scholarly journals Inclusive Development of the World Countries under Conditions of Globalisation: Models and Arguments

2021 ◽  
Vol 24 (6) ◽  
pp. 81-91
Author(s):  
Tetyana Zinchuk ◽  
Nataliia Kutsmus ◽  
Tetiana Usiuk ◽  
Oleksandr Kovalchuk ◽  
Lesia Zaburanna
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Human Development ◽  
Growth Potential ◽  
Inclusive Development ◽  
Maximum Effect ◽  
Economic Changes ◽  
The World ◽  
World Economic ◽  
The Impact

This study investigates the features of economic growth in different countries of the world, which are described by differences not only in the achieved growth indicators, but also in the trajectory and nature of stimulating this process. The purpose of this study is to assess the impact of existential parameters of the functioning of countries (leading and growing economies) on the inclusivity of their development in the context of economic globalisation, as well as to justify the priority vectors of socio-political and economic changes aimed at realising the growth potential according to the concept of sustainability. The methodological framework of the research comprises methods of descriptive statistics, correlation analysis, and step-by-step regression. The index of development inclusiveness recommended by the World Economic Forum is used as the main indicator of the country's development. The information basis of this study included international databases representing data by country. The results of the study allowed identifying the main factors of economic development and the dependence of economic growth separately in the leading and developing countries of the world. It is proved that despite the direct or indirect impact of these factors on the economic development of the world's leading countries and countries with growing economies, there is no universal model that would ensure economic growth with a focus on sustainable development. However, it is possible to identify a group of factors that ensure the maximum effect of economic growth. Thus, for countries with growing economies, human development is a priority, while for the leading countries of the world, economic growth is mainly driven by factors such as the environmental footprint per person, the Human Development Index, the Globalisation Index and the cost of imported resources. Dynamic changes in the global space, trends towards further development of human capital in all countries, unpredictable consequences of the impact of COVID-19 pandemics determine the prospects for further research in this area

scholarly journals SYSTEM DETERMINANTS OF UNEQUAL ECONOMIC DEVELOPMENT OF GLOBALIZED WORLD

2018 ◽  
pp. 139-149
Author(s):  
Roman ZVARYCH
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Economic Development ◽  
Human Development ◽  
Poverty Reduction ◽  
Market Model ◽  
Poor Countries ◽  
The World ◽  
Per Capita ◽  
Geopolitical Risks

Introduction. Globalization has accelerated the transformation of authoritarian societies into the perception of individual elements of the liberal-market model. It created favorable conditions for their cooperation with developed Western countries; stimulated economic modernization; and attracted countries to world economic processes. Positive shifts in the development of developing countries are associated with high rate of growth. But on the other hand, globalization left national states little chance to preserve their own economic, political and cultural sovereignty and strengthened their dependence on the developed world. Purpose. Purpose of the article is research of the unequal economic participation and divergence of economic inequality in developing countries and estimation of their impact on the uneven development of the world. Methods. The method of content formalization the development, growth and convergence of developing countries is used; hypothetical-deductive method in evaluating the level of preindustrial inequality in the world is used; systematic approach to analyze income gap per capita between rich and poor countries is used; hypothesis method for poverty reduction ways and geopolitical risks elimination is used. Results. The research is focused on development, growth and convergence of developing countries in the world economy. It is estimated the level of preindustrial inequality and it is established the starting point of its occurrence in the world. The developing and industrialized world is concentrated in dozens of countries where economic growth was associated with structural changes in production and employment. The research showed a gap in income per capita between rich and poor countries. The exclusion of the least developed countries is a key factor of international inequalities in the world as a whole and within the developing regions. It is defined the share of people below the poverty line and the level of its influence on world development. If rapid growth has led to human development and social progress in some countries, then in much more countries this growth has not provided development. It is explored the poverty reduction measures, non-economic factors and geopolitical risks that can destroy the further growth of developing countries. Conclusion. In a context of structural change, the development of the global economy will largely depend on the growth rates of developing countries. Despite the growing of economic power, developing countries can face certain specific problems associated with the pursuit of rapid economic growth. For economic development, developing countries should eradicate poverty, create jobs and inclusive growth. This sustainable way of developing mobilizes human resources of developing countries. The spread of education is the basis of the development of countries that industrialized late. Infrastructure, both physical and social, is the basis for the earlier stages of industrialization. Developing countries should strive to combine economic growth with human development and social transformation. This requires the creative interaction between the state and the market over the dominance of the market model.

