The article discusses the factors that led to the economic slump of 2007 and describes the course of the present crisis. The study is an attempt to consolidate the results of research done by various scholars and to indicate the most significant – in the author’s opinion – influences on world economy in the future. The author underscores the role of subprime loans as a direct impulse that caused the slump, presents the stages of the spreading of economic slowdown onto the economies of different continents and characterizes its implications for individual countries with particular focus on Europe, the EU states and eurozone included. In the last part she describes the situation of Poland and strives to explain why our country was only faintly affected by the crisis. Conclusions are also drawn for the future with a view to making the subsequent slumps much less acute for the economies.
In this paper I develop a stylized model of the world economy and use it to explain the long-run trends in international migration. The model very well fits the trends of the last 40 years which are mainly governed by the evolution of population disparities between industrialized and developing countries. Then I provide migration projections for the 21st century and show that future migration is also governed by socio-demographic changes. I predict a robust increase in immigration pressures from sub-Saharan Africa and MENA countries to European countries.
The article is devoted to changes that have taken place in the world economy and in the econo- mics, starting with the Great Depression of the 1930s to the contemporary Global Crisis. The author pays special attention to the phenomenon of free movement of capital across borders, which lead to weakening of the importance and role of the state.
PL
Artykuł poświęcony jest przemianom, jakie dokonały się w światowej gospodarce oraz w naukach ekonomicznych od Wielkiego Kryzysu lat 30. ub. wieku do współczesnego Kryzysu Globalnego. Szczególną uwagę autor zwraca na zjawisko swobodnego przepływu kapitału ponad granicami, co doprowadziło do osłabienia znaczenia i roli państwa.
In this paper, we wish to address the issue of financial crises. We focus on the causes and implications for the world economy and financial stability. For this reason, we attempt to identify the relative phenomena that encourage the emergence of financial crises. The amplification of the financial sector at the international level and the high degree of financial integration render the debate of financial crises solemnly significant. The world economy has become unstable and vulnerable to the emergence of unanticipated financial events. Such events are not simply limited to a large bank default but also to the inability of a multinational firm or an agent to validate their debts. Thus, we mainly emphasize the insights of Hyman Minsky into the global financial crisis, who suggested that the flaws of the current dominant financial status would eventually entail instability and probably lead to crises with contagion effects at the international level. Therefore, the aim of this paper is to indicate that the perils of financial crises for the global economy must be perceptible and considerable ex ante in order to be successfully confronted.
The Chinese case suggests that the market transition is possible without a parallel transformation of the political system. The opposite case is that of Central European economies, where systemic political and institutional changes initiated the market transition processes. Thus, the Chinese pattern of transition can be called gradual, where the main objective is to build a market economy while keeping the single-party authoritarian political system. It bears fundamental implications upon the very process of market transformation making it gradual without a clear formulation of systemic goals at the outset of the process. The aim of the paper is to present the development problems faced by the Chinese economy now which solution determines the future position of China in the world economy. The text considers, among other things, the dilemma of authoritarian political system versus democracy, economic efficiency versus social justice and the challenges following the financial crisis 2007/8+.
The article is devoted to the analysis of the transformation of labour and employment in post-industrial society. Allocation shifts in industrial production have become characteristic features of the world economy. The structure of employment has also transformed in new conditions of world development.
The world-systems perspective linked with the name of Immanuel Wallerstein is a social-scientific paradigm in existence for more than forty years with varied sources of inspiration and profiled in different directions over time, as to fundamental postulates, research topics and also social sciences,which utilise this perspective. The author poses the question as to which social scientific approaches and theories impacted upon the formation and development of this paradigm, especially with regard to its key categories: hegemony, world economies, world empires, cores and peripheries. In addition, he poses another question as to how this paradigm changed in time, how the international community of authors, who took it as their starting point, changed and finally what its reflection outwith the Anglo-Saxon world, especially in the Central European environment, was. This article demonstrates that during the 1990s this paradigm succeeded relatively well in transforming itself from a project centred on the research of the history of global capitalism into a discipline which we can somewhat less accurately term the economic sociology of globalization. The article also demonstrates that this paradigm met with a rather varied response in different parts of the world. On one hand it was very successful in the USA and Latin America, it had a certain impact in Asia and Russia, yet it was less successful in Continental Europe. In the case of the post-socialist Central and Eastern Europe, it primarily met with a positive response amongst historians in the 1980s and amongst the critically minded younger generation of sociologists and politologists after the year 2000. Yet, in general, the response to it in the Czech environment has been negligible and despite a clear wave of interest in the first decade of the 21st century, it seems that this paradigm has not permanently established itself here.
