World Economy Research Articles

Climate-resilient transportation policies for India: Strategies and challenges

The transportation sector in India, which is a vital engine for economic growth, is progressively facing challenges related to climate change. Increased temperature, extreme weather conditions, and rising seas threaten physical infrastructure, service delivery, and the economy. This research examines efforts towards improving the climate resilience of India’s transport sector through policy interventions. Strategies encompass broadening the focus to cover the integration of sustainability, innovative technology deployment, and adaptive infrastructure planning. Multi-sectoral measures are proposed to guarantee longevity, equity and environmental protection. National transport infrastructure will be secured, people will be enabled to move sustainably, and India will take its position in the world economy as a climate-resilient country. Long-term resource management and promoting inclusive governance are critical to agri-transportation systems that can withstand the changing climate.

First-Principle Calculations on O-Doped Hexagonal Boron Nitride (H-BN) for Carbon Dioxide (CO2) Reduction into C1 Products.

With the rapid growth of the world population and economy, the greenhouse effect caused by CO2 emissions is becoming more and more serious. To achieve the "two-carbon" goal as soon as possible, the carbon dioxide reduction reaction is one of the most promising strategies due to its economic and environmental friendliness. As an analog of graphene, monolayer h-BN is considered to be a potential catalyst. To systematically and theoretically study the effect of O doping on the CO2 reduction catalytic properties of monolayer h-BN, we have perform a series of first-principle calculations in this paper. The structural analysis demonstrates that O preferentially replaces N, leading to decreasing VBM of monolayer h-BN, which is conducive to improving its capability for CO2 reduction. The preferential CO2 adsorption sites on monolayer h-BN before and after O doping are the N-t site and B-t site, respectively. O doping increases the adsorption strength of CO2, which is favorable in the further hydrogenation of CO2. During the conversion of CO2 into CO and HCOOH via a two-electron pathway and CH3OH and CH4 via a six-electron pathway, O doping can reduce the energy barrier of the rate determining step (RDS) and change the key steps from uphill reactions to downhill reactions, thus increasing the probability of CO2 reduction. In conclusion, O(N)-doped h-BN exhibits the excellent CO2 reduction performance and has the potential to be a promising catalyst.

Lithium deposits from the mesoarchean to present: their types, distribution in geological time, explored resource base

The distribution of lithium deposits and lithium resources contained in them are analyzed throughout geological time. The basis for the analysis is data on 164 deposits from around the world with resources estimated above 100 thousand tons of Li 2 O, representing almost the entire explored resource base attractive in the modern and near future conditions to extract this element. The variability of various aspects of their formation in geological time is demonstrated by comparing supercontinent cycles in terms of the quantity and quality of resources in deposits of different types, ages, and tectonic position. It has been established that lithium deposits have an extremely uneven pulsed distribution on the geological time scale. The Kenoran, Columbian, and Rodinian cycles are represented only by the pegmatite type deposits, which intensity of formation decreased in this raw. In the Pangean cycle, it increased again, approaching the Kenoran level. In addition, the first deposits of a granite type appeared. In the current Amasian cycle, deposits of the granite type quantitatively predominate over the pegmatite type, but they both yield quantitatively to the clay type deposits only appeared in this cycle. In terms of the resources, all these three types with solid ores are inferior to deposits associated with brines in salars, geothermal and oil-and-gas fields. All deposits from the Kenoran to Pangean cycles were formed in collision belts at the post-orogenic stage of their development. In the Amasian cycle, continuity in this aspect was preserved, but deposits of granite and clay types formed in the back zones of active continental margins were also established. Deposits in salars also have these two tectonic positions. Geothermal deposits are known within the framework of collisional orogens and on active continental margins. Oil-and-gas fields have been explored only in the sedimentary covers of ancient platforms. Currently, objects of pegmatite and salar types are of maximum importance for the world economy, and the granite type deposits are of less significance. All of them are traditional for lithium extraction. In the pegmatite type, the Kenoran deposits have the highest degree of industrial development, in the granite type – deposits of the Amasian cycle. In recent years, single deposits of clay, geothermal and oil-and-gas field types began to be involved in the exploitation, as well as representatives of the salar type with brine compositions that have not been suitable for conventional technologies.

