Interdisciplinary approaches to the new paradigm of the global financial and monetary architecture after the Covid 19 pandemic crisis in correlation with the social problems in the EU countries

Ghenadie Ciobanu,Florin Dobre,Raluca Florentina Cretu,Mihai Dinu,T Kliestik

doi:10.1051/shsconf/202112901008

Ghenadie Ciobanu, Florin Dobre + Show 3 more

Open Access

https://doi.org/10.1051/shsconf/202112901008

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Abstract

Research background: How will the world change after the pandemic? What will be the trends of the global economy after the pandemic in the conditions of digital transformations and the impact of other cutting-edge technologies that will change both the global paradigms of the world economy and the global financial and monetary architecture? It is a problem both globally and in each country. Purpose of the article: In this article we aim to examine the processes of transformation of the financial architecture worldwide in the current conditions of financial-monetary globalization, but also of the revolutionary transformations of digitalization and cybersecurity of national, regional, and global financial systems. Research method: We start from the historical approach of the world financial and monetary phenomenon in correlation with the social evolutions. Another method of research is longitudinal: the study of the world financial and monetary phenomenon in time in the context of building the new paradigm of development at the global level with the transition of building paradigms at the national level. In this context, the statistical method and the method of collecting statistical information are also necessary. Findings & Value added: In the conditions when many countries face various serious problems of social, demographic, mass population migration, imbalances in labor markets, declining quality of life, the new international financial-monetary paradigms, but also regional and national ones demand to be correlated by promoting current policies and building economic, financial-monetary and social systems that correspond to solving these socio-economic problem.

Highlights

The problem of transformations of the international financial and monetary architecture discussed for many years in a row
Given the revolutionary transformations that are, taking place in the global economy primarily related to the impact of the digital revolution on the global economy, and of other technologies related to the development of the circular economy, the development of nanotechnologies and biotechnologies
In this order of ideas, we propose in this article to approach the respective problem with a certain spectrum of ideas and proposals that would support the construction of a new paradigm for the new global financial-monetary architecture

Summary

Introduction

The problem of transformations of the international financial and monetary architecture discussed for many years in a row. Given the revolutionary transformations that are, taking place in the global economy primarily related to the impact of the digital revolution on the global economy, and of other technologies related to the development of the circular economy, the development of nanotechnologies and biotechnologies. Since the last session of the “United Nations Conference on Trade and Development” four years ago, cracks and ruptures have deepened the global economy, threatening the achievement of sustainable development goals (Bran et al, 2018). These lines of error include growing inequalities, fueling public dissatisfaction with globalization, deepening the digital divide and unequal vulnerability to climate change (Bran et al, 2019). They include the growing disconnect between investment in the real economy and abundant financial markets, which have failed to fully fund the “2030 Agenda for Sustainable Development”, but have led to increased debt burdens and increased illicit financial flows (Jianu et al, 2019)

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