The Use of Information in the World Economy: Globalization Trends
DOI:
https://doi.org/10.57125/FEL.2022.12.25.01Keywords:
Economical globaliztion, information in the circular economy, informational society, globalization trends, informational economyAbstract
The presented research reveals the need to study economic information about globalization trends. Since the influence of information is constantly increasing, it is necessary to constantly develop knowledge about information as an economic object, to monitor the relationship between information and other economic phenomena.. The study covered three main areas. The first aspect focused on analyzing economic information on a global scale, specifically forecasting the global gross domestic product for the period from 2022 to 2029, as compiled by experts. The second area of focus in the study involved analyzing the gross domestic product per capita data from the World Bank for 2021. In the third phase of the study, the correlation between global indicators of gross domestic product per capita and the consumer confidence index for the period from 2008 to 2022 was examined. Throughout all three stages of the research, statistical information was meticulously analyzed and interpreted. By leveraging this data, the study demonstrates how predictions can be made about future economic performance, exemplified by the analysis of the global gross domestic product (GDP) indicator. Additionally, statistical information on GDP per capita was used to categorize 211 countries into five groups, enabling an in-depth examination of consumer access to economic information within each group. A significant aspect of this study is the exploration of the relationship between global GDP per capita and the Consumer Confidence Index, which reflects consumers' reactions to economic information. The research found a positive correlation, with a correlation coefficient of 0.51, between these variables, indicating a meaningful link between economic performance and consumer sentiment. This study represents a modest contribution to the understanding of information as a crucial economic resource, offering insights that can guide further research on the role of information in the economy, especially within the context of globalization.
References
Ahu, C. O. (2021). Impact of Global Issues on International Trade. IGI Global.
Annushkina, O. E., & Regazzo, A. (2020). The Art of Going Global: A Practical Guide to a Firm's International Growth. Springer International Publishing. https://dokumen.pub/the-art-of-going-global-a-practical-guide-to-a-firms-international-growth-1st-ed-9783030210434-9783030210441.html
Antonelli, C. (2019). The Knowledge Growth Regime: A Schumpeterian Approach. Springer International Publishing. https://doi.org/10.1007/978-3-319-97412-0
Bayar, Y. (2019). Handbook of Research on Social and Economic Development in the European Union. IGI Global. https://doi.org/10.4018/978-1-7998-1188-6
Beghetto, R. A., & Corazza, G. E. (2019). Dynamic Perspectives on Creativity: New Directions for Theory, Research, and Practice in Education. Springer. https://doi.org/10.1007/978-3-319-91908-3
Canto, V. A. (2018). Economic Disturbances and Equilibrium in an Integrated Global Economy: Investment Insights and Policy Analysis. Academic Press. https://doi.org/10.1016/B978-0-12-813985-9.00001-3
Chan, K. (2015). Future Communication Technology and Engineering. CRC Press.
Chand, R. (2021). Essays on the Global Economy and World Financial Markets. Independently Published.
Chen, J., & Liu, W. (2019). The Belt and road strategy in international business and administration: Corporate social responsibility. In Advances in Business Strategy and Competitive Advantage (pp. 28–51). IGI Global.
Coggan, P. (2020). More: The 10,000-Year Rise of the World Economy. Profile Books.
D`Silva, M. U., & Atay, A. (2019). Intercultural Communication, Identity, and Social Movements in the Digital Age. Routledge.
Datta, R. (2020). Bouncing Back of Global Economy (2020-2025). BlueRose Publishers.
Dowlah, C. (2018). Transformations of Global Prosperity: How Foreign Investment, Multinationals, and Value Chains are Remaking Modern Economy. Springer.
Drainville, A. C. (2004). Contesting Globalization: Space and Place in the World Economy. Psychology Press.
Ducruet, C., Kato, H., & Shibasaki, R. (2020). Global Logistics Network Modelling and Policy. Elsevier Science.