The article highlights the essential characteristics of the Islamic financial system, its main components and dimensions; identifies the latest trends in the development of Islamic finance in the transformation of the world economy. The peculiarities of the transformation of Islamic finances themselves are revealed. Changes in the distribution of participants in the financial market after Brexit and the impact of the effects of the COVID-19 pandemic on the viability of Islamic finance are outlined. The prospects of their implementation in Great Britain and "strategic centers – colonies" are proved. The preconditions for the formation of an alternative approach to solving the problems of the financial sphere in modern conditions are determined.
In his article, the author presents problems related to the functioning of the oil production sector in the world and in Poland. He also discusses the prospects of national entities of the sector. The two companies – Orlen and Lotos – have modern processing plants at their disposal thanks to which they can have products which allow for obtaining an optimal model margin. The capacity of the refinery in Płock, which is owned by Orlen, stands at over 16 million tons of oil annually. In the case of Lotos, the refinery in Gdańsk can process about 10 million tons of oil a year. The two refineries are favourably located which allows for obtaining raw material through two independent channels – Russian oil through the “Przyjaźń” pipeline, and various types of oil transported by sea by Naftoport and the system of pipelines managed by the PERN company.
The prolonged stalemate in negotiations, combined with the inability of the World Trade Organization (WTO) to perform its fundamental functions stimulates discussion about a significant crisis in the organization as the main regulator of world trade and, consequently, about the need to reform the multilateral system. This is related to a change in the position of WTO Director-General, which, after a protracted selection process, was assumed on February 15, 2021, by Nigerian Okonjo-Iweala. The first-ever woman in this position has taken over the helm of the organization at a particularly challenging time for global trade and will face challenges of immense scale, complexity and importance to the global economy. The paper aims to analyze the issues related to the position of the WTO in the world economy, taking into account, in particular, the situation pertaining to the change in the position of the WTO DG and to outline the prospects of this process in a dynamically shifting international environment. This article is a presentation of the results of an analysis intended to support the thesis that the appointment of a new, strong, confidence-inspiring and authoritative leader will significantly contribute to resolving the crisis and restoring the position of the WTO in the institutional structure of the world economy. However, it will be critical to secure strong support in this area from key members of the organization. In terms of methodology, the study is based primarily on a critical analysis of official documents of the World Trade Organization, press releases and academic articles.
After a few decades of transformation China is becoming a major contender for the number two position in the world. Is it really possible? Will China balance the power of the United States? Today the United States supremacy is so great that it seems to be undeniable. The situation was similar at the end of the twentieth century when U.S. domination was obvious and any other reality was hard to imagine. Recently though, more and more often America’s political decisions are criticised. A few decades ago, in Beijing a new idea was developed. The essence of that idea was to transform the People’s Republic of China into a superpower. Since China was very vast and densely populated, but mostly a poor and backward country, it was a very daring vision. Years of consistent and painful reforms changed the way the world is looking at China, even though some of them were not accepted by international opinion.
In this research work, the author focuses on the analysis of the liberalisation of foreign trade policy of emerging China in the world economy. What indicates the importance and innovativeness of the research is the presentation of the technical progress in P.R.China and the benefits resulting from the liberalised Chinese foreign trade policy. In accordance with the foreign trade policy theory further trade liberalisation and improved framework policies would increase trade and promote growth. It must be emphasized that openess to trade is associated with higher incomes and growth and there is a need for new approaches to trade cooperation in the light of the forces that are currently re-shaping international business. The key of trade developments within the broader socio-economic context is especially the rise of global supply chains, the general shift of trade power away from the West towards Asia. The main aim of the article is the presentation the liberalisation of foreign trade policy of emerging China in the world economy.
The objective of the article was to perform a literature review to analyze the use of megatrends as an analytical framework in various areas of economic and social discourse. Following SALSA methodology, the scope of the research covers peer reviewed articles published between 2010 and 2018. The results show that the concept of megatrends has been utilized in analyzing the impact of fundamental economic and social changes in three main areas: foresight studies of selected industries, analyses of existing and anticipated changes in management and business practices, and other socio-economic topics. The content of the most frequently used megatrends covered: technology developments, environmental changes, demographic shifts, urbanization, and changes in geopolitics. The most coherently defined megatrends that are frequently envisaged to exercise influence on the contemporary world, and are expected to continue to do so in the future, are: digitization and development of ICT and related technologies, urbanization growth, scarcity of resources and climate changes.