Civilization challenges to global economic development

2020 ◽  
pp. 131-142
Author(s):  
Maksym A. Zhyvko ◽  
Andriy R. Zastavnyy ◽  
Oleh V. Ivashchuk
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Developed Countries ◽  
Survey Study ◽  
Main Element ◽  
Modern World ◽  
Negative Consequences ◽  
The World ◽  
The Impact ◽  
Religious Differences

The geospace stratification substantiate and its spatial differences reveal based on the analysis of the economic growth dynamics. The impact of the COVID-19 pandemic on the slowdown in economic growth confirmed and its negative consequences for the investment sphere clarified, because the ability of countries to respond adequately to these processes is different. It has been determined that under the globalization influence, the world acts as a single whole, and the core of developed countries and the periphery is formed as well as local civilizations are transformed. Attention focuses on the research of the values problems that determine the state of society development. The research of the essential characteristics of civilizations carried out and the ideas of the main European civilizational schools characterized. Based on M. Rokeach’s concept, the features that characterize values are determined. It confirmed the values that dominate in society are the main element of culture. The model for measuring the cultural variability of the cross-cultural plane, which was developed by the Dutch psychologist G. Hofstede, is detailed, and the influence of cultural characteristics on the new economy formation is analyzed. The «World Values Survey» study has been assessed. It confirmed that, due to the impossibility of full-fledged self-realization of the individual, migration processes activated and their analysis shows a tendency towards growth. It substantiated that in the modern world the questions about the nature of the socio-cultural integrity of civilizations and civilizational ecumene, associated with religious differences and demographic processes, remain unresolved. An assessment of the demographic situation in the world carried out and its growing dynamics and regional asymmetries clarified. A spatial analysis of the distribution of countries in the global space with dominant religions carried out and the main trends in the world religions development revealed. The role of strengthening the intangible component in the structure of modern economic reproduction argues. It confirmed that the potential of the countries and the world development as a whole takes place in the process of deepening cross-civilization-integration processes. The main civilizational challenges of global economic development are formulated, they are formed under the multi-vector processes in the world, including: spatial asymmetry of countries’ development, universalization of values, socio-cultural differences, ethnic problems, religious differences, demographic and migration processes.

TRANSITION ECONOMIES PROBLEMS WITH SPECIFIC FOCUS ON DEALING WITH SCALE OF CORRUPTION CASE STUDY – KOSOVO

2018 ◽  
Vol 28 (1) ◽  
pp. 329-334
Author(s):  
Ariana Xhemajli
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Transition Economies ◽  
Direct Investment ◽  
Negative Impact ◽  
Objective Measures ◽  
Corruption Case ◽  
The World ◽  
The Impact

Theoretical and empirical debate on the impact of corruption on the economy remains unclear. Many studies on corruption seem that the world is occupied by two kinds of people, "sanders" and "greasers”. It depends on what the meaning of "corruption" is for them. Some scholars argue that corruption is an obstacle to economic growth, whereas others believe that corruption can (in some circumstances) endorse growth. Corruption also has a negative impact on investment, Foreign Direct Investment, and economic development as a whole. Measuring corruption is still an issue for most economists due to the difficulties of defining it, and also different forms of corruption require different objective measures. Nevertheless, recently, some measures of corruption have been widely accepted and recognized by researchers. This paper is a critical review at these positions by reviewing the theoretical literature on the impact of corruption on an economy as a whole. In this paper we will treat the corruption level in Kosovo, and its presence in forms and ways how the bribe is been given. Instead, this document reviews different measurements of corruption to reveal that corruption is harmful for the economy.

