Problems and Perspectives of Provision of Multipolarity of the Global Economy

Abstract

Purpose: The purpose of the article is to determine the problems and perspectives of multipolarity of the modern global economy. Methodology: The authors use the method of regression analysis for determining the influence of GDP of countries of the world and integration unions in absolute expression on the annual growth rate of the global GDP. The timeframe of the research covers the period from early 21st century up to now (2000–2018). After a series of combinations of independent variables (x), we selected the following ones at which statistical significance of the equation of multiple linear regression is achieved: countries of East Asia and the Pacific region, the European Union, the OECD, the USA, and Russia. Results: It is determined that specifics of the current phase of the cycle of development of the modern global economy (the phase of post-crisis restoration) causes the necessity for selecting integration unions of countries as vectors of its growth. This is due to the fact that separate economic systems do not ensure acceleration of growth of the global economy, which is shown by the example of the USA and Russia in 2000–2018. In their turn, the integration unions countries, as is shown by the example of the OECD, were the growth poles of the modern global economy. Therefore, perspectives of multipolarity of the modern global economy are connected to development of the global integration processes. Recommendations: A conceptual model of highly-effective multipolarity of the modern global economy is developed and recommended for usage.