy, Faculty of Geography, Moscow State Lomonosov University in 2016-20, requiring a new research “ideology”. The article summarizes some ideas expressed by the department staff. It specifies that concept of territorial division of labor, as well as the defined set of key actors in the world economy and common assumptions regarding their contributions to its development needs a significant revision. The above firstly concerns giant developing countries, in particular rapidly growing China – a kind of locomotive entraining other developing states. Further, the impact of multinationals on the overall architecture and the territorial organization of the global economy becomes more and more tangible. This phenomenon requires the creation of a new scientific area of concern – the corporate geography as a tool to thoroughly investigate the transnational division of labor. Changes in the balance of acting forces are closely related to changes in industry composition and spatial organization of the global economy. The article raises the issues of development of such processes as tertiarization of the economy, reindustrialization and neoindustrialization, the latter being understood as an evolutionary transition to a knowledge-intensive, high-tech, mass labor-replacing and environmentally efficient industrial production. Basing on preliminary research from the standpoint of a relatively new methodological approach – formation of value chains – the vector of "geographical transition" " in their creation from developed to developing countries was designated. This means increasing complexity of the territorial structure of the world economy and an increase in the importance of semi-periphery. A spatial projection of globalization processes in the form of emerging “archipelago of cities”, which consolidates the international network of TNCs as the supporting node frame of the global economy requires close attention and analysis. The need of comprehending the study scope in the field of geography of the world economy in medium Atlas Information Systems (AIS), which in terms of functionality belong to the upper class of electronic atlases, is noted.

scholarly journals SYSTEM DETERMINANTS OF THE FORMATION OF THE NEO-FINANCIAL ORDER IN THE CONDITIONS OF NONEQUILIBRIUM DEVELOPMENT

2018 ◽  
pp. 20-39
Author(s):  
Natalia KRAVCHUK ◽  
Oleh LUTSYSHYN
Keyword(s):  
World Economy ◽  
New World ◽  
Resonance Effect ◽  
World Order ◽  
Modern World ◽  
Financial Instability ◽  
System Reform ◽  
Global Development ◽  
Financial Architecture ◽  
The World

Introduction. By monitoring the aggregate cumulative effects of the recent global financial turmoil, it becomes clear that the world financial order and the system of international economic relations are based on the “debris” of Bretton Woods agreements. This can be explained by the fact that there are no alternatives for the outdated agreements. The modern world economy continues to have a pronounced rental character. Thus, it can be argued that it is one of the root causes of the global development divergence, the income imbalances, and financial imbalances. Those, in turn, are causing global asymmetries and socio-economic inequalities. Consequently, the modern world economy can be defined as a financial economy (in its essence). Therefore, the consideration of fundamental global financial imbalances will lead to an understanding of the system determinants of the need to change the modern world financial order. The purpose of the study is to deepen the theoretical and methodological foundations of both identification and development of system determinants of global financial instability. As well as to substantiate and develop the concept of constructing neo-financial order in the conditions of nonequilibrium global development. Results. System determinants of global financial instability are revealed. The new systemic risks that provoke global financial crises in the era of the digital economy and digital finance are highlighted. In addition to that, the need for the global currency system reform and the global financial architecture reform were discussed. As well as the more recent need – the formation of a neo-financial world order (a new level based on absolute new principles and principles) was studied.The essential basis of modern crises is highlighted. Among which, first, contradictions between the laws of the functioning of the globally-centered economy, which is a systemic integrity. Second, the heterogeneity of the structure-functional construction of a geospatial, which operates on the principles of globalization diversion. Additionally, the nature of the crises spread, which resembles the spread of seismic waves with resonance effect, is substantiated.The events that have taken place in recent years, and which gave a powerful impetus to the processes of formation of qualitatively other geo-economic and geopolitical foundations for the reform of the global financial system have been characterized. Conclusions. The concept of construction of the world neo-finance order in the conditions of nonequilibrium global development is substantiated. The objective necessity of building a new world financial architecture was proven. The last should be based on qualitatively new principles, mechanisms, and nterconnections of global governance, and should challenge the creation of a new world financial order.

