Labour division and efficiency in the age of intelligent machines as a condition of financial effectiveness of international trade in global markets

Alexander N. Alekseev, Svetlana V. Lobova and Aleksei V. Bogoviz

International Journal of Trade and Global Markets, 2023, vol. 18, issue 2/3, 159-169

Abstract: This paper aims to determine the priorities of labour efficiency and division in the age of intelligent machines for increasing the financial effectiveness of international trade in global markets. The originality of this research consists in studying international trade in global markets from the positions of financial effectiveness; novelty is due to consideration of the specifics of developed and developing countries during international trade in global markets. In developed countries, it is recommended to achieve growth of efficiency by 43.63%, for the purpose of raising high-technology exports by 10.29%. This could be achieved based on moderate further automatisation. In developing countries, there's a necessity for multiple (by 840.91%) growth of GDP per hour worked, for the purpose of increasing high-technology exports by 268.83%. This will require total automatisation. In countries of both categories, it is recommended to refuse from specialisation in the processing industry and to conduct digital modernisation in various spheres of economy.

Keywords: global market; economic empowerment; manufacturing innovation; industrial innovation; inclusive innovation; intelligent machines; financial effectiveness; labour efficiency; labour division. (search for similar items in EconPapers)
Date: 2023
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