Polycentrism of the modern world: a methodology for discovering world leaders

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Authors:

B. Kholod, Dr. Sc. (Econ.), Prof., President, orcid.org/0000-0002-2901-7936, Alfred Nobel University, Dnipro, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

A. Zadoia, Dr. Sc. (Econ.), Prof., Head of the International Economic Relations and Economic Theory Department, orcid.org/0000-0003-4620-6920, Alfred Nobel University, Dnipro, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

O. Zadoia, Cand. Sc. (Econ.), Associate Professor of the International Economic Relations and Economic Theory Department, orcid.org/0000-0002-4251-3061, Alfred Nobel University, Dnipro, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu. 2020, (3): 171-176

https://doi.org/10.33271/nvngu/2020-3/171

 

повний текст / full article

 

Abstract:

Purpose. Development of a methodology for identifying leaders of modern world development based on the ranking of applicants by key indicators that reflect the status and trends of their development.

Methodology. The development of a methodology for identifying world leaders is based on four criteria: the country’s economic potential; opportunities to influence other countries and the development of the world economy as a whole; efficiency of available potential use; the country’s innovation. The calculation of the Global Leadership Index is based on comparing the corresponding indicator for each country with the best indicator in the world and adjusting it by the weight factor. The sum of the results will be shown by the Global Leadership Index.

Finding. Based on the analysis, it is revealed that the undisputed economic leaders of the modern world are the US and the EU, which have virtually the same value of the Global Leadership Index. However, due to the monolithic character the United States position is more preferable. The role of leaders can also be claimed by China and Germany. Although China is still inferior to the US and the EU, the dynamics of its economic development and the magnitude of its impact on the world give reason to predict its approach to leaders. On the contrary, Russia and India can still only claim to be regional leaders, not world leaders.

Originality. The original methodology for calculating the Global Leadership Index, based on the country’s ranking of GDP, exports of goods and FDI in global indicators, as well as GDP per capita and Global Index, has been proposed.

Practical value. The results of the study can be used to identify trends in world leaders’ changes and to predict possible directions for exacerbation of contradictions on this basis.

References:

1. Chugayev, O. A. (2017). Global dimensions of economic strength of the country: monograph. Kyiv: Kyiv University. ISBN: 978-966-439-925-5.

2. Pylypenko, Yu., Pylypenko, H., Lytvynenko, N., Tryfonova, O., & Prushkivska, E. (2019). Institutional components of socio-economic development. Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, (3), 164-171. https://doi.org/10.29202/nvngu/2019-3/21.

3. Kholod, B., & Zadoia, A. (2015). Macroeconomic proportions in the Visegrad Countries and Ukraine: Comparative analysis. Actual Problems of Economics, (5), 86-92.

4. Central Intelligence Services (n.d.). The World Factbook: Country Comparison: GDP (Purchasing Power Parity). Retrieved from https://www.cia.gov/library/publications/resources/the-world-factbook/fields/208rank.html#AG.

5. Central Intelligence Services (n.d.). The World Factbook: Exports. Available at: https://www.cia.gov/library/publications/resources/the-world-factbook/fields/239rank.html#CH.

6. International Monetary Fund: Balance of Payment and International Investment Position (n.d.). Retrieved from https://data.imf.org/?sk=7A51304B-6426-40C0-83DD-CA473CA1FD52&sId=1542633711584.

7. Central Intelligence Services (n.d.). The World Factbook: Country Comparison: GDP per capita (PPP). Retrieved from https://www.cia.gov/library/publications/resources/the-world-factbook/fields/211rank.html#CH.

8. The Global Innovation Index 2017 (2017). Retrieved from https://www.wipo.int/edocs/pubdocs/en/wipo_pub_gii_2017.pdf.

9. Central Intelligence Services (n.d.) The World Factbook. Retrieved from https://www.cia.gov/library/publications/resources/the-world-factbook/.

10. International Monetary Fund: IMF Country Information (n.d.). Retrieved from https://www.imf.org/en/Countries.

11. The power of innovation (n.d.). Retrieved from https://www.globalinnovationindex.org/userfiles/file/GII-2007-Report.pdf.

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ISSN (print) 2071-2227,
ISSN (online) 2223-2362.
Journal was registered by Ministry of Justice of Ukraine.
Registration number КВ No.17742-6592PR dated April 27, 2011.

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