Modern trends in digital transformation of the world economy and their practical application in the Russian Federation

Subject. The article deals with the integration of digital technologies into various spheres of society. Objectives. The study aims at the extrapolation of the most effective areas of digital transformation of the world economy to the Russian practice to implement new competitive opportunities. Methods. We employed methods of logical and comparative analysis. Results. Active digitalization increases the competitiveness of the economy and labor productivity. The inclusion of the position of Director of Digital Technologies in the staffing table of large enterprises will contribute to the development of the digital economy in Russia. Conclusions. Our recommendations will increase the profitability of investing in digital transformation. The findings may be helpful for company executives when forming a digital transformation strategy, as well as for private investors.

Mechanisms of Monetary Cooperation in BRICS: First Results and New Challenges

The issues of creating a more equitable global monetary and financial system have been constantly in the focus of the BRIC countries since 2006. Gradual introduction of unprecedented restrictive measures against one of the participants – Russia – forced member states to intensify the work on diminishing their dependence on actions of the United States, searching for alternative ways of payment for goods and services and reducing transactions in US dollars. The article analyses prerequisites for development of monetary cooperation within BRICS and implications of the measures already taken in this direction. The extent to which introduction of a common currency can contribute or, on the contrary, create barriers to deepening economic integration within BRICS is explored. The experience of introducing euro in the EU shows that the decision on joining a common currency is not just an economic, but also a political one. Ignoring the risks associated with a radical change in payment systems can lead to serious disruptions in the world economy and push exporters and importers away from implementation of agreements reached at the highest level. The authors come to the conclusion that speeding up currency cooperation without relying on comprehensive consideration of the interests of BRICS countries and assessment of potential costs and benefits can lead to deterioration of the terms of mutual trade against the backdrop of the US attempts to maintain the existing architecture of global monetary system with absolute domination of the US dollar.

Distinctive Features of the Mexican Automobile Industry and its Industrial Integration in North America

The article analyzes the economic state of the Mexican automotive industry at the beginning of the third decade of the 21st century, with a special emphasis on the obstacles preventing the further successful development of the industry. Due to the significant changes in the structure of the global automotive market that have occurred in the last decade, the Mexican automotive industry, which is one of the key manufacturing sectors in the country's GDP, requires deep technological transformation, as well as access to new promising markets in developing countries. Based on the results of an analysis of modern economic indicators and factors that significantly influence the situation in the country's automotive industry, the article proposes various opportunities for solving existing problems, which in the future will reveal the potential of the industry and bring the existing business processes within it into line with the goals of achieving a zero-emission balance CO2 and sustainable development of the world economy.

Evolution of China's Role in the Asia-Pacific Region

In the 30 years since China joined APEC, China has actively participated in various forms of economic cooperation in the Asia-Pacific region, and has been a firm and active supporter of Asia-Pacific economic cooperation. China has closely integrated Asia-Pacific economic cooperation and its own development. China has become the second largest economy in the world, and its role is also changing significantly. By promoting China's economic development - it has promoted economic development and social progress, improved people's living standards and made great contributions to development in the Asia-Pacific region. China is playing an increasingly important role in the world. It has played an active role in building an open world economy, supporting the multilateral trading system and guiding the development of economic globalization. China's rapid consolidation of its comprehensive state power has shattered the original power structure in the Asia-Pacific region and changed the original territorial pattern. Against this background, key economies in the region, such as the US, Japan and ASEAN, are also making strategic adjustments that have a significant impact on the order in the Asia-Pacific region. In recent years, the US has been trying to create a group political environment in the Asia-Pacific region in order to suppress and isolate China. The final shape of the changing order in the Asia-Pacific depends on the great power competition and the degree of China's development. Ultimately, the role China hopes to play may also be achieved.