Prospects for the Development of a Systemic Global Economic Crisis

2019 ◽  
Vol 7 (1) ◽  
pp. 4-7
Author(s):  
Елена Басовская ◽  
Elena Basovskaya ◽  
Леонид Басовский ◽  
Leonid Basovskiy
Keyword(s):  
Business Cycles ◽  
Economic Crisis ◽  
Global Economy ◽  
World Economy ◽  
Developed Countries ◽  
Modern World ◽  
Way Of Life ◽  
Half Wave ◽  
The World ◽  
Global Economic Crisis

The work is devoted to forecasting the prospects for the development of a systemic economic crisis of the world economy. Forecasting is carried out on the base of N. Kondratyev econometric models of cycles in the world economy and the economies of the largest countries of the modern world. The results obtained allow us to establish that the beginning of Kondratiev’s upward halfwaves relates to the years 1999–2001. The expected duration of the period of the modern Kondratyev cycle is 50–54 years. The results of the study of the dynamics of the world economy, the results of studies of the economic dynamics of developed countries shows that the start of the upward half-waves of the Kondratieff cycle is expected in 1999–2001 goals. It can be associated with the transition to dominance of the fifth technological order, the emergence of the sixth way of life and the beginning of the death of the fourth technological way. The completion of the downward wave of this Kondratiev cycle and the systemic global economic crisis associated with the transition to the dominance of the sixth technological order should expected in 2049–2055. Since the likelihood of economic crises with business cycles, financial and investment cycles begins to increase with the transition to the downward half-wave of the Kondratyev cycle, from 2024–2027 one can expect a deepening of periodic crisis phenomena in the global economy.

scholarly journals THE APEC INTEGRATED COMPETITIVE FORCE INDEX

2020 ◽  
Vol 6 (4) ◽  
pp. 118-124
Author(s):  
Mykola Palinchak ◽  
Olena Zayats ◽  
Viktoria Bokoch
Keyword(s):  
International Economic ◽  
Economic Integration ◽  
Global Economy ◽  
World Economy ◽  
Economic Cooperation ◽  
Asia Pacific ◽  
International Integration ◽  
Member States ◽  
Asia Pacific Economic Cooperation ◽  
The World

The number of actors that affect the distribution of the competitive force in the global economy is growing, and the spheres of economic competition or cooperation are expanding to build up the competitive force. The article emphasizes the significant impact of international economic integration on the sustainable economic development of the world economy. It also shows that the study of the competitive force of interstate integration groupings is highly relevant today, as international economic integration plays a fundamental role in the development of trade and competitive relations between countries. The paper offers the methodology for competitiveness grouping of Member States of the international integration groupings in order to assess the global competitive force of trade and economic groupings in the world economy. The purpose is to investigate the Integrated Competitive Force Index of Asia-Pacific Economic Cooperation (APEC) 2019 in order to analyze the attractiveness of APEC in terms of the global competitive force. It is also important to determine the attractiveness of APEC competitive environment according to 12 criteria on the basis of the research, which, in turn, allows for a better understanding and ranking of interstate integration groupings according to their competitive forces. Result. Based on the data of the Global Competitiveness Report 2019 on the competitiveness of Asia-Pacific Economic Cooperation Member States (APEC), the Integrated Competitive Force Index of APEC as an interstate integration grouping has been calculated. The Index will help to assess economic integration or disintegration processes in the global economy. The article proves the necessity of the annual integrated competitive force ranking of international integration groupings. Practical implications. The introduction of the new Integrated Competitive Force Index of interstate integration groupings will help competition policymakers to decide which processes of economic integration or disintegration should be preferred in order to build up their competitive force in the global economy.

