scholarly journals THE WORLD AFTER CORONAVIRUS PANDEMIC: CHANGING THE DEVELOPMENT PARADIGM OR PERPETUATING THE CRISIS

2020 ◽  
Vol 2 (3) ◽  
Author(s):  
Ognjen Radonjić ◽  
Miodrag Zec
Keyword(s):  
Economic Growth ◽  
Social Stratification ◽  
Economic Policies ◽  
Short Term ◽  
Financial Flows ◽  
The World ◽  
Global Shocks ◽  
World Income ◽  
Civil Sector ◽  
Development Paradigm

The world has once again faced a pandemic of an unknown virus. Unlike the others, at least when it comes to this century, no pandemic has caused such fear and led to great turbulence in production and financial flows. In the short term, it is possible to stabilize the system through the application of macroeconomic stimulus measures. However, if global economic policies continue, leading to strong social stratification, and thus subdued and unstable economic growth and perpetual financial crises, global shocks, such as this pandemic, will become more frequent, which will only deepen the problems. Sustainable and stable paths of economic growth and preparedness for systemic shocks require a fairer distribution of world income and wealth, preservation of the environment and intensive, constructive and functional cooperation between international institutions, the state, the private and civil sector and citizens.

scholarly journals Prospects for Vietnam’s Economy in 2013

2013 ◽  
Vol 215 ◽  
pp. 02-11
Author(s):  
NGÂN TRẦN HOÀNG
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
World Economy ◽  
Inflation Rate ◽  
Economic Restructuring ◽  
Short Term ◽  
Economic Growth Model ◽  
The World ◽  
Global Growth

In 2012, Vietnam?s economy faced great challenges. The world economy experienced more difficulties and complicated upheavals. International trade fell drastically while global growth rate was lower than predicted target, which affected badly the Vietnamese economy because of its full integration into the world economy and large openness. In this context, principal targets set for 2013 are macroeconomic stability, lower inflation rate, higher growth rate, three strategic breakthroughs associated with restructuring of the economy, and a new economic growth model. This paper analyzes obstacles to Vietnam?s economic growth, and offers short-term solutions to bottlenecks and long-term ones to the economic restructuring.

scholarly journals Modeling economic growth fuelled by science and technology

2010 ◽  
Vol 40 (2) ◽  
pp. 319-340 ◽  
Author(s):  
Leonardo Costa Ribeiro ◽  
Ricardo Machado Ruiz ◽  
Américo Tristão Bernardes ◽  
Eduardo da Motta e Albuquerque
Keyword(s):  
Economic Growth ◽  
Science And Technology ◽  
Science Technology ◽  
The World ◽  
Scientific Papers ◽  
World Income ◽  
World Income Distribution ◽  
Wealth Of Nations ◽  
Simulation Exercises

This paper suggests a simulation model to investigate how science and technology fuel economic growth. This model is built upon a synthesis of technological capabilities represented by national innovation systems. This paper gathers data of papers and patents for 183 countries between 1999 and 2003, as well as GDP and population for 2003. These data show a strong correlation between science, technology and income. Three simulation exercises are performed. Feeding our algorithm with data for population, patents and scientific papers, we obtain the world income distribution. These results support our conjecture on the role of science and technology as sources of the wealth of nations.

Problems in the Russian Economy Sectors' Development

2004 ◽  
pp. 86-95
Author(s):  
T. Eryomina ◽  
V. Matyatina ◽  
Yu. Plushchevskaya
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Growth Potential ◽  
Economic Policies ◽  
Financial Flows ◽  
Russian Economy ◽  
Government Sector ◽  
General Government ◽  
Changing Role

The article focuses on the development of major sectors of the Russian economy — non-financial corporations, households, general government sector — after the 1998 financial crisis. Serious problems in functioning of the non-financial enterprises sector limiting the economic growth potential are revealed. Disbalances in financial flows among major sectors of the Russian economy are pointed out. The analysis of the changing role of the general government sector in the economy in 1999-2003 is provided. The conclusion on the necessity of changing the state economic policies to promote economic development is drawn.

scholarly journals China’s Democratization Revisited

2021 ◽  
Vol 8 (6) ◽  
pp. 494-504
Author(s):  
Dong-Ching Day
Keyword(s):  
Economic Growth ◽  
Cold War ◽  
Berlin Wall ◽  
Short Term ◽  
Rapid Economic Growth ◽  
The World ◽  
China Model ◽  
Being Bullied ◽  
The Cold War ◽  
Democratic Country

