The global economy in technological transformation conditions: A review of modern trends

Vladimir Matyushok, Vera Krasavina, Andrey Berezin and Javier Sendra García

Economic Research-Ekonomska Istraživanja, 2021, vol. 34, issue 1, 1471-1497

Abstract: Despite the neo-industrial marathon of most developed countries, Russia, China, India, and other developing countries will determine the trend of the world economy in this century. Exogenous factors influence the development of national economic systems, which are particularly significant in the context of the intensification of globalization processes. This study identifies and analyzes the most important new trends in the world economy and investigates the effect of these key trends for the economy and society. The authors emphasize the importance of fifth-generation networks as a digital breakthrough for the connectivity of devices. The authors then investigate the effect of the development of artificial intelligence as one of the key elements of the new technological revolution. Following this, the factors and preconditions behind the emergence of new trends in the world economy are presented, and these trends’ interrelationship and impact on the future of the world economy as part of neo-industrialization are investigated. To this end, a system analysis and economic and statistical methods are used to identify new trends. The identified trends shape the strategy of the economic development of many countries, including Russia, which is highly exposed to external factors.

Date: 2021
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DOI: 10.1080/1331677X.2020.1844030

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