The Problem of Factors that Determine the Economic Development of Modern Russia

2018 ◽  
pp. 37-41
Author(s):  
Елена Басовская ◽  
Elena Basovskaya ◽  
Леонид Басовский ◽  
Leonid Basovskiy
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Growth Rates ◽  
World Economy ◽  
Political Factors ◽  
The World ◽  
Before And After ◽  
Economic Growth Rates ◽  
The Impact ◽  
To Receive

In the economy of Russia after the crisis of 2008–2009 systemic changes were occurred. In the period before this crisis, Russia experienced economic growth, which was faster than the growth rate of the world economy, then after the crisis, economic growth rates do not exceed the growth rates of the world economy. To identify the reasons and factors for changing the model of economic development of the country, a project for researching the economy before and after the crisis of 2008–2009 is proposed. It is proposed to receive quantitative assessments of the impact of economic, socio-economic, political factors and other significant factors that determine productivity, differing by region of the country, by building econometric models of productivity in the form of expanded production functions.

scholarly journals Information Technology and the World Growth Resurgence

2007 ◽  
Vol 8 (2) ◽  
pp. 125-145 ◽  
Author(s):  
Dale W. Jorgenson ◽  
Khuong Vu
Keyword(s):  
Economic Growth ◽  
Information Technology ◽  
World Economy ◽  
It Investment ◽  
The World ◽  
World Economic ◽  
Per Capita ◽  
The Impact ◽  
Capita Output ◽  
World Output

Abstract This paper analyzes the impact of investment in information technology (IT) on the recent resurgence of world economic growth. We describe the growth of the world economy, seven regions, and 14 major economies during the period 1989-2004. We allocate the growth of world output between input growth and productivity and find, surprisingly, that input growth greatly predominates! Moreover, differences in per capita output levels are explained by differences in per capita input, rather than variations in productivity. The contributions of IT investment have increased in all regions, but especially in industrialized economies and Developing Asia.

scholarly journals COMPETITION AS A FACTOR OF ECONOMIC GROWTH: THE WORLD EXPERIENCE AND UKRAINIAN REALITIES

2018 ◽  
Vol 2018 (8) ◽  
pp. 3-15 ◽  
Author(s):  
Anatoliі SHCHERBAK ◽  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Developed Countries ◽  
Competitive Environment ◽  
Living Standard ◽  
Domestic Legislation ◽  
The World ◽  
Alternative Measures ◽  
Active Cluster ◽  
The Impact

The views of M. Porter on the importance of competition as a factor of economic development are analyzed. The policy of deregulation carried out by developed countries in recent decades was studied; its successes and limitations are noted. It is shown that implementation of the reform in Australia, aimed at development of competition, led to a significant improvement in economic indicators and increase in the living standard of the population. The OECD Toolkit for assessing the impact on competition has been analyzed. The Toolkit contains the methodology for identifying unnecessary restrictions on competition and developing the alternative measures to achieve the objectives. The state of competitive environment in Ukraine is researched. It is shown that restriction of competition and inequalities of its conditions significantly inhibit economic development. The reasons for rapid growth of Ukraine’s economy in 2000-2008 are analyzed. It is substantiated that one of the most important factors was the strengthening of internal competition as a result of reforms carried out in the 1990s. At the same time, the weakening of competition from the second half of the 2000s led to a decrease in competitiveness. The need for systematic work aimed at eliminating the anticompetitive norms from domestic legislation is substantiated. This work should be based on the OECD Toolkit to assess the impact on competition. It is emphasized that it is necessary to use only those tools that promote competition when implementing the policy. The necessity of active cluster support is substantiated.

scholarly journals The Impact of Culture and Creativity on the Economy of the City