Za życia dwóch pokoleń Korea Południowa z jednego z najuboższych krajów stała się jedenastą potęgą gospodarczą na świecie. W opracowaniu autorzy przedstawiają ewolucję koreańskiego systemu gospodarczego, próbując wskazać najważniejsze czynniki sukcesów gospodarczych Korei Południowej w okresie od początku lat 60. XX wieku do chwili obecnej. Autorzy próbują też odpowiedzieć na pytanie, w jakim stopniu z doświadczeń koreańskich mogą skorzystać kraje borykające się wciąż z biedą i niskim poziomem rozwoju gospodarczego.
EN
Within two generations, South Korea has transformed itself from one of the poorest countries to the eleventh economic power in the world. In this article the authors present the evolution of the Korean economic system, trying to identify the most important factors of economic success of South Korea during the period from the early 1960s to the present. The authors also try to answer the question, to what extent countries still facing poverty and low level of economic development may draw on Korean experience.
The article is a review of the book of Professor Jan Rymarczyk, Finanse biznesu międzynarodowego (International Business Finance), which is found by the Author to be a fundamental work, which derives from the importance of international business in con-temporary world economy, and also the wide range and degree of insight of the raised issues.
PL
Artykuł jest recenzją książki prof. Jana Rymarczyka, Finanse biznesu międzynarodowego, którą autor określa jako dzieło fundamentalne, co wynika ze znaczenia biznesu międzyna-rodowego we współczesnej gospodarce światowej, a także z szerokiego zakresu oraz stop-nia wnikliwości podjętych zagadnień. Silną stroną pracy jest waga i aktualność podejmowa-nej problematyki i jej zakres, struktura oraz poprawny, prawidłowy i zrozumiały język. Temat został ujęty w sposób oryginalny, a jednocześnie w sposób nawiązujący do tradycji dobrych podręczników z zakresu finansów biznesu międzynarodowego.
This article focus on present and future change in international capital flows in connection with basic tendencies in world economy (financial and economic crisis, autarkic tendencies, growing role of chosen countries, and collapse others), and problems of short or long life of the most famous theories connected with international capital flows. Therefore the two research problems were addressed: 1. As the literature related to foreign investments and international capital flows still presents theories explaining the origins of their occurrence and the conditions in world’s economy since the elaboration of these theories have significantly changed, the attempt to reconsider if the theories are still valid has been made. 2. Do the changes occurring in the global economy lead to reallocation of foreign investments, or rather to their disappearance? Accordingly, the basic assumptions of the most important theories explaining the reasons for making foreign investments has been presented, and subsequently, confronted with contemporary economic realities. Then, on the basis of available statistical data the direction of changes occurring in the value of international capital flows in the countries whose economic importance and share in these flows is relatively greatest has been determined.
PL
Artykuł podejmuje problem zmian występujących w międzynarodowych przepływach kapitałowych na tle ogólnych tendencji w światowej gospodarce (kryzys finansowy i gospodarczy, tendencje autarkiczne, wzrost znaczenia jednych krajów kosztem innych) oraz problem aktualności najbardziej uznanych teorii wiążących się z międzynarodowymi przepływami kapitałowymi. W niniejszym opracowaniu skoncentrowano się na dwóch problemach badawczych: 1. Ponieważ w literaturze związanej z zagranicznymi inwestycjami i międzynarodowymi przepływami kapitałowymi cały czas prezentowane są teorie wyjaśniające genezę tych przepływów, a warunki w gospodarce światowej od czasu opracowania teorii istotnie się zmieniły, podjęta została próba odpowiedzi na pytania, czy, w jakim stopniu i dlaczego teorie te można uznać jeszcze za aktualne. 2. Czy zmiany występujące w gospodarce światowej prowadzą do realokacji inwestycji zagranicznych, czy też do stopniowego ich zaniku? W artykule przedstawiono podstawowe założenia najważniejszych teorii objaśniających motywy podejmowania zagranicznych inwestycji i skonfrontowano je ze współczesnymi realiami gospodarczymi. Następnie, w oparciu o dostępne dane statystyczne, określono kierunek zmian występujących w wartości międzynarodowych przepływów kapitałowych w krajach, których znaczenie gospodarcze i udział w tych przepływach jest relatywnie największy.
