Trajectory of Steady Growth or Next Disbalance of Mechanisms of the World Economy

Main objective of the article – assessment of problems and opportunities of speeding up of world economic growth in the context of the crisis phenomena and turbulence in economy. Complication and reformatting of the economic relations between the countries represents serious challenges for modern ec...

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Autores principales:	E. N. Smirnov, V. N. Kirillov
Formato:	article
Lenguaje:	EN RU
Publicado:	MGIMO University Press 2019
Materias:	economic growth economic dynamics recession external debt antitrust regulation digitalization International relations JZ2-6530
Acceso en línea:	https://doaj.org/article/0a1611834a81481a826eb3da863c4071
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spelling	oai:doaj.org-article:0a1611834a81481a826eb3da863c40712021-11-23T14:50:41ZTrajectory of Steady Growth or Next Disbalance of Mechanisms of the World Economy2071-81602541-909910.24833/2071-8160-2019-5-68-64-90https://doaj.org/article/0a1611834a81481a826eb3da863c40712019-11-01T00:00:00Zhttps://www.vestnik.mgimo.ru/jour/article/view/1045https://doaj.org/toc/2071-8160https://doaj.org/toc/2541-9099Main objective of the article – assessment of problems and opportunities of speeding up of world economic growth in the context of the crisis phenomena and turbulence in economy. Complication and reformatting of the economic relations between the countries represents serious challenges for modern economic dynamics. Methodological approach of the authors is based on assessment of the defining influence of new factors on delay of economic activity and economic development. The thesis about the defining impact of international trade on economic growth is called into question. It was analyzed the value and a role of the international companies as growth catalysts in the conditions of new technological revolution. It is established that risks of development of the world economy continue to increase, and the main of them – in decline in labor productivity in the developed countries, uncertainty concerning interest rates and economic policy of the states, the universal growth of sovereign and corporate debt of the states. It is shown that China has the increasing problems with the growth; however the flexibility of its economic policy allows to connect additional mechanisms of speeding up of social and economic development. In the European Union economic growth depends on the solution of problems of consolidation of the budgetary process, decrease in a debt, and in general – on reforming of the existing model of social and economic development. Prospects of economic dynamics will depend in many respects on stability of trade relations between the countries, and on the effective international cooperation directed to overcoming imbalances of the modern world economy. Opportunities and problems of an exit of developing countries to a trajectory of sustained economic growth in the conditions of digitalization and digital transformations in the world economy are estimated. Aggravation of a problem of inequality in the conditions of digitalization of the world economy is possible to overcome, however a number of measures in the sphere of industrial, innovative and regulatory policy is necessary. Also at the international level serious reforms in the sphere of financial regulation and taxation are necessary. The conclusions received as a result of the research have important practical importance as overcoming the problems stated above and also trade political differences between the countries will make economic growth steady and inclusive.E. N. SmirnovV. N. KirillovMGIMO University Pressarticleeconomic growtheconomic dynamicsrecessionexternal debtantitrust regulationdigitalizationInternational relationsJZ2-6530ENRUVestnik MGIMO-Universiteta, Vol 12, Iss 5, Pp 64-90 (2019)
institution	DOAJ
collection	DOAJ
language	EN RU
topic	economic growth economic dynamics recession external debt antitrust regulation digitalization International relations JZ2-6530
spellingShingle	economic growth economic dynamics recession external debt antitrust regulation digitalization International relations JZ2-6530 E. N. Smirnov V. N. Kirillov Trajectory of Steady Growth or Next Disbalance of Mechanisms of the World Economy
description	Main objective of the article – assessment of problems and opportunities of speeding up of world economic growth in the context of the crisis phenomena and turbulence in economy. Complication and reformatting of the economic relations between the countries represents serious challenges for modern economic dynamics. Methodological approach of the authors is based on assessment of the defining influence of new factors on delay of economic activity and economic development. The thesis about the defining impact of international trade on economic growth is called into question. It was analyzed the value and a role of the international companies as growth catalysts in the conditions of new technological revolution. It is established that risks of development of the world economy continue to increase, and the main of them – in decline in labor productivity in the developed countries, uncertainty concerning interest rates and economic policy of the states, the universal growth of sovereign and corporate debt of the states. It is shown that China has the increasing problems with the growth; however the flexibility of its economic policy allows to connect additional mechanisms of speeding up of social and economic development. In the European Union economic growth depends on the solution of problems of consolidation of the budgetary process, decrease in a debt, and in general – on reforming of the existing model of social and economic development. Prospects of economic dynamics will depend in many respects on stability of trade relations between the countries, and on the effective international cooperation directed to overcoming imbalances of the modern world economy. Opportunities and problems of an exit of developing countries to a trajectory of sustained economic growth in the conditions of digitalization and digital transformations in the world economy are estimated. Aggravation of a problem of inequality in the conditions of digitalization of the world economy is possible to overcome, however a number of measures in the sphere of industrial, innovative and regulatory policy is necessary. Also at the international level serious reforms in the sphere of financial regulation and taxation are necessary. The conclusions received as a result of the research have important practical importance as overcoming the problems stated above and also trade political differences between the countries will make economic growth steady and inclusive.
format	article
author	E. N. Smirnov V. N. Kirillov
author_facet	E. N. Smirnov V. N. Kirillov
author_sort	E. N. Smirnov
title	Trajectory of Steady Growth or Next Disbalance of Mechanisms of the World Economy
title_short	Trajectory of Steady Growth or Next Disbalance of Mechanisms of the World Economy
title_full	Trajectory of Steady Growth or Next Disbalance of Mechanisms of the World Economy
title_fullStr	Trajectory of Steady Growth or Next Disbalance of Mechanisms of the World Economy
title_full_unstemmed	Trajectory of Steady Growth or Next Disbalance of Mechanisms of the World Economy
title_sort	trajectory of steady growth or next disbalance of mechanisms of the world economy
publisher	MGIMO University Press
publishDate	2019
url	https://doaj.org/article/0a1611834a81481a826eb3da863c4071
work_keys_str_mv	AT ensmirnov trajectoryofsteadygrowthornextdisbalanceofmechanismsoftheworldeconomy AT vnkirillov trajectoryofsteadygrowthornextdisbalanceofmechanismsoftheworldeconomy
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Trajectory of Steady Growth or Next Disbalance of Mechanisms of the World Economy

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