Regularities of transformation of economic power in the conditions of the global crisis

Storoschuk B. D.

Article

Issue:	2020 №1 (69)
Section:	Economic theory
UDK:	330.837
DOI:	https://doi.org/10.33271/ev/69.009
Article language:	Ukrainian
Pages:	9-21
Title:	Regularities of transformation of economic power in the conditions of the global crisis
Author:	Storoschuk B. D., Yuriy Fedkovych Chernivtsi National University
Annotation:	Methods. The methodological basis of the study is the macroeconomic approach to the analysis of economic processes. The theoretical concept of J. Schumpeter's use of «creative destruction» was used to evaluate the crisis phenomena occurring in the world economy and Ukraine. Along with these approaches, the following methods were used: analysis and synthesis – to identify the mechanisms of unfolding the global crisis, to highlight key measures of the anti-crisis economic policy of Ukraine; regulatory analysis – to assess the impact and prospects of government activity in the global crisis. Results. This article discusses the chronology and mechanisms of the current economic crisis, one of the factors behind which is the coronavirus pandemic. The situation on the world oil market is analyzed and its impact on the situation of the currency and stock markets is shown. The specifics of the crisis in the Ukrainian economy have been investigated, and the weaknesses of the state anticrisis policy have been singled out, one of which is the increase of economic discommunication. Particular attention was paid to the socio-economic component of such a policy and the argumentation of the need to develop measures for the socio-economic support of both business and individuals in crisis and post-crisis periods. There is set the problem of interconnection between the power and efficiency of communication processes as the basis for counteracting the spread of crisis processes. In the current situation, it is proposed to concentrate the state’s efforts on prioritizing the use of the Keynesian model of stabilization policy. The main prospects for further economic development at the world and national levels are described. The basic directions and mechanisms of realizing the economic power of the state for conducting anti-crisis policy in Ukraine are determined. The concept of «backlash» reveals the minimum amount of change required to ensure the interconnection of power and effective communication in society. Novelty. The current global crisis, triggered by the coronavirus in the oil market and then in the world economy as a whole, is represented as a natural consequence of Schumpeter's «creative destruction», which, on the one hand, demonstrates the extinction of obsolete, outdated elements of economic relations, productive forces and economic mechanisms, the proliferation of their new, more effective substitutes. And on the other hand, it opens new opportunities for the further development of the global economy. Such opportunities for the Ukrainian economy have been singled out. The mechanisms of unfolding the current global crisis due to the influence of «creative destruction» on communication processes, in particular, on the content and results of economic activity of the state have been clarified. The minimum amount of change required to overcome economic discomfort has been set. Practical value. The results of the study, especially in the area of recommendations for ensuring the interconnection of power and effective communication in society, make it possible to increase the effectiveness of the state’s anti-crisis policy.
Keywords:	Economic crisis, Anti-crisis policy, Economic power, Economic discommunication
File of the article:	EV20201_009-021.pdf
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