When the Tiananmen Incident happened and the Berlin Wall collapsed in 1989 that indicated the end of the Cold War, some scholars predicted that China’s democratization would be realized in the short term. However, China not only didn’t become a democratic country, but also overtook Japan as the world number two economy in 2010; probably it will replace US as the world number one economy in 2030 which highly challenge the theory of economic growth bringing democratization. How come modernization theory doesn’t apply to China case after its rapid economic growth for decades?  The easiest way to argue why China hasn’t become democratic country based on theories of democratization is that they couldn’t fit into China’s special situation. If that is the case, then further question will be why China’s situation is so special and what are behind it. This paper is trying to explain why China hasn’t democratized from the perspective of identity, and elaborate that ‘Four insistences’, ‘Being bullied experiences’, and ‘Democracy’s disorder and China model’ are those factors enhancing China’s identity. If those factors don’t change, it is hard to see China democratization happening in the foreseeable future.

scholarly journals Country Risk Modeling in Indonesia: An Empirical Approach

2015 ◽  
Vol 7 (1) ◽  
pp. 155
Author(s):  
Muhammad Adnan ◽  
Sri Maemunah ◽  
Fitri Ismiyanti ◽  
Rudi Purwono
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Interest Rate ◽  
Significant Influence ◽  
Country Risk ◽  
Short Term ◽  
The World ◽  
World Economic ◽  
The Exchange Rate ◽  
The Interest Rate

<p>This study is intended to analyze the influence of internal and external risk factors considered relevant influencing the country risk. We find result of long term VECM estimation indicating that the exchange rate, the interest rate of certificate of Bank Indonesia (SBI) for 6 months and the world economic growth have positive and significant influence to country risk. Inflation, Indonesia economic growth, the Fed, and MSCI ACWI IMI return have negative and significant influence to country risk. All hypotheses presented in this study are theoretically and statistically accepted, except that the hypothesis on inflation is rejected because it is in controversy with theory, although statistically it has significant influence to the country risk in Indonesia.</p><p>Meanwhile the estimated output of VECM in a short term, the exchange rate, the interest rate of SBI for 6 months and the world economic growth have positive and significant influence to country risk. The Fed and MSCI ACWI IMI return have negative and significant influence to country risk. The hypotheses testing accepted from the estimated VECM in short term are the exchange rate, the SBI interest rate in 6 months, the Fed, the world economic growth and the return of MSCI ACWI IMI.</p>

The Hard Road Ahead for Thailand's Economic Recovery

2009 ◽  
Vol 8 (3) ◽  
pp. 113-137 ◽  
Author(s):  
Bhanupong Nidhiprabha
Keyword(s):  
Economic Growth ◽  
Direct Investment ◽  
Consumer Confidence ◽  
Economic Recovery ◽  
Production Networks ◽  
Short Term ◽  
Fiscal Stimulus ◽  
The World ◽  
Long Term Impact

Globalization leads to the increasing complexity of production networks through foreign direct investment, which transmits demand shocks from the rest of the world to the Thai economy. Short-term fiscal stimulus would not be able to shorten the length of recession unless consumer confidence is restored. Violation of established social obligations and contracts erodes business sentiment and eventually would lead to a negative long-term impact on economic growth. The duration of the recession and the speed of a recovery hinge on the government's ability to restore confidence during uncertain times.

scholarly journals The Relationship between Economic Liberalisation and Growth for the Central Asian Republics

2012 ◽  
Author(s):  
Ekrem Erdem ◽  
Oğuzhan Türker
Keyword(s):  
Economic Growth ◽  
Economic Policies ◽  
Short Term ◽  
Central Asian ◽  
Almost All ◽  
The Relationship ◽  
Central Asian Republics ◽  
Growth Economic ◽  
Business Freedom

