Developing Countries as New Growth Poles of Post-Crisis Global Economy

Abstract

175This article is devoted to the search for a solution to overcoming the consequences of the global financial and economic crisis and the development of a post-crisis global economy. The purpose of this article is to determine perspectives and directions for the development of new growth poles in a post-crisis global economy and to develop tools for overcoming the consequences of the crisis and facilitating the global economic system entry into a new level of economic growth. The article uses the proprietary methodology for the calculation of "underdevelopment whirlpools, " which analyzes the dynamics of economic growth of the most prominent countries in this group and their ability to overcome "underdevelopment whirlpools" and transform into new growth poles for the global economy following the global financial crisis. The use of calculation tools for "underdevelopment whirlpools" determines the prospective of developing countries' transformation into new growth poles in a post-crisis global economy. China, Japan, Brazil, Russia, and India are such poles at present, and they will strengthen their positions in the near future. For this, the research offers the following perspective and directions for the development of new growth poles in a post-crisis global economy for the increase in rates and quality (stability and sustainability) of economic growth: an emphasis on the real sector development of the economy, realization of transnational cluster initiatives, and active creation and implementation of innovations into production. As tools for overcoming the consequences of the crisis and the global economic system entering a new level of economic growth, the author developed the mechanism of post-crisis global economy development. IntroductionOver several decades, the global economy has shown stable growth and development. However, despite positive forecasts, 2008 was marked by the global financial crisis, the consequences of which -unemployment, inflation, and reduction of economic growth -influenced even the most economically developed countries.At present, the global economic system is in postcrisis conditions. To overcome the current recession, it is necessary to reconsider traditional approaches to the provision of economic growth and search for new sources of growth. In this context, it is necessary to focus on the gradual restructuring trends of the global economy. Developing Countries as New GrowthPoles of Post-Crisis Global Economy ABSTRACT O110

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