Eichengreen, B. (2019). Globalizing Capital: A History of the International Monetary System. Princeton University Press.
Foster-McGregor, N., Alcorta, L., Szirmai, A., & Verspagen, B. (2021). New Perspectives on Structural Change: Causes and Consequences of Structural Change in the Global Economy. Oxford University Press. https://doi.org/10.1093/oso/9780192896807.001.0001
Frankerberger, F., de Brito, R. R., & Filho, W. L. (2019). International Business, Trade and Institutional Sustainability. Springer International Publishing.
Gorgoni, S., Amighini, A., & Smith, M. (2018). Networks of International Trade and Investment: Understanding Globalisation through the Lens of Network Analysis. Vernon Press.
Ikeda, Y., Iyetomi, H., & Mizuno, T. (2021). Big Data Analysis on Global Community Formation and Isolation: Sustainability and Flow of Commodities, Money, and Humans. Springer Nature Singapore. https://link.springer.com/book/10.1007/978-981-15-4944-1
Lok, J. C. (2019). Information Technology Economic Behaviors. Independently Published.
Moak, K. (2017). Developed Nations and the Economic Impact of Globalization. Springer.
Mr. Dell'Ariccia, G., Kadyrzhanova, D., Ms. Minoiu, C., & Mr. Ratnovski, L. (2017). Bank Lending in the Knowledge Economy. International Monetary Fund. https://doi.org/10.5089/9781475585102.001
OECD. (2022). Consumer confidence index. Organisation for Economic Co-operation and Development. https://www.oecd.org/en/data/indicators/consumer-confidence-index-cci.html
O'Neill, A. (2022, January 4). Global gross domestic product (GDP) at current prices from 1985 to 2029 (in billion U.S. dollars). STATISTA. https://www.statista.com/statistics/268750/global-gross-domestic-product-gdp/
Patti, S., & Trizzino, G. (2019). Advanced Integrated Approaches to Environmental Economics and Policy: Emerging Research and Opportunities. IGI Global. https://doi.org/10.4018/978-1-7998-2355-1
Popkova, E. G., Ragulina, Y. V., & Bogoviz, A. V. (2018). Industry 4.0: Industrial Revolution of the 21st Century. Springer.
Ramge, T., & Schwochow, J. (2018). The Global Economy as You've Never Seen It: 99 Ingenious Infographics That Put It All Together. The Experiment.
Reinsch, W. A., Goodman, M. P., Miller, S., & Caporal, J. (2020). Key Trends in the Global Economy through 2030. https://doi.org/10.2139/ssrn.3546546
Roy, T., & Riello, G. (2018). Global Economic History. Bloomsbury Publishing.
Shiraishi, T., & Sonobe, T. (2018). Emerging States and Economies: Their Origins, Drivers, and Challenges Ahead. Springer. https://doi.org/10.1007/978-981-13-1083-9
Siebert, H. (2018). The World Economy. Routledge.
Storti, L., Urso, G., & Reid, N. (2022). Economies, Institutions and Territories. Routledge. https://doi.org/10.4324/9781003191049
Tsounin, N., & Vlachvei, A. (2020). Advances in Cross-Section Data Methods in Applied Economic Research: 2019 International Conference on Applied Economics (ICOAE 2019). Springer Nature.
Vonnegut, A. (2018). Inside the Global Economy: A Practical Guide. Rowman & Littlefield.
World Bank (2022). GDP per capita (current US$). World Bank Group. https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?end=2022&start=2015
Yamarone, R. (2017). The Economic Indicator Handbook: How to Evaluate Economic Trends to Maximize Profits and Minimize Losses. John Wiley & Sons.
Yanokovyi, V., Koval, V., & Dudka, T. (2021). Statistical assessment of project economic priority in company's investment management. Revista Gestion de las Personas y Tecnologia, 15(42), 98-119. https://doi.org/10.35588/gpt.v15i42.5284
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2022 authors
This work is licensed under a Creative Commons Attribution 4.0 International License.
