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Introduction
Relevance of the research topic. The development of the world good market led to the intensification of international economic communication at the turn of the 19th and 20th centuries, which gradually starts the interstate goods exchange. The rapid development of the productive forces and the growth of the financial capital power led to the world economy.
A characteristic feature of the world market is the interstate movement of goods as well as international trade. In the transition of commodity production from the world market to the stage of the world economy, there is an international movement of not only the commodity but also the factors of its production, primarily of capital and labor. Thus the category of world economy affects not only the sphere of circulation but also the sphere of production.
The world economy is a set of national economies of the countries which are connected by mobile production factors.
According to the broad interpretation of the production factors theory, any commodity can be considered as an exploited factor or production factor. However, the resulting product can be re-used as a production factor. Indeed, the produced coal is sold on the market and therefore is considered as a commodity but, after all, it is sold in order to use, for example, steel smelting. So in this case coal is a production factor. Even any end product, for example milk, is also a commodity and a production factor - it is sold in a store but it is consumed for the reproduction of labor production factor.
The basis of the world economy, as well as the world market, is the international division of labor and other production factors. The difference between the world economy and the world market lies in the fact that it manifests itself not only and not so much through the international movement of goods as through the international movement of production factors. The world economy includes all the main parameters of the world market and complements them with new essential features related to the international mobility of production factors.
Characteristic features of modern world economy are the following:
• development of international movement of production factors, primarily in the forms of capital export and import, labor and technology;
• the growth on this basis of production international forms in enterprises located in several countries, primarily within the transnational corporations framework;
• state economic policy which is providing for the support of the international movement of goods and production factors on a bilateral and multilateral basis;
• the emergence of an open economy within the framework of many states and interstate associations.
Thus, the world economy can be seen as a stage of market economy development which is higher than the world market, which includes, in addition to traditional international trade, the export of capital, international labor migration and trade in technology as well as the international enterprises emerging on this basis. The world economy is regulated by national measures (state guarantees of investments) and interstate economic policy. Within the framework of the global market, the economies of individual countries are becoming more open and oriented towards international economic cooperation.
The purpose of the research is to identify the main subjects of the world economy, to clarify their structure and history of origin, the main functions and tasks.
Research objectives:
1. To explore the essence and role of the world economy in the modern world.
2. To consider the main development stages and contradictions of the world economy.
3. To clarify the main characteristics of the international movement of production factors.
The structure of the work corresponds to the goal and tasks and consists of an introduction, two chapters, a conclusion and a list of references.
Chapter I. The essence and role of the world economy in the modern world
1.1. Development stages and contradictions of the world economy
The world economy is а set of national countries which are united by an international division of labor, trade-and-production, financial and scientific- technical connections. This is a complex system, trade in goods and services, the international movement of capital, international labor migration, international trade knowledge (technology transfer), international monetary settlement relations.
Modern national economies of many countries are interconnected not only the international division of labor (due to the traditional economic and natural prerequisites) but also from сale of supply-side structures, global total history financial and information network. The power and influence of the global transport system, banking and other transnational corporations.
Lesions (TNCs). These include the largest US, Canadian, Japanese, as well as Western European corporations. According to the UN, In the world now there are more than 80 thousand TNCs, 450 of them are the most powerful, annual turnover of each of which is more than 1 billion. dollars, while each has branches in more than 20 countries around the world [2, p. 288]. Producers of many countries take part in creating the final product in the form of intermediate goods. So year by year the production process takes the form of international.
The emergence of the world economy as a planetary system begins in the era of the Great Geographic Discoveries, which created conditions for the transition from regional and continental economic relations to the world. In the XV-XVI centuries. World trade and world the contacts began to acquire a new quality. Geographical Discoveries led to the accelerated development of international trade jewels, spices, noble metals, slaves. We can say that special place in the development of interregional and intercontinental trade played sea transport. Today 80% of cargoes in the international communication structure are transported by sea.
In the XVI century major trade routes began to shift from the Mediterranean Sea in the Indian and Atlantic oceans. One of the most important consequences of the development of maritime communications have become colonialism. There were laid the foundations of the international division of labor market in general type: the colonies were engaged in the extraction of raw materials, the production of agricultural products, metropolis - processing and production of finished products.
At the turn of the XVIII-XIX centuries as a result of the machine revolution (i.e. transition from manufactory to capitalist factory) Western European countries unreservedly dominated the world in manufacturing industrial products and in general for finished products, at that time how other participants in world economic relations acted in the role of suppliers of agrarian and raw materials.
At the turn of the XIX-XX centuries as a result of industrialization of transport transcontinental railway systems and transoceanic shipping. There is a concentration of production and capital there are monopolistic associations and, as a consequence, a sharp increase in the volume of capital export from the leading countries. This means that world economic relations covered not only the sphere of circulation but also the sphere of direct production. More investment was directed to the development of raw materials industries to developing countries and the means for developing infrastructure for investment in countries with developed economies [2, p.39].
The formation of the world economy was completed by the beginning of the 20th century. In its socio-economic structure, it was not homogeneous. Its core, consisting of states of monopoly capitalism, surrounded countries at various stages of social development: from feudal to semi-capitalistic and capitalist. It should be noted that the world system of economy was formed mainly on one-type of private capitalist property. But at the beginning of XX century this unit was violated by the formation of the USSR and the world system of socialism, based on public ownership on the means of production, land and natural resources.
The development of the world economy in the 20th century can be divided into 3 periods.
The first period - 1920-30-ies. - was characterized by crisis phenomena, the world economy fell down, in Russia a revolution happened, the First World War violated the stability of economic ties. Extremely protracted and the deep economic crisis of the overproduction in 1929-33 embraced, starting in the United States, the entire capitalist world.
Reducing the pro-production which lasted for three years and then sustained a long depression, the crisis manifested itself in the sphere of reduction in prices. However, in monopolized industries, the degree the price reduction was not too significant.
The second period - the end of the 40's - 80's. - began with a sharp increase economic power of the United States during the Second World War.
In the 50-80-ies there is a convergence of the level of development of the United States and other industrialized countries with the most powerful economy, the Group of Seven countries is singled out: the United States, Japan, Britain, Germany, France, Italy, Canada. Then, in the 70-80s, the crisis strip began but, however, did not violate foreign economic relations. Global governance institutions are being created: the United Nations (United Nations), the World Trade Organization (WTO), the International Labor Organization (ILO), the IAEA (International Atomic Energy Agency), etc.
The beginning of the third period in the development of the world economy can be two the last decades of the XX century. As a result of the collapse of the world socialist system in East European countries, there have been all kinds of social and economic structures that are similar to those of Western states, that is, transfer economic market conditions of management and their deeper integration into the world economy. International economic relations were formed into the world, the international market - into a global one. The number of subjects of the world economy includes national states, international economic integration groups, transnational companies, international economic and financial organizations, consortiums and corporations. The main subject of the world economy is the state. State role in the economy is primarily to create guaranteed markets for entrepreneurs and companies at home and abroad, to participate in the accumulation of capital in order to create knowledge-intensive industries and competitive goods, regulate
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