The world economy is a multilevel economic system of a global nature, which unites the national economic systems of countries in the world, based on the world division of labor using the international system of economic relations.
In other words, this
type of economy can be defined as the totality of some farms, as well as non-state structures, which are united by specific international relations.
The world economy is a category that has arisen as a result of the international division of labor. This contributed to the division of production (the creation of international specialization), as well as the unification of the same production (in the form of cooperation).
The world economy is a combination of four levels: international, macro level, mesoscale and micro level. The main one is considered to be the macro level, which considers the functioning of large complex economic systems, to which national economies can often be attributed. The microlevel studies simple homogeneous systems with relevant actors (households and firms). This level is a structural element of the macro level. The components of the mesoscale are complex systems that are included in national economies (economic regions and industries separately serve as an example). But the international level is based on the interaction of world national economies and relevant international institutions.
The development of the
world economy is closely connected with the presence of the main distinguishing feature of the modern world. In other words, such a development consists in a transition to a somewhat different state compared to previous periods. For a detailed study of this concept, it is necessary to consider the characteristic features of this transition.
Firstly, the general construction of life has undergone certain changes at the international level. So, today the world has transitioned to a multipolar state from its bipolar counterpart. The end of the Cold War and the end of the era of confrontation between the two main political systems marked the beginning of the process of establishing completely different values and priorities, and new centers of international life were established. Secondly, the global economy reflected the changes associated with the collapse of the Soviet Union. This is primarily due to the fact that the superpower ceased to exist. A number of independent states have formed in its territorial borders, striving to become full members in the world community.
The role of the global economy is assessed by a certain set of factors, the main of which are:
- dynamics and level of development of the national economy;
- the degree of its openness and involvement in the division of labor at the international level;
- development and progressiveness of foreign economic relations ;
- legal conditions for foreign investment;
- transnational corporations.