Unification of Economic Systems in the Global Economy: Barriers and Preconditions

Svetlana G Vokina,Aleksandra V Sultanova,Nikolai G Sinyavsky,Yulia S Zima,Vadim Meshkov

doi:10.5709/ce.1897-9254.222

Abstract

The purpose of the article is to determine barriers and preconditions for reducing the differences in the level of development in the global economy’s countries and to develop recommendations for solving the problem of the global economy’s economic systems unification. In order to determine the gap between developed and developing countries, the authors use the comparative analysis method. In order to determine possibilities, problems, perspectives, and threats to overcoming the gap by developing countries, the authors use the SWOT-analysis method. For studying the global economy’s economic development disproportions, this research uses specially developed proprietary analysis of gap depth in economic development. As a result of the analysis, the authors determined that the level of economic development of the most developed countries exceeds the level of developing countries by more than four times. This reflects a huge gap depth and a high level of differentiation for countries in the global economy. The authors conclude that barriers of unification of economic systems in the global economy are primarily related to socio-political factors. Preconditions to reducing the difference in level of economic development for countries in the global economy are predetermined by the influence of globalization and international integration of economic systems.

Highlights

It is difficult to overestimate the actuality of the studying the problem of unification of economic system
Several of the most typical systems for each of three categories of countries are selected, and the most significant indicators of their economic development are viewed:
It is acknowledged that developed countries have a post-industrial GDP structure, low rate of GDP growth, substantial volume of investments into the economy, high rate of innovational products, and positive migration flow

Summary

Introduction

It is difficult to overestimate the actuality of the studying the problem of unification of economic system. The global economy’s change in polarity after the. There are many economic systems that develop very quickly and create separate categories of countries, including NIC, BRICS, etc. They cannot be considered to be developed countries yet, but in the near future they can reach this www.ce.vizja.pl Vizja Press&IT. These countries are the most perspective players in the system of modern international economic relations, and their economic state is the most predictable

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