2019 ◽  
Vol 7 (1) ◽  
pp. 272-289
Author(s):  
Kaspars Plotka ◽  
Jānis Viržbickis ◽  
Jānis Zvirgzdiņš ◽  
Ģirts Zariņš ◽  
Sanda Geipele
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Urban Development ◽  
Urban Environment ◽  
Economic Activity ◽  
Growth Potential ◽  
Necessary Condition ◽  
Cultural Industries ◽  
Modern Approach ◽  
The Impact

Abstract Creativity is an important component of the economy for modern cities, and necessary condition for it is the qualitative understanding of the economic theory science. In the global competition, it plays an important role for the economic growth dynamics, which is directly related to human resource role in the modern economy. The competitiveness of the territories depends on their attractiveness to economically active individuals and the opportunities they provide with economic growth. When considering the creative and cultural industries as potential economic development factors in the urban economy, culture can be considered as a new stage in urban development based on quality of life, creativity, which provide a level of degree for balance and determine the stability of the growth potential. The development of supporting urban infrastructure is identified as one of the drivers for expansion of the cultural and recreational domains both for the political and economic development. They reflect the specific characteristics of each city, the competitiveness versus attractiveness potential, and demonstrate the potential shift from the environment for production to a potentially new consumer environment with a higher “symbolic value”. The creative industries today can serve as an urban development domain tool, creating a modern approach to economic activity in various sectors of the economy. The authors draw attention to the cluster link between creative and cultural industries in urban planning. The authors propose a methodology for assessing revenues and costs, as well as recommendations for the work of cultural organisations and institutions involved in creating a creative urban environment. The article presents data and modelling results of the economic impact calculations for two imagined cities in order to theoretically approbate the methodology, which would help assess the socio-economic effect of the development of certain clusters. The aim of the research is to identify the impact of culture and creativity on the economy of city. The calculated information for decision makers would help formulate recommendations, evaluate potential developments of the urban environment, assist in planning and networking in urban agglomerations, based on clusters of creative and cultural industries, as the post-industrial city needs to make changes in order to achieve economic growth. The development of urban cluster of creative and cultural industries has a certain multiplicative effect, i.e., impact on the development of other types of economic activity.

scholarly journals ECONOMIC GROWTH V.S. ECONOMIC DEVELOPMENT – COMPLEMENTARY INDICATORS

2019 ◽  
Vol 2 (1) ◽  
pp. 28-38
Author(s):  
Vera Karadjova ◽  
Snezhana Dichevska
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Human Development ◽  
Growth And Development ◽  
Well Being ◽  
Economic Thought ◽  
Economic Science ◽  
Mutual Correlation ◽  
The World ◽  
Growth Development

The paper deals with a topic relating to the economic growth, development and general welfare of a national economy, a wider region, or even the entire world, through indicators that differentiate growth from development. It is a complex subject that contains numerous aspects of the life of a community in a certain space, which, because of its complexity, cannot be limited exclusively to economic aspects, so because of that cannot be limited exclusively to economic or monetary indicators. Life in a community besides the economic includes also legal, sociological, philosophical, psychological and other aspects, from which it logically results that measuring the development and welfare is a complex process that can hardly be limited to one indicator. In that sense, the paper addresses issues relating to production, distribution, fairness and equality, employment, unemployment, poverty, productivity, economic stability, sustainable development, human development, a sense of well-being and happiness, etc., in the direction of the thesis for the use of complementary development indicators. The complexity of the process of harmonizing the numerous indicators is further complicated by the need to calculate the degree of their mutual correlation, especially if it concerns divergent indicators or indicators that are mutually exclusive or have a negative correlation. The issue of welfare has been the subject of economic science interest since its very beginnings, even from the time of the first ancient thinkers when it was not singled out as an independent science, through the utopians, to contemporary economic thought. The economic operation and the rational use of limited resources in order to meet unlimited human needs is the heart of the economy. The basic indicator used to measure economic growth is undoubtedly the GDP and GDP per capita. But one has to take into account the distinction between quantitative growth and qualitative development, whereby GDP is an indicator of growth. Development is a broader concept that covers growth, but also technological and any other kind of advancement of the social community. Development as a qualitative feature means the advancement of the qualitative characteristics of society and the well-being of individuals, and the well-being is not only the increase of GDP, but the subjective sense of the people in the community that they live better, a sense of improving the quality of life. Growth and development together make the progress of the community. In this sense the paper elaborates just a few indicators of growth and development that are used parallel, such as GDP, Human Development Index, and the World Happiness index, that do not exclude each other and whose interwoven use gives a fuller picture of growth and development although the ranking of countries around the world according to one of these indicators may be quite different with respect to the ranking according to the other indicator. This only confirms the thesis of the need for a more comprehensive analysis of the analyzed issues and suggestions for a more comprehensive indicator that would be a complementary set of several alternative and complementary ones that would eliminate the shortcomings of its constituent parts, thereby obtaining a relevant indicator of economic development and welfare, without any intention to propose a concrete solution.