Policy of National Interest as an Alternative to Liberalism

Upravlenie ◽  
10.12737/5638 ◽  
2014 ◽  
Vol 2 (3) ◽  
pp. 57-61
Author(s):  
Моргунов ◽  
E. Morgunov ◽  
Чернявский ◽  
S. Chernyavskiy
Keyword(s):  
Global Economy ◽  
Capital Investment ◽  
World Economy ◽  
Oil And Gas ◽  
Raw Materials ◽  
National Interest ◽  
Point Of View ◽  
Modern World ◽  
The World ◽  
Gas Market

It has been shown in this paper that among the expert community there is no consensus on the global economy prospects. Optimists suggest that as soon as the crisis in the euro area will be overcome, and the world economy in the coming years will increase slowly but surely (about 3% per year). But pessimists suggest that depression, or at least short-term stagnation will occur. However, some of them not only predict a financial crisis, but in the middle-term – a natural resource´s one. Our analysis of global and Russian oil and gas market is confirming that at least "oil props" of the modern world economy are becoming quite shaky: the world is moving from the "oil era" to the "age of gas". With specific regard to Russia, its natural resources and raw materials primarily hydrocarbons (in particular enough high world prices for them), keep her from the financial and budget crisis, despite the absurd liberal economic policy and off-scale corruption. However, analysis of Russian oil and gas market shows that many of old highly profitable fields almost used up its resources and new ones are often at least marginally profitable and require a huge capital investment in their development. Therefore, from our point of view, in any case, to be a shift from the liberal to an active policy of national interest: improving the living standards of own people, economic development of the territory, industry restoration.

Modern globalization: development of glocalization and fragmentation of the world economy

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Alexey Yu. Arkhipov ◽  
Alexey N. Yeletsky
Keyword(s):  
Global Economy ◽  
World Economy ◽  
Comparative Modeling ◽  
Theoretical Concept ◽  
Modern World ◽  
Content Type ◽  
Economic Relations ◽  
The World ◽  
World Economic ◽  
Analysis System

PurposeThe purpose of the article is to analyze the contradictory trends in the development of the modern world economic system. The relevance of the topic is due to the multifaceted and ambiguous nature of regionalization, glocalization and fragmentation tendencies formed as the most important trends in the crisis of globalism.Design/methodology/approachBased on the classical methods of historical and functional analysis, system approach and comparative studies, the authors realized the research potential of modern methodological tools, alternative forecasting methods and comparative modeling, as well as special methods of economic globalistics and global political economy. Heuristic possibilities of the methodological–theoretical concept of glocalization of international economic relations are used.FindingsNew directions and opportunities for attaining regional and global geo-economic leadership are revealed and demonstrated. It is justified that glocalization does not lead to economic isolation in previously known historical forms but to priority realization of the interests of local economic entities included in the processes of globalization and subordinated to its patterns. Glocalization causes an increase in the role of local factors in the global development of the society, in particular of the global economy.Originality/valueIt is established that the so-called equilibrium zones (enjoying the advantages of an intermediary role in the interrelationships of large areas of the world economy, which are headed by geo-economic leaders) possess the potential for novelty in the dynamics of a globalizing economy. The article predicts the formation of a multidimensional and multilevel geo-economic multipolarity due to the reshaping of the global system of leadership in the world economy and due to the contradictory competitive relationships of its main centers.

scholarly journals Post-Pandemic Recovery of the Global Economy

2021 ◽  
Vol 14 (2) ◽  
pp. 47-71
Author(s):  
E. N. Smirnov
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Global Economy ◽  
World Economy ◽  
Negative Impact ◽  
Policy Instruments ◽  
World Order ◽  
Economic Consequences ◽  
Clear Understanding ◽  
The World

As the coronavirus pandemic continues to spread, the degree of its negative im- pact on the development of economic systems throughout the world economy increases. At the same time, the issues of the future world order and the restoration of the global econ- omy are becoming more and more uncertain. The purpose of our study was to review the conceptual and practical approaches to substantiating the possibilities of postcrisis recov- ery of the global economy in the context of the continuing negative impact of the pandemic on international trade, capital flows and the development of the world financial system. The article reviews the materials of international economic organizations to assess the longterm economic consequences of the pandemic. The analysis shows that the main problem in as- sessing the possibilities for the recovery of the world economy is the existing heterogeneity in the degree of the pandemic's impact on individual sectors and economies of countries, as well as the differentiation and inconsistency of the applied economic policy instruments. In addition, it was found that the world retains a high potential for financial instability, and “vaccine nationalism” is getting worse. The main contradiction is the transboundary nature of the challenges to further economic development with a significant slowdown in global- ization pro-cesses. The author considers the current pandemic to be one of the new global problems of the world economy, since its recovery in the current conditions is of an indefi- nite spasmodic nature, and there are also risks of a permanent slowdown in economic mo- bility. The solution to the key problem of economic growth - increasing productivity - is pos- sible only with a clear understanding and planning of progress with inclusive vaccination, which is so far elusive. Although shortterm economic policy is a priority for governments, a wellcoordinated international agenda is needed at the global level to ensure the transition from income support to stimulating economic growth, as well as to overcome the existing structural imbalances and distortions in the system of economic relations between coun- tries.