SOVREMENNAYa INNOVATsIONNAYa POLITIKA, ORIENTIROVANNAYa NA MISSII (primer Germanii)

New trends in global economic development, such as the processes of transnationalisation, economic and energy crises, gaps in foreign trade and logistics chains, challenges of modern technological development, intensify the competition of companies in world markets. The governments of the developed countries and large multinational corporations are actively engaged in radical transformation of the modern social and economic world development model on the basis of the 2030 Agenda for Sustainable Development. Germany is at the forefront of this global agenda. According to the German government, the development and introduction of transformative innovations is one of the tools that brings the world closer to sustainable development model. Such innovations do not only lead to technical progress, but also solve important social problems. To force through rapid modernisation German government has chosen a time-tested method – mission-oriented innovation policy (MOIP). State becomes the leading actor of the national innovation system, setting the goals of technological development and mobilising economic resources required to achieve these goals. For the first time, the missions of innovation policy were formalised in government documents in 2018. In early 2023 the new German government updated the drafting and composition of the missions. This article discusses the theoretical foundations of the MOIP approach to the formation of government innovation policy, describes the missions of the innovation policy of Germany, approved in 2018 and 2023, and examines the practical results of the implementation of some missions in 2018‒2022 on the example of renewable energy technologies introduction, building up battery cell production in Germany, developing clean mobility, putting German indigenous artificial intelligence technologies into practical application, digital healthcare, creating sustainable circular economies.

An Overview of China and Japan Economic Relations and Interdependence

This paper explores the evolving economic relationship and interdependence between China and Japan, two of the world's largest economies. Since the normalization of diplomatic relations, Sino-Japanese economic ties have expanded from simple trade to a comprehensive, multi-faceted partnership, encompassing bilateral trade, investment, financial cooperation, and regional integration. Despite challenges such as anti-globalization, trade protectionism, and the impact of the COVID-19 pandemic, there is significant potential for collaboration in emerging fields like the digital economy, artificial intelligence, and public health. The analysis reveals an asymmetric interdependence, with China exhibiting sensitivity but not vulnerability in this relationship. This dynamic has implications for both countries' economic policies and regional stability. The paper also examines the role of power asymmetries and the strategic adjustments made by Japan, including its increased engagement with India.It concludes by emphasizing the importance of understanding this complex relationship for the development of future economic policies and regional stability.

Annual health expenditures by body mass index categories and the economic impact of obesity in Türkiye: A retrospective modeling study.

Obesity is considered not only a public health issue on a global scale but also a disease adversely affecting the world economies. Economic impact of overweight and obesity has not yet been investigated in Türkiye at a national level. This study aimed to investigate the impact of obesity on the healthcare costs in Türkiye and to estimate the overall national economic burden of obesity. The study was based on a cross-sectional analysis of retrospectively pooled data from 2009-2014 payer claims data (PCD) and 2014-2019 Türkiye Health Survey(THS). In the first step, obesity-related annual per person overall health expenditures in adults with obesity were calculated and calculations were also made in subgroups of payer and healthcare categories. In the second step, using the developed model, national economic disease burden of adult obesity was estimated, along with the projections for the estimated expenditures over the next 30 years. Economic values were adjusted according to US Dollar values of 2021 purchasing power parities (PPP) (PPP 1.0= 2.782 TRY). The annual healthcare costs were significantly higher in individuals with obesity than in those with normal body mass index (OR 1.243; 95% CI 1.206-1.281), and the cost increment was positively correlated with higher BMI (by 117% in class I obesity vs. 169% in class III obesity, p<0.001). In the year 2021, obesity-related direct and indirect costs in adults were estimated to be PPP 27.4 billion and 39.5 billion, respectively. The total economic burden was estimated to be PPP 66.9 billion, which is equivalent to 2.6% of gross national product. Direct medical cost of obesity corresponds to 8.4% of total health expenditure in Türkiye. Obesity is both an individual and social health problem, which emphasizes the potential role of a range of stakeholders, besides the health sector, in addressing this problem. The indirect costs comprise the key cost driver of the total national cost of obesity, which forms the rationale for population-wide policy interventions towards prevention or reduction of obesity.

Innovative Strategies for Exploring the Potential of China’s Market

As the world's second-largest economy, China plays an important role in the development of world trade. With nearly one-fifth of the world's population, China's market has huge trade potential for each country. In the process of expanding exports and investment to China, many countries face a lot of trade barriers due to China's large market span, complex structure, and different consumer preferences, so exploring China’s market has become a difficult research topic for many economists and entrepreneurs. It is also a complicated strategy for different companies choose different cities and regions when entering China’s market or expanding their market share in China. The research subject of this paper is exploring the potential of China’s market, and the research object is three dimensions (geographical, economic, and import potential) analysis of market entry approaches in China. According to the depth, breadth and market potential of China’s market, this paper makes a comprehensive comparison of different methods to enter China’s market. The research results will help a company improve the efficiency of penetrating China’s market. In the conclusion part, this paper summarizes new scientific methods and steps for international companies to explore the potential of China’s market.