With the increase in globalization, the liberalisation tendencies have appeared on countries’ economic policies as well as at other areas. The countries have performed liberalisation in almost all the areas of economy by increasing their economic growth. Economic liberalisation movements have especially intensified on foreign trade and finance. The aim of this paper is to exhibit the relationship between economic liberalisation and economic growth for the Central Asian Republics. There are few studies that examine the relationship between economic liberalisation and growth for the Central Asian Republics. In this paper, the relationship between economic liberalisation and economic growth has been tested for 1998-2011 period on the six Central Asian Republics which are Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan. Nine variables about economic liberalisation have been taken into account in the analysis. We reached two main results. Firstly, the countries have high index scores in terms of business freedom, trade freedom, fiscal freedom, government size and monetary freedom, while they have low index scores in terms of investment freedom, financial freedom, property rights, freedom from corruption. Secondly, there is no long-term relationship between economic freedom and growth for all countries. The available relations that we found out are short-term character.

scholarly journals The Impact of Globalisation on Economic Growth of Pakistan

2007 ◽  
Vol 46 (4II) ◽  
pp. 723-734 ◽  
Author(s):  
Mohammad Afzal
Keyword(s):  
Economic Growth ◽  
Full Employment ◽  
Global Market ◽  
Macroeconomic Policies ◽  
Financial Flows ◽  
Economic Implications ◽  
The World ◽  
The Government ◽  
National Economies ◽  
The Impact

Globalisation has diverse definitions and concepts.1 Globalisation has many facets and has a variety of social, political and economic implications. This term introduced in early 1980, which never precisely defined, is a frequently used word in the political economy. It simply means growing integration of the national economies, openness to trade, financial flows, foreign direct investment and the increasing interaction of people in all facets of their lives. Globalisation also implies internationalisation of production, distribution and marketing of goods and services. International integration implies the adoption of common policies by the individual countries. Between 1870 and 1914, the world was integrated into a single word economy dominated by one power: Great Britain. The government functions were limited and faced many constraints like gold standard and lack of freedom to pursue easy monetary policy. Later governments were burdened by performing many functions like achievement of macroeconomic goals—full employment, economic growth and price stability. Freedom of using macroeconomic policies resulted in greater integration of national economies but at the same time they led to international disintegration and interdependence. Streeten (1998) argues that today global market forces can lead to conflict between states, contributing to international disintegration and weakened governance. Before 1914, the world was more integrated than it is today but it did not prevent the First World War.

On the relationship of structural changes and economic growth in the world economy and Russia

2019 ◽  
pp. 54-78 ◽  
Author(s):  
V. V. Mironov ◽  
I. D. Konovalova
Keyword(s):  
Economic Growth ◽  
World Economy ◽  
Structural Changes ◽  
Economic Policies ◽  
Russian Economy ◽  
The World ◽  
Preliminary Version ◽  
The One ◽  
Relationship Of ◽  
The Relationship

The article analyzes the relationship between structural changes and economic growth in the world economy and Russia. The authors note the emergence of a growth model in the world economy based on the complementarity of economic policies aimed, on the one hand, at the development of fundamental foundations of economic growth (institutions, human capital, infrastructure, macroeconomic stabilization), and, on the other hand, at initiating growth through structural reforms (even under stable foundations). Analyzing the trends of structural changes in the world economy, the authors consider new forms of structural policy, in particular, the ones oriented at the issue of identification of sectors — potential drivers of economic growth using the portfolio approach. A preliminary version of the model of Russian economy based on the multi-sector variety of the Thirlwall’s law is presented in the paper.

scholarly journals Dambisa Moyo: Edge of Chaos: Why Democracy Is Failing to Deliver Economic Growth—and How to Fix It.

2019 ◽  
Vol 54 (4) ◽  
pp. 85-89
Author(s):  
José De Arimatéia Da Cruz
Keyword(s):  
Economic Growth ◽  
Liberal Democracy ◽  
Living Standards ◽  
First Century ◽  
Short Term ◽  
Liberal Democracies ◽  
Scarce Resources ◽  
Edge Of Chaos ◽  
The World ◽  
Aging Populations

Around the world, people who are angry at stagnant wages and growing inequality have rebelled against established governments and turned to political extremes. Liberal democracy, history's greatest engine of growth, now struggles to overcome unprecedented economic headwinds--from aging populations to scarce resources to unsustainable debt burdens. Hobbled by short-term thinking and ideological dogma, democracies risk falling prey to nationalism and protectionism that will deliver declining living standards. In Edge of Chaos, Dambisa Moyo shows why economic growth is essential to global stability, and why liberal democracies are failing to produce it today. Rather than turning away from democracy, she argues, we must fundamentally reform it. Edge of Chaos presents a radical blueprint for change in order to galvanize growth and ensure the survival of democracy in the twenty-first century.

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