Globalny kryzys finansowy i gospodarczy przyśpieszył tempo zmian strukturalnych w gospodarce światowej, związanych z internacjonalizacją gospodarki, rewolucją w zakresie technik informacyjnych i komunikacyjnych oraz wzrostem dynamiki rozwojowej krajów o gospodarkach wschodzących. W 2014 roku Chiny stały się największym na świecie producentem towarów i usług, wyprzedzając Stany Zjednoczone, a w 2015 roku także Unię Europejską pod względem wartości wytworzonego PKB (wg parytetu siły nabywczej walut). Różnice poziomów rozwoju gospodarczego i społecznego między grupami krajów pozostają jednak bardzo duże, a dysproporcje dochodów w obrębie wielu gospodarek nadal się powiększają. Rośnie ryzyko rozwojowe, zwłaszcza w wielu krajach o gospodarkach wschodzących, których sytuacja gospodarcza pogorszyła się w połowie dekady. Przemianom i turbulencjom w gospodarce światowej towarzyszą konfl ikty i napięcia wewnętrzne i międzynarodowe, o naturze ekonomicznej, politycznej, społecznej i militarnej. Rozwój gospodarczy Polski w latach 1995-2015 cechował się względnie wysoką, chociaż malejącą dynamiką, zbliżoną do średniej w gospodarce światowej i wyższą od osiąganej w wysoko rozwiniętych krajach Unii Europejskiej i OECD, ale na dłuższą metę trwały rozwój polskiej gospodarki może być także zagrożony przez globalne czynniki ryzyka.
EN
The global fi nancial and economic crisis accelerated structural changes in the world economic system, associated with internationalisation of the global economy, the ICT revolution and with the enhancement of growth of developing and emerging market economies. In 2014, China became the world largest producer of goods and services, exceeding the US and in 2015 also the European Union. However, diff erences of social and economic levels between the country groups are still substantial, and income disparities within many countries are rising. The persisting instability of the global financial situation contributed to escalation of development risks, notably among the emerging economies. Fast transformations in the global economy have been accompanied by internal and international confl icts and disorders, of the social, economic, political, and military nature. In the period 1995-2015, Poland’s economic development was characterised by a relatively high - though weakening – dynamics, similar to the world average, higher than in developed economies of the EU and OECD. In a longer perspective, however, the development of Poland’s economy can also be threatened by some global risk factors.
This paper aims to identify the opportunities for implementation of two economics: world and “haeven”. They can complement each other if they met a man will be guided by the principle of love, and not just tolerance and in the spirit of solidarity, and not just individual gestures taking pity. The article has been divided into three parts: world economic conditions of life, the man at the crossroads of complementary economics and the need for such a quality of love as “divine economy”.
The paper reviews the interconnection of globalization and modernization processes in developing countries. The typical features of the new stage of globalization, such as changing the direction of globalization, regionalization, formation of new global development centers, as well as other problems and contradictions in the main trends of globalization and their impact on the modernization processes in developing countries are discussed. The article analyzes the main strategies of modernization developing countries such as modernization based on the coercive, political and economic pressure of the Western world, leading to copying of socio-economic and political development models and institutions and a modernization strategy based on the convergence of global development models and national socio-economic models. The authors consider the main features of the entry into the world development of the countries of Eastern Europe on the basis of preserving state and socio-cultural integrity and defining their own specificity of entering into a single European community already formed.
In Circumstances that the global economic system to make the transition to a knowledge economy through innovative business models the knowledge gained status as a key product and became a major factor in the formation of competitive advantages of the subjects of world markets. The development of the scientific sphere intensified trade innovations and innovative products, based on the results of research and development. However, not all the subjects of scientific and technical products have sufficient financialresources to conduct basic research that can ensure the emergence of a fundamentally new development. This situation caused the amplification process of knowiedge transfer
UK
В умовах переходу глобальних економічних систем до економіки знань шляхом впровадження інноваційних моделей господарювання знання отримують статус ключового товару та перетворюються в найважливіший фактор формування конкурентних переваг суб’єктів світових ринків. З розвитком наукової сфери інтенсифікувалася торгівля інноваціями та інноваційними продуктами, основою яких є НДДКР. При цьому не всі суб’єкти ринків науково-технічної продукції мають у своєму розпорядженні достатньо фінансових ресурсів для проведення фундаментальних досліджень, здатних забезпечити виникнення принципово нових розробок, що стає причиною прискорення процесу трансферу знань.
RU
В условиях перехода глобальных экономических систем к экономике знаний путем внедрения инновационных моделей хозяйствования знания приобретают статус ключевого товара и превращаются в важнейший фактор формирования конкурентных преимуществ субъектов мировых рынков. С развитием научной сферы интенсифицировалась торговля инновациями и инновационными продуктами, основой которых являются результаты НИОКР. При этом не все субъекты рынков научно-технической продукции располагают достаточными финансовыми ресурсами для проведения фундаментальных исследований, способных обеспечить появление принципиально новых разработок, что становится причиной интенсификации процесса трансфера знаний.
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.