Open AccessSOCIO-ECONOMIC DEVELOPMENT IN DEVELOPED AND DEVELOPING COUNTRIES UNDER GLOBALIZATION: ESSENTIAL DIFFERENCES
Author(s) -
Mindaugas Butkus,
Smiltė Jonušaitė
Publication year - 2020
Publication title -
mokslas - lietuvos ateitis
Language(s) - English
Resource type - Journals
eISSN - 2029-2341
pISSN - 2029-2252
DOI - 10.3846/mla.2020.12502
Subject(s) - globalization , economic globalization , phenomenon , order (exchange) , economics , investment (military) , goods and services , foreign direct investment , economic system , development economics , market economy , political science , macroeconomics , politics , physics , finance , quantum mechanics , law
Globalization is a process, which means the interrelationship of national economies across the whole world in affairs such as labor, trade, investment and the movement of services, goods and people with their knowledge and traditions. The phenomenon of globalization progresses all the time and involves total fields of the country. It can be claimed that every matter has its own advantages and disadvantages, globalization is not an exception. Because of these reasons, the study compares economic globalization, which manifests itself differently depending on the effects of globalization. Therefore, research objective – impact of globalization on strong and weak states of economic processes. Research objective – to analyze the contact of globalization on economic growth. Continuing, empirical research has chosen to investigate the interaction of some economic factors with real GDP, which is one of the main economic indicators characterizing the country’s economic development. The main idea in the future – to include as many economic factors as possible in the study in order to achieve more accurate results.