Reasoning, the Role of the Private Sector and Its Impact on Transforming Economies

In the last years of the 20th century, world economies moved towards greater economic freedom and openness within the framework of changing and reducing the role of the state in economic affairs, stimulating the role of the private sector, removing restrictions on foreign trade and supporting local and international competitors. In the context of the search for sources of economic growth and policies that improve it in the long term, private sector development activities have begun to appear on the scene in recent years as a necessary component to achieve the development goals of the new millennium in emerging markets. The importance of private sector development is to support economic growth, create jobs, reduce the number of poor and help people improve their living conditions. Without the dynamic power of private initiative organized by competitive markets, people will remain poor. The development of the private sector does not mean arbitrary privatization, but rather a reorientation of the role of the state to pave the way for and support free enterprise. When the private and public sectors complement each other, the desired economic development will be achieved.

THEORETICAL ASPECTS OF THE DEVELOPMENT OF TRANSNATIONAL CORPORATIONS IN THE CONDITIONS OF GLOBAL ECONOMIC TRANSFORMATION

The article explores relevant issues regarding the role of transnational corporations (TNCs) in the processes of globalization and the integration of the world economy. The author analyzes the activities of TNCs as key players on the global economic stage, focusing on their impact on global trade flows, economic dynamics, and the development of countries. TNCs produce goods and services on an international level, make significant investments, and contribute to the spread of advanced technologies, increasing competition and integrating global markets. The article also notes that globalization is an objective circumstance in the development of the modern economy, which is accompanied by the growing interdependence of countries. The role of TNCs in creating international production and providing access to skilled labor resources, as well as their influence on scientific and technological progress, is separately examined. It is determined that TNCs often become a driving force of globalization as they stimulate the development of international trade and investment, spread advanced technologies, and improve productivity across various markets. The main classifications of TNCs are analyzed according to industry, geographic, size, and market criteria, helping to better understand their structures and strategic orientations. In addition, the main directions of TNC activities, such as production, trade, and investment, are studied, making them the primary drivers of economic globalism. The article draws attention to the interaction of TNCs with local markets and their impact on local economies, particularly through investment projects, job creation, and infrastructure development. It is emphasized that TNCs are important factors in economic growth and improving resource efficiency in various regions of the world. Special attention is paid to how the activities of TNCs contribute to the dissemination of advanced management practices and technologies, which allows for increased labor productivity and the development of human capital in host countries. The article also considers the challenges related to the activities of TNCs, such as mergers and acquisitions, which can lead to market monopolization and unequal distribution of the benefits of globalization. The influence of TNCs on international relations and the regulation of economic activity is examined, requiring national governments to develop effective strategies to attract foreign investment and minimize potential risks. Overall, the article highlights the essence of TNCs as important participants in the process of economic globalization, emphasizing their ability to adapt to global challenges while also shaping new directions for the development of the world economy.

Формування моделі міжнародних економічних відносин у контексті попередньої траєкторії розвитку національного господарства України

In the conditions of war and post-war reconstruction, Ukraine’s further integration into the world economy and trade-economic cooperation with the EU, the USA, and other developed countries is a priority task. However, the Soviet economic heritage in the form of the extensive elements and forms of economic management continues to create obstacles to building a competitive model of foreign trade cooperation. And overcoming these obstacles is impossible without rethinking and evaluating the historical experience. The research’s aim is to summarize the determinants and structural-institutional characteristics of the model of Ukrainian international economic relations shaped within the Soviet economic system. The theoretical basis of the research includes the concepts of dependent development and the «track effect», which allow assessing the influence of the Soviet legacy on the modern economic processes. The research methodology is based on the systemic approach, and problem-logical, comparative, institutional, and statistical analysis. The author defines the institutional and structural characteristics of the Ukrainian model of international economic relations shaped within the Soviet economic space and outside it. These include the republic's lack of autonomy regarding foreign trade and its subordination to the state system of centralized export-import planning; absence of closed production and technological cycles within one republic and deepening of all-Union trade and economic integration; production specialization of regions according to the central interests; the dominance of trade with other socialist countries and the so-called countries of non-capitalist orientation; a high share of barter operations and compensatory cooperation aimed at strengthening the so-called socialist integration; and an active application of the policy of customs and trade protectionism in relation to countries with a market economy. It is confirmed that the place of Ukraine's economy in the Soviet Union’s division of labor and the system of foreign economic relations was determined by the republic’s political and economic dependence on the center and its subordination to the Soviet concept of building an all-Union economic space. This largely limited Ukraine's opportunities in the formation and implementation of its own strategies of foreign economic interaction and led to an inertial pursuit in the fairway of the post-Union political entities and economic agreements after the collapse of the Soviet Union in the first decades of Ukraine's state independence.