scholarly journals Social and geographical relations: conceptual and terminological system

2016 ◽  
pp. 78-80
Author(s):  
M. Chorniy
Keyword(s):  
International Economic ◽  
Interest Rates ◽  
Economic Integration ◽  
Labor Migration ◽  
World Economy ◽  
Modern World ◽  
Customs Union ◽  
International Labor ◽  
The World ◽  
International Labor Migration

The rapid evolution of the modern world – the world economy is creating new conditions for the operation of open dynamic systems – the world economy, which is the basis for our view of social and geographical ties. In the article the basic terms and concepts supilno and geographical ties, and develop concepts and terminology system (PTS) studied communications through the category of “world economy”. A look at their social and geographical relationships and their place in the structure of social geography. Social and geographic ties – a complex system which is based constitute international public relations in the organic unity between all the actors of the world economy, a kind of core of which is the integration of the world economy. The basis of the concept of “social and geographical ties” assigned categories – international economic integration, international migration of capital, international labor migration, international industrial cooperation. International economic integration includes the following stages of development as a free trade area, customs union, common market, economic union, complete economic integration. International labor migration consists of the following stages as migration, mobility and migration, migration outcome. The basic terms of the system of relationships between macroeconomic indicators and identify patterns of the system. Also, the article emphasizes the dynamics of the system and its behavior, not the static equilibrium. A model of international relations sector and the sector of price changes that are relevant in today’s world transformation which aims to stimulate growth in production and GDP. Provides reduce the tax burden through lower tax and interest rates through the discount rate as well as through the reserve ratio to stimulate consumption and investment, producing GDP growth. At the present stage of economic relations is their actual globalization that is increasing interdependence of national economies around the world and enhance the transparency of national markets and the deepening international division of labor and integration.

Globalization and interconfessional communications

2001 ◽  
pp. 13-17
Author(s):  
Serhii Viktorovych Svystunov
Keyword(s):  
21St Century ◽  
Global Economy ◽  
Modern World ◽  
The World ◽  
Target Set ◽  
Almost All ◽  
Over Time ◽  
Rapid Appearance

In the 21st century, the world became a sign of globalization: global conflicts, global disasters, global economy, global Internet, etc. The Polish researcher Casimir Zhigulsky defines globalization as a kind of process, that is, the target set of characteristic changes that develop over time and occur in the modern world. These changes in general are reduced to mutual rapprochement, reduction of distances, the rapid appearance of a large number of different connections, contacts, exchanges, and to increase the dependence of society in almost all spheres of his life from what is happening in other, often very remote regions of the world.

The Role of Technological Change in the Long-run Global Economy Forecasting

2013 ◽  
pp. 97-116 ◽  
Author(s):  
A. Apokin
Keyword(s):  
Technological Change ◽  
Data Quality ◽  
Long Range ◽  
Global Economy ◽  
World Economy ◽  
Qualitative Approaches ◽  
Long Run ◽  
The World ◽  
National Economies

The author compares several quantitative and qualitative approaches to forecasting to find appropriate methods to incorporate technological change in long-range forecasts of the world economy. A?number of long-run forecasts (with horizons over 10 years) for the world economy and national economies is reviewed to outline advantages and drawbacks for different ways to account for technological change. Various approaches based on their sensitivity to data quality and robustness to model misspecifications are compared and recommendations are offered on the choice of appropriate technique in long-run forecasts of the world economy in the presence of technological change.

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