scholarly journals FINTEH IN THE FINANCIAL SYSTEM OF INCLUSIVENESS

2018 ◽  
pp. 100-120 ◽  
Author(s):  
Bohdan LUTSIV
Keyword(s):  
Economic Development ◽  
Financial Services ◽  
Banking Sector ◽  
Banking System ◽  
Inclusive Development ◽  
Social Orientation ◽  
Inclusive Growth ◽  
Market Demand ◽  
The World ◽  
The Impact

Introduction. The middle of 2000 years witness the shift in traditional economic development models to the concept of inclusive growth. The significant stratification of society and the growth of the share of the poor population due to financial and economic crises are the prerequisites for changing the paradigm of economic development of countries. According to the index of inclusive economic development (IDI) of 2018, published on the website of the World Economic Forum, Ukraine ranks 43rd among 74 developing countries. The introduction of the latest financial technologies in the banking system in recent years has significantly improved the qualitative characteristics of financial inclusiveness. The financial services market has radically changed. The boom of Finteh-startups is supported by smartphone population and penetration into all spheres of society of the fast Internet society. The purposeof the article is to assess the impact of financial technologies on the inclusive development of Ukraine in terms of banking sector cooperation with startup companies on the financial services market. Results. Concepts on the further development of the world economy in the long-term perspective are considered. Based on the analysis of modern economic literature, key points of inclusive growth are identified. In this context, the focus of the study is on financial inclusiveness. The emphasis is on strengthening the financial inclusiveness of the population in the adopted Strategy of the NBU by 2020. The most current trends of FinTeh in the world are described and the factors of development of FinTeh in Ukraine are analyzed. The given feature is the latest types of Finteh start-ups, challenges for the development of the FinTeh-market in Ukraine. Conclusions. The development of scientific thought and understanding of the transformation of social processes led to the transition from the concept of economism growth to the concept of inclusive development. The concept of inclusive development of the country is only part of the scientific discourse. Financial inclusiveness has not only financial but also social orientation. In Ukraine, FinTeh is in its infancy, the development of which is supported by a variety of initiatives and activities of the NBU. Given the current market demand, FinTeh solutions that are focused on financial inclusiveness and the mass market have the greatest potential for growth.

Economic Development and Institutional Change, 1820–1914

2018 ◽  
pp. 134-155
Author(s):  
Şevket Pamuk
Keyword(s):  
Economic Growth ◽  
Nineteenth Century ◽  
Economic Development ◽  
World War I ◽  
Human Development ◽  
Foreign Investment ◽  
World War ◽  
Coastal Regions ◽  
The World ◽  
Different Parts

This chapter studies the record in economic growth, income distribution, and human development for the areas within present-day borders of Turkey in both absolute and relative terms. Turkey's economy opened to foreign trade and foreign investment and specialization in agriculture increased during the nineteenth century. While the share of manufacturing activities declined, agricultural production for markets, both domestic and foreign, expanded, especially in the coastal regions. The chapter shows that the spread of industrialization around the world was quite uneven during the nineteenth century. The extent to which industrialization proceeded in different parts of the world can help explain much of the variation in economic growth observed worldwide until World War I.

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