Deformed bodies and the decolonial turn: unthinking and rethinking the colonial episteme in animal’s people

ABSTRACT Through a reading of Indra Sinha’s Animal’s People, this article draws upon disability studies to evolve a decolonial theoretical framework that would enable us to unthink and rethink the hegemonic neocolonial episteme that constitutes the human subject as able-bodied. Conceptually premised on a social model of disability that lays emphasis on the role of environmental barriers and negative attitudes in shaping the experience of disability, this article problematises the narrative of ability by first denaturalising such narratives and then goes on to underscore and advocate the need to normalise all other modes of being that an ableist archive of knowledge deems as abnormal. To achieve the above goal, Sinha, in his novel, adopts the decolonial strategy of giving voice and agency to the globally marginalised, intersectional subjects and narrates the story of the victims of the Bhopal industrial disaster of 1984. Such a strategy provides Sinha with a basis for interrogating the ableist episteme of coloniality and forging a politics of decolonisation that deconstructs the forms of identity and solidarity fostered by a neoliberal economic world order. In short, the article seeks to map the broader implications of a disability perspective on a decolonial politics of identity and vice versa.

Green Transformation and Enterprise OFDI

Clarifying the impact effect and mechanism of green transformation on enterprises' OFDI helps to promote the upgrading of national industrial structure, the high-quality development of the regional economy, and the improvement of enterprises' market economic power, and plays a positive role in China's active integration into the world economy and the promotion of the road of reform and opening up. Based on the data of listed enterprises in the Cathay Pacific CSMAR database from 2005 to 2022 and the data on green transformation of each prefecture-level city, we constructed a fixed-effects regression analysis model to explore the impact effect of green transformation on enterprises' outward foreign direct investment. It is found that (1) green transformation has a significant promotion effect on enterprises' OFDI. (2) The conclusion still holds after conducting robustness tests. (3) Green transition promotes OFDI through green market development, green technological innovation, and alleviation of financing constraints. (4) Government green subsidies and openness to the outside world positively regulate the promotion effect of green transition on OFDI. (5) Green transformation has a stronger role in promoting OFDI from eastern and state-owned enterprises. This paper provides a micro-basis for promoting OFDI by relying on the policy background of green transition, which is an important revelation for improving the quality of green economy and realizing a high level of open economy.

Кількісні аспекти взаємозв’язку між теоріями економічного зростання та економічних циклів

This paper discovers some problems that take place in the economic growth theories and in their relationship with the economic cycle models. The author shows that, if the long-term economic trend formation is considered regardless of the economic activity fluctuations, whose impact is eliminated by numerous assumptions that distort economic reality (those about perfect competition, full employment, etc.), it would lead to some difficulties in identification of real economic situation and in the accuracy of macroeconomic forecasting. Demonstrated the nature of this kind of difficulties considering schematically the process of economic trends formation. Since the economic growth theories only deal with the long-term trend, abstracting through various assumptions from short-term fluctuations in economic activities, a stereotype of independence from fluctuations in economic activity can be created. An example of this is the identification by some of economists of the problem of the economic growth slowing down for the world economy (and the US economy, in particular) in the last decades of the 20th century and attempts to explain this slowdown. These explanations are mostly aimed at justifying the reason for the change in the inclination of the long-term trend of economic growth, which is assumed straightforward for at least 25 years. However, the inclination of this 25-year trend depends significantly on the choice of the period of time for which it is calculated. The work shows that another choice of time period for calculating a long-term trend for the US economy can prove that there is no such a problem as the slowdown in economic growth over time. Calculations, presented in the paper, show, in particular, that it is impossible to ensure sustainable economic growth in the long run, if you allow deep recessions in the short term. When choosing a period of time, which determines the long-term trend of economic growth, it is necessary to take into account the configuration of economic cycles, since it is the depth of lowest and highest points of the real fluctuation curve that determines the inclination of the trend of economic development. In other words, the future long-term trend is shaped today based on short-term fluctuations in real time. And all the drawbacks of regulating the cycles that have arisen today will somehow affect the slope of the long-term trend.

