scholarly journals THE IMPACT OF THE COVID-19 PANDEMIC ON INDUSTRY 4.0 IN THE CONTEXT OF GLOBAL ECONOMIC DEVELOPMENT

InterConf ◽  
2021 ◽  
pp. 54-59
Author(s):  
Bohdana Hunko
Keyword(s):  
Economic Development ◽  
Industry 4.0 ◽  
Global Economy ◽  
Industrial Revolution ◽  
Negative Consequences ◽  
Negative Effects ◽  
Technology Industry ◽  
World Economic ◽  
The Impact

The paper analyzes the role of Industry 4.0 in the process of overcoming the global economy from the crisis situation associated with the total Covid-19 pandemic. The aspect of economic profitability of using the technologies of the fourth industrial revolution to improve world economic development in the context of the Covid-19 pandemic was also identified. The author identified the positive and negative consequences of the involvement of technology Industry 4.0, on the basis of which a number of recommendations for small and medium-sized businesses were formed in order to quickly overcome the negative effects of the crisis. Based on the work, the author formulated a number of trends and prospects for global economic development, taking into account the current conditions of the Covid-19 pandemic.

scholarly journals Discuss and Analyze the Role and Impact of Industrial Policy on Economic Development and especially in Developing Countries

2021 ◽  
Vol 1 (137) ◽  
pp. 81-94
Author(s):  
Maryam Saleh shafeek
Keyword(s):  
Developing Countries ◽  
Economic Development ◽  
Industrial Policy ◽  
Global Economy ◽  
The United States ◽  
Negative Consequences ◽  
Negative Effects ◽  
Industrial Base ◽  
Push Forward

Different countries, especially developing ones, have resorted since the middle of the last century to using industrial policy in order to expand the industrial base and push forward the economic development wheel. Tangible results have been achieved in many Asian countries, while no such results have been achieved in the countries of Latin America and Africa. Support has been dropped for the application of industrial policy since the mid-eighties of the last century because of the negative consequences resulting from it and then return again in the recent period. The research aims to analyze and discuss industrial policy and the extent of the need to use it in developing countries, it focuses on discussing the ideas and propositions of the two different approaches towards industrial policy. The first represents the position of those opposed to the industrial policy, and the second represents the position of those who support it. Those opposed to the industrial policy are the neoliberals in the United States of America who stress the role of the market in achieving development and point to the negative effects of industrial policy, while in favor of industrial policy book theoreticians Many economists because of the existence of globalization and the WTO rules and the changing nature of the global economy and that creates difficulties and impediments to developing countries and weaken the influence of industrial policy. Through analysis and discussion of the various propositions and evidence, the research ends with recommending the use of a carefully formulated industrial policy as a means to achieve economic development in developing countries and overcome the negative effects on them. With the call to adjust the policies and rules of the World Trade Organization and the global economic system in line with the need of developing countries for the development of industrialization and promoting economic development.

The Role of Oil and Gas in the Economic Development of the Global Economy

2018 ◽  
Author(s):  
Paul Stevens
Keyword(s):  
Economic Development ◽  
Global Economy ◽  
Oil And Gas ◽  
Primary Energy ◽  
Oil And Gas Producers ◽  
The Future ◽  
History Of ◽  
Factor Inputs ◽  
The Impact

This chapter is concerned with the role of oil and gas in the economic development of the global economy. It focuses on the context in which established and newer oil and gas producers in developing countries must frame their policies to optimize the benefits of such resources. It outlines a history of the issue over the last twenty-five years. It considers oil and gas as factor inputs, their role in global trade, the role of oil prices in the macroeconomy and the impact of the geopolitics of oil and gas. It then considers various conventional views of the future of oil and gas in the primary energy mix. Finally, it challenges the drivers behind these conventional views of the future with an emphasis on why they may prove to be different from what is expected and how this may change the context in which producers must frame their policy responses.

CONCEPTUAL PRINCIPLES OF ACHIEVING INTELLECTUAL LEADERSHIP

2021 ◽  
Vol 6 (2) ◽  
pp. 100-104
Author(s):  
Liudmyla Tsymbal
Keyword(s):  
Economic Development ◽  
Intellectual Capital ◽  
Global Economy ◽  
Physical Capital ◽  
Developed Countries ◽  
Educational Process ◽  
High Tech ◽  
The Impact ◽  
Intellectual Leadership

