World Economy In Terms Research Articles

Understanding the World Economy in Terms of Networks: A Survey of Data-Based Network Science Approaches on Economic Networks

The purpose of this paper is to survey studies for estimating and analyzing different types of economic networks We focus on data-based approaches that allow the direct estimation of the networks from empirical data without the need of relying on theoretical assumptions. Due to the fact that there is a large variety of different economic networks, e.g., interbank, investment, director, ownership, financial, product or trade networks, we present a systematic categorization of these by the meaning of the 'nodes' within these networks. These can correspond to banks, firms, investors, products, stocks etc. Furthermore, we review practical methods for graphically exploring such networks and discuss useful databases for obtaining the empirical data for the computational construction of economic networks.

China’s belt and road initiative: A preliminary quantitative assessment

Using a global computable general equilibrium model, this paper investigates the macroeconomic impact of China’s Belt and Road Initiative (BRI). Accounting for the externalities of infrastructure development with respect to trade cost reduction and energy efficiency improvement, the analysis finds BRI would bring sizable benefits to the world economy in terms of welfare and trade, even under conservative assumptions about the size of total investment under the initiative. However, China and other BRI countries need to address several important challenges in order to implement this initiative with success and realize these benefits.

Сокращение длительности циклов Кондратьева в нелидирующих странах

The estimates of the duration of Kondratyev cycles in countries with different levels of technical and economic development are obtained. The regularity of the reduction in the duration of Kondratieff cycles are revealed, which increases more, when the corresponding Kondratyev cycle begins to form in them later. For each year of the displacement of the third cycle, the duration of the third cycle reduces by an average of 0.6 years. For each year of the displacement of the 4th cycle, the duration of the third cycle reduces by an average of 0.8 years. In countries — the leaders of the world economy in terms of labor productivity, the reduction in the duration of Kondratyev cycles does not take place. The regularity of reducing the length of Kondratyev cycles justifies the existence of the possibility of accelerated economic development.

Regional Integration and Cultures in the Age of Knowledge Creation. The Story of the Tower of Babel Revisited

The globalization of the world economy has been proceeding hand in hand with the development of the so-called brain power society. In regard to the globalization of the world economy in terms of the production and trade of traditional goods and services, everyone agrees that lower transport costs will result in greater efficiency. Concerning the development of a brain power society, can we similarly say that lower barriers to communications will increase the creation of knowledge in the long run? In other words, would a paradise of effortless communication be the ideal environment for knowledge creation? In my presentation, I will examine the role of space in the endogenous formation of culture and knowledge creation. In doing so, I will revisit the story of the Tower of Babel and ask whether the expulsion from the paradise of effortless communication was really a punishment or instead a blessing in disguise. La globalizzazione dell’economia mondiale ha accompagnato lo sviluppo della cosiddetta Brain Power Society. Per quanto riguarda la globalizzazione dei processi di produzione e del commercio di beni e servizi tradizionali e unanimemente riconosciuto che minori costi di trasporto conducano ad una maggiore efficienza. Possiamo allo stesso modo assumere che, per quanto riguarda la Brain Power Society, minori barriere comunicative aumentino la creazione di conoscenza nel lungo periodo? In altri termini, una situazione ipotetica in cui lo scambio di comunicazione non implica nessun costo sarebbe l’ambiente ideale per la creazione di conoscenza? Questo articolo prende in esame il ruolo dello spazio nella generazione endogena di cultura e conoscenza. Attraverso una rivisitazione della storia della torre di Babele il tema che si vuole discutere e se la cacciata dal paradiso caratterizzato dall’assenza di costi e barriere alla comunicazione sia realmente una punizione oppure una fortuna sotto mentite spoglie.

Value Added in Motion: Modelling World Trade Patterns at the 2035 Horizon

We address in this paper the future geography of production, migration and energy at the world level, and the consequences for the largest European countries. We take scant account of the wide range of possible evolutions of the world economy in terms of technological progress and diffusion, education, demography including migrations and finally energy price and efficiency. Taking a 2035 horizon, we examine how world trade patterns will be shaped by the changing comparative advantages, demand, and capabilities of different regions, and what will be the implications in terms of location of value added at the sector and country level. We combine a convergence model fitting three production factors (capital, labour and energy) and two factor-specific productivities, alongside a dynamic CGE model of the world economy calibrated to reproduce observed elasticity of trade to income. Each scenario involves three steps. First, we project growth at country level based on factor accumulation, demography and migration, educational attainment and efficiency gains, and discuss uncertainties related to our main drivers. Second, we impose this framework on the CGE baseline. Third, we implement trade policy scenarios (tariffs as well as non-tariff measures in goods and services), in order to get factor allocation across sectors from the model as well as demand and trade patterns.

Analysis of Venture Capital Funding in India

One of the most important developments in entrepreneurship has been growth of Venture Capital over the past decade. It has had a profound impact on the world economy in terms of job creation, innovative products and services, competitive vibrancy and enhancement of entrepreneurial spirit. It has played a catalytic role in entrepreneurship by disseminating and creating fundamental values that trigger and sustain economic growth and renewal. Specifically, venture capitalists help their investee companies in providing a network, recruiting key management and building a team, developing financial systems, advising on company law and other legal matters, helping co-investment and arranging working capital facilities from bankers, providing marketing links and contacts, sharing the business perspective, providing support and confidence during bad times, helping in long term strategic thinking and planning, helping to create an entrepreneurial climate and devising incentive systems to promote long-term team work. In India, the level of growth has not been found so promising and consistent due to lack of financing the innovative ideas. To get the full advantage of economic reforms and to make the Indian economy more competitive, it is high time that the catalytic role of Venture Capital must be clearly understood. Present study has been undertaken to see in which industry, region, area or stage venture capitalist provide their finance.

Asean and Trade Integration

This paper reviews the progress in trade-related areas of ASEAN Economic Community to be established by 2015. It provides empirical evidence and qualitative analysis on how the process of trade integration worked and what could have been done for it to have worked better. Where appropriate it elaborates on forces or institutions driving the process of integration. The paper uses descriptive statistics and some off-the-shelf indicators to track progress in trade integration which is the main pillar of building ASEAN Economic Community. Second part of the paper examines the progress in building effective integration with the other trading partners. Three different but inter-related issues are analyzed: 1) ASEAN in world economy in terms of relative size, discrimination of other partners in trade, and treatment that ASEAN obtains in importing markets of developed countries compared to average of all developing countries; 2) the WTO membership and negotiation positioning of individual ASEAN members, and 3) the role of bilateral and plurilateral preferential trade agreements of ASEAN member countries and of the ASEAN as a bloc.

The Country-Level Income Structure of the World-Economy

World-systems sociologists have long recognized a three-tier structure in the world-economy, which comprises peripheral, semi-peripheral, and core groups of countries. This paper introduces a new database tool for analyzing this structure of the world-economy in terms of national income, the Structure of the World-Economy (SWE) analytical tool. It can be used to chart the structure of the world-economy in terms of income per capita for any year from 1960-2000 based on parameters selected by the user. Results confirm the existence of a three-tier structure of the world-economy that is relatively stable over the period for which data are available. A continuous set of benchmarks for the boundary points separating zones of the world-economy are reported for the period 1975–2002, along with a brief analysis of national mobility across those boundaries. Only seventeen countries (out of 103) made lasting transitions between zones of the world-economy over the study period, mostly due to changes in the prices of natural resources. The results of this study suggest that development policy formation should focus more on the attainable goal of transitioning countries from the periphery to the semiperiphery of the world-economy, and less on achieving an absolute standard of “developed” or core country status.