Comparative cross-country studies of regional economy development in modern turbulent conditions

Relevance. In modern turbulent conditions, the global economic system is undergoing a transformation, which causes the emergence of new development centers at various levels. These trends require a search for relevant approaches to ensuring economic development. Therefore, knowledge of the main trends that determine the prospective development of the world economy in the near future is a priority task in the field of ensuring the vital functions of individual states.The purpose of the study is to conduct comparative cross-country studies of economic development to determine the main trends in this area that ensure the vital functions of individual states in modern turbulent conditions.Objectives: to conduct a comparative analysis of the economic development of individual countries of the world based on key development indicators; to identify modern trends that influence the economic development of the world economy.Methodology. In carrying out the research, modern methodological apparatus was used, starting from general methods based on traditional approaches, special tools such as methods of system and economic analysis, synthesis, grouping and comparison, methods of rank statistics, etc.Results. The modern trend occurring in the global economy is substantiated - this is a period of geopolitical fragmentation with a shift in emphasis from ensuring common macroeconomic benefits to protecting national interests, which leads to certain shifts in the global economy and the emergence of new centers of economic development.Conclusions. The article provides a comparative analysis of individual countries of the world and identifies the main trends that determine the prospective development of the world economy. The projected trends in economic development in the world for the coming years are given.

Learning mechanisms and firms’ performance in the global south: reflections from Ludhiana’s manufacturing firms

PurposeThis study examines the impact of doing, using and interacting (DUI) and science, technology and innovation (STI) learning mechanisms on firm performance, investigating their influence on financial performance through innovative performance in machine tools and textile manufacturing firms in Ludhiana, Punjab, India.Design/methodology/approachPrimary data was collected through a survey of 202 manufacturing firms across two industries, as secondary data inadequately captures learning mechanisms, particularly for DUI mode. The study employed structural equation modelling (SEM) alongside descriptive analysis to examine the impact of STI–DUI learning mechanisms on performance.FindingsThe study reveals that firms, despite minimal investment in formal R&amp;D, effectively learn through networking and imitation (DUI mechanisms). They also benefit from local industrial training institutions. Notably, innovative performance mediates the relationship between learning mechanisms (imitation, networking and industry institutions) and firms' financial performance.Originality/valueThe literature was found to be scant in terms of understanding the nature of firms learning mechanism, especially for the firms undertaken for the analysis. Although having distinguished nature of knowledge and learning required to compete for the products manufactured in machine tools and textiles industries, local conditions, domestic national institutions and regional aspects makes the industries unique case to understand the challenges amidst unique features of these industries. The study is expected to fill-in the gap in the literature of manufacturing industries belonging to developing countries in the era of increasing technological competition in the integrated world economies.

Methods and models for assessing the state of the region's human resources potential

Relevance. One of the strategic goals of the development of the regional economy is to improve the socioeconomic condition of the region, which is based on human resources. The Forecast of the long-term socio-economic development of the Russian Federation for the period up to 2030 notes that economic growth will be possible due to certain factors, among which the human resource occupies an important place. Since in the modern arena of the world economy there is a struggle for the ability to introduce innovations, the use of intellectual capital, the knowledge economy needs to take the main place in the socio-economic development of society, given that human resources is one of the fundamental factors in achieving leading positions.The purpose is to conduct a comprehensive study of methods for assessing the human resources potential of the region.Objectives: to identify the features of approaches to the interpretation of the concept of "human potential", to study models for forecasting human potentialMethodology. The following methods were used in the research process: logical and statistical analysis, qualitative and quantitative analysis, as well as an expert approach.Results. Different approaches to the definition of human resources were considered, existing methods of assessing human resources were analyzed, the authors proposed a methodology for assessing human resources and studied the process of its formation.Conclusion. The proposed methodology allows us to determine the choice of preventive measures to build human resources and meet the indicators of the Forecast of social and economic development of the region. Also, this technique can be used to generate staffing requirements and admission control figures.