The article identifies the key conceptual foundations for the formation of intellectual leadership of economic entities, including countries as specific actors in the global economy. Thorough preconditions for increasing the level of economic development and the impact of education have been identified. It is determined that historical concepts and modern realities of economic activity only actualize the role of education and enlightenment in the economic development of the national economy and ensuring its competitiveness. The strategies of increasing the competitiveness of individual countries of the world are analyzed, their key priorities in the conditions of formation of the knowledge economy are determined. The evolution of views on the role of human and intellectual capital in increasing the welfare of countries, the impact on GDP and other macroeconomic indicators is described. The ratings of countries are analyzed, in particular by the level of investment in intellectual capital and the structure of their GDP, which confirms the dominance of science-intensive economic activities. In addition, it was determined that the leading countries are characterized by increasing the role of knowledge-intensive activities, increasing the share of intangible assets, redistribution of capital of leading international companies and increasing research spending, increasing investment in human and intellectual capital, increasing exports of high-tech products. Analytical assessment confirms the advanced development of science-intensive industries in countries with developed economies, which creates the need for training and retraining of specialists needed for such industries. In modern conditions, the educational process ceases to be predominantly the prerogative of young people, and becomes a lifelong process, which increases spending on education in developed countries, but without denying the significant asymmetries on this indicator. Research confirms the direct relationship between the quality of human and physical capital and economic development, which is typical of highly developed countries, one of the main reasons for the development lag of the poorest countries. In addition, the article substantiates the key factors of intellectual leadership and their impact on the development of economic development strategies.

scholarly journals The Characteristics of the Fourth Industrial Revolution: Buzzword, Hype or a Radical Change?

E-conom ◽  
2020 ◽  
Vol 9 (1) ◽  
pp. 91-104
Author(s):  
László Koloszár ◽  
Nikoletta Németh
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
German Economy ◽  
Radical Change ◽  
System Level ◽  
High Tech ◽  
Fourth Industrial Revolution ◽  
World Economic ◽  
The Impact ◽  
Industrial Revolutions

The usage of the terms the ’Fourth Industrial Revolution’ and its predominantly used synonym ‘Industry 4.0’ has curved upwards at a higher rate than the number of underlying interconnected production units. The concept of Industry 4.0 originates from a project on the high-tech strategy of the German government in 2011. This project promoted the computerization of manufacturing and it was a logical suggestion for the long-term competitiveness of the German economy. The fundamentals of an export-oriented economy need system-level development not to be disadvantaged in the global competition. Building all this on the most modern technologies can be defined as a traditional step. The umbrella term ’Industry 4.0’ has outgrown this step and in 2016 it became an independent agenda item of the World Economic Forum. In this study, with the help of a literature review, we examine which factors of this so-called fourth industrial revolution are similar and which factors are different compared to the previous industrial revolutions. Can the characteristics of industrial revolutions be identified? Is the impact complex and does it influence not only the technology but also the society, the politics, etc.? Whether the use of the term is substantiated or is it only an advanced, fashionable buzzer hanging all today’s forward-looking innovations on the same peg?

scholarly journals DEVELOPMENT OF THE BANKING SECTOR OF UKRAINE IN THE SPACE OF FORMATION OF DESTRUCTIVE CONSEQUENCES OF THE INFLUENCE OF THE GLOBAL FINANCIAL AND ECONOMIC CRISES: ECONOMIC AND LEGAL ASPECTS

THE BULLETIN ◽  
2021 ◽  
Vol 389 (1) ◽  
pp. 137-145
Author(s):  
V. Y. Vovk ◽  
Yu.V. Zhezherun ◽  
V.G. Kostohryz ◽  
V. О. Maliarova
Keyword(s):  
Economic Development ◽  
Financial Markets ◽  
Economic Crisis ◽  
Global Economy ◽  
Banking Sector ◽  
Banking System ◽  
Negative Consequences ◽  
Economic Crises ◽  
The World ◽  
The Impact

The article examines the impact of globalization on the development of the world and national economic systems. The high probability of a global economic recession due to the coronavirus outbreak is projected to have significant consequences for both the global economy and the economy of Ukraine. Due to the probable change in the structure of the world economy and logistics, there is a growing need to study the risks of the national banking system, which demonstrates a high dependence on global financial markets. The peculiarities of the manifestation of financial and economic crises in the conditions of turbulence of the international financial markets and strengthening of financial instability have been considered. The causes and consequences of crises in the banking sector of Ukraine have been studied. The analysis of macroeconomic indicators of economic development of Ukraine during 2006-2019 with identifying of crisis periods has been carried out. Particular attention has been paid to the study of the preconditions for the emergence and consequences of the global financial and economic crisis for the economy of Ukraine in general and the banking sector in particular. Indicators that characterize the degree of penetration of the banking system into the economy of Ukraine have been analyzed, that will determine the features of crises at different stages of socio-economic development and conduct a comparative assessment of anti-crisis measures of the NBU aimed at stabilizing the banking sector. Taking into account the fact that the causes of financial and economic crises are not identical, measures used during the Global Financial and Economic Crisis of 2007-2011 cannot be taken to overcome the negative consequences of the Coronacrisis of 2020. Regulatory aspects of the banking system in times of crisis have been systematized. An attempt to predict the possible development of events in the domestic banking sector in the context of the Coronacrisis of 2020 has been made. The purpose of the article is to study the development trends of the banking sector of Ukraine in the space of formation of the destructive consequences of the global financial and economic crises and to determine the main directions of anti-crisis regulation of banking.

scholarly journals Biological hazard risk studies: a comparative analysis of approaches and the role of insurance

