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GLOBALIZATION AND ITS NEGATIVE IMPACT ON THE GLOBAL ECONOMY

Iryna Shopina (), Olena Oliinyk () and Valerii Finaheiev ()
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Iryna Shopina: Department of Administrative-Legal Disciplines, Lviv State University of Internal Affairs, Ukraine
Olena Oliinyk: Department of Criminal Law and Procedure, Kyiv National Economic University named after Vadym Hetman, Ukraine
Valerii Finaheiev: Department of Civil Law and Procedure, National Academy of Internal Affairs of Ukraine, Ukraine

Baltic Journal of Economic Studies, 2017, vol. 3, issue 5

Abstract: The purpose of the article - to reveal causes and to generalize consequences of the negative impact of globalization processes on the world economy. Methodology. The theoretical and methodological basis of scientific research is the work of well-known scientists in the world who studied issues of globalization development and its influence on separate spheres of economic life, official statistics of the International Monetary Fund and the World Bank on the dynamics of economic development, own research results. In order to achieve the validity and reliability of the research results, the following methods were used: inductive and deductive - for theoretical conclusions; generalization - in studying the content of works of scientists on the impact of globalization processes on the world economy; analytical - during the study of economic consequences of globalization; cause-andeffect - to obtain final conclusions. Results. In this article, causes of the negative influence of globalization processes on the world economy are disclosed. The analysis of economic development of countries in the context of the world economy and, in particular, developed economies, countries of the euro area and developing economies is conducted. Consequences of the negative impact of globalization processes on the world economy are generalized. Practical meaning. The results of this study may be useful to rating agencies, the structure of the World Bank, the Ministry of Ukraine for European and Euro-Atlantic Integration. Value/originality - the reasons and economic consequences of globalization for the world community are specified. Further research should be aimed at preventing the occurrence of crisis phenomena and processes.

Keywords: global perspective; growth slowdown; effect of impact; economic consequences of globalization; world economy (search for similar items in EconPapers)
JEL-codes: F01 F43 F6 (search for similar items in EconPapers)
Date: 2017
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