New trends in the development of the world economy in view of the effects of the emerged crisis

Economic Annals-ХХI: Volume 186, Issue 11-12, Pages: 4-11

Citation information:
Nosachevskaya, E., & Afanasyeva, L. (2020). New trends in the development of the world economy in view of the effects of the emerged crisis. Economic Annals-XXI, 186(11-12), 4-11. doi:

Ekaterina Nosachevskaya
D.Sc. (Economics), Professor,
Department of Economic Security and Taxation,
Southwest State University
94, 50 Let Oktyabrya Str., Kursk, 305040, Russian Federation

Lyubov Afanasyeva
PhD (Economics), Associate Professor,
Head of the Department of Economic Security and Taxation,
Southwest State University
94, 50 Let Oktyabrya Str., Kursk, 305040, Russian Federation

Abstract. The paper deals with measures taken in different countries in order to mitigate the consequences of the economic recession. The authors of the paper have characterized their impact on the transformation of the paradigm of the development of both the world and national economies, taking into account the trends relating to the technology shift. Attention is drawn to the possibility of ensuring a fundamentally new quality of economic growth of the world economy based on digitalization, technological breakthroughs and a system approach to ensuring a balanced spatial development of territories.

The authors have substantiated national priorities in the development of socio-economic measures aimed not only at the recovery of the world and national economies from the crisis, but also at ensuring further growth. A set of recommendations aimed at enhanced development of economic processes has been determined; these recommendations are based on international experience in overcoming crises, including those caused by sharp changes in the pace of scientific and technological development as well as the results of the implementation of government measures taken to support enterprises in the face of the coronavirus pandemic.

Keywords: Crisis; State Support; Resources; Technology; Effectiveness; Implementation; Potential; Digital Economy; Technological Model

JEL Classification: O11; O12; O40

Aknowledgements and funding: This research was conducted with the support of the Ministry of Science and Education of the Russian Federation within the framework of the project under Agreement No. 0851-2020-0034.

Contribution: Each author contributed equally to the research.



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