2021 ◽  
Vol 37 (2) ◽  
pp. 344-367
Author(s):  
Sergey Belozyorov ◽  
◽  
Olena Sokolovska ◽  
Anna Faizova ◽  
◽  
...  
Keyword(s):  
Global Economy ◽  
Economic Consequences ◽  
Management Tool ◽  
Negative Consequences ◽  
Scientific Publications ◽  
Systematic Analysis ◽  
Theoretical Approaches ◽  
Biological Hazard ◽  
The Impact

The pandemic of the new coronavirus disease (COVID-19) has a huge impact on the global economy, significantly affecting the functioning of all its sectors. In this regard, the search for ways to minimize the negative consequences of such risks is of particular relevance. The article presents the results of a systematic analysis of scientific publications by leading foreign and Russian authors on various aspects of the risks arising from viral threats, as well as ways to reduce the negative consequences of such risks. In particular, studies that evaluate the impact on the economy of various factors that occur during and after epidemics are examined. The analysis of publications showed that researchers distinguish the following factors: 1) the social system of the state; 2) government expenses on the fight against the epidemic; 3) the role of international organizations in combating epidemics in individual countries. Further, various approaches to the construction of models describing the spread of biological threats reflected in publications of representatives of various scientific fields, in particular medical and economicmathematical, including actuarial, modeling are analyzed. Three approaches to modeling the development of infectious diseases are considered, which differ both in the apparatus used and in the predominant field of application of the corresponding models. Particular attention is paid to the contribution that insurance research can make to the development of new theoretical approaches to mitigate the negative economic consequences of COVID-19. The authors distinguish three areas: 1) the use of actuarial models for the analysis and assessment of the risks of biological threats; 2) the use of relevant insurance products in the insurance market as an epidemic risk management tool that provides financial protection; 3) the use of innovative technologies in rendering insurance services (InsurTech).

scholarly journals Existence of Cyclical and Non-Cyclic Interactions between Markets

2019 ◽  
Vol 11 (4) ◽  
pp. 35-45
Author(s):  
D. E. Danilov
Keyword(s):  
Industry 4.0 ◽  
Industrial Revolution ◽  
Fundamental Question ◽  
Rational Behavior ◽  
Government Officials ◽  
Economic Sectors ◽  
Fourth Industrial Revolution ◽  
The Impact ◽  
High Processing

The issue of the intensity of digitalization in various economic sectors causes the increasing scientific interest among economists and government officials. A correct assessment of the impact of the fourth industrial revolution, or Industry 4.0, on complexes markets is an important task for understanding the process and its impact on the country’s economy. In this paper, a version of a theoretical model is proposed that demonstrates the presence of cyclical and non-cyclical connections between the markets. As a tool of illustration, graph theory was used, which is the main way of game theory for demonstration the rational behavior of participants-players.  The companion idea of current work is the fundamental question of economic theory, which is expressed in the existence of the dominate role of the firm in markets with technological link, which may be cyclical or non-cyclical. The example of the cyclic linkage of the markets may be the interaction between markets of a software and OS, while example markets prone digitalization may be high processing industry.  

scholarly journals The impact of monopolism on the stability of economic development in the conditions of globalization

2020 ◽  
Vol 74 ◽  
pp. 06013
Author(s):  
Tatiana Kotcofana ◽  
Armen Altunyan ◽  
Viktoria Bazzhina
Keyword(s):  
Economic Development ◽  
Global Economy ◽  
Price Index ◽  
Negative Impact ◽  
Consumer Price Index ◽  
Reproductive Process ◽  
Producer Price ◽  
The Stability ◽  
The Impact

The article discusses the impact of the level of monopolization of markets on the sustainability of economic development and, above all, on the development of inflationary processes in terms of the reproduction approach in the global economy. The purpose of the article is to show the key role of monopolism in the genesis of inflation and its negative impact on the sustainability of economic development. The article uses a reproductive approach to the analysis of economic phenomena and processes. Using dialectical materialistic and concrete historical methods, it is shown how monopolism contributes to the development of inflation at all stages of the reproductive process. So, in Russia throughout the entire period of reforms, with the exception of individual years, the producer price index of industrial products grew faster than the consumer price index, and prices in more monopolized industries grew much faster than in less monopolized ones, which confirms the important the role of monopolies in the unwinding of the inflationary process.

Peculiarities of Modern Dynamics of the Global Economy

2010 ◽  
pp. 78-92 ◽  
Author(s):  
V. Klinov
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Business Cycles ◽  
Global Economy ◽  
Long Waves ◽  
Rapid Expansion ◽  
Business Taxation ◽  
Modern World ◽  
China And India ◽  
World Economic

Rates and factors of modern world economic growth and the consequences of rapid expansion of the economies of China and India are analyzed in the article. Modification of business cycles and long waves of economic development are evaluated. The need of reforming business taxation is demonstrated.

Sign in / Sign up

Export Citation Format

Share Document