IDEAS home Printed from https://ideas.repec.org/a/ers/journl/vxxviy2023i4p431-445.html
   My bibliography  Save this article

Emerging Markets as Key Drivers of the Global Economy

Author

Listed:
  • Piotr Rubaj

Abstract

Purpose: Rapid economic and demographic development of emerging markets signifies that their importance in the world economy is growing steadily in the 21st century, as evidenced by their growing share of world GDP. These markets are undoubtedly becoming the main centres of the world economy. Countries such as China, India, and Brazil have brought cutting-edge innovations to the world rendering the global market increasingly competitive. The aim of the publication is to present the factors determining the dynamic development of emerging markets and their current and future importance in the global economy. Design/ Methodology: The methodology used in the publication is based on the analysis of literature and statistical sources, presentation of available international reports relating to the problem of the role and importance of emerging markets in the modern world. This topic is extended by statistical analyses and descriptive descriptions of presented economic problems. Findings: The role and importance of the current leaders of global economic growth is declining and the countries in question are encountering a diminishment in rankings pertaining to global significance. There is no doubt that, in the near future, the economies of emerging countries will be the main driving force of global economic growth. The article confirms this thesis by presenting relevant substantive arguments. Practical implications: The publication has a very up-to-date theoretical and practical dimension, and its conclusions can be applied both theoretically, in the sense of continuing research, as well as practically in relation to business activities in the markets of emerging countries. Originality/value: The publication analyses and forecasts the current and future importance of emerging market countries in terms of their role and importance in the global economy. It is an important voice in the debate on the changing balance of power in the world in economic, demographic and social dimensions.

Suggested Citation

  • Piotr Rubaj, 2023. "Emerging Markets as Key Drivers of the Global Economy," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 431-445.
    • Handle: RePEc:ers:journl:v:xxvi:y:2023:i:4:p:431-445
    as

    Download full text from publisher

    File URL: https://ersj.eu/journal/3294/download
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Trang Doan Do & Ha An Thi Pham & Eleftherios I. Thalassinos & Hoang Anh Le, 2022. "The Impact of Digital Transformation on Performance: Evidence from Vietnamese Commercial Banks," JRFM, MDPI, vol. 15(1), pages 1-15, January.
    2. Shakeel Ahmed & M. Ejaz Majeed & Eleftherios Thalassinos & Yannis Thalassinos, 2021. "The Impact of Bank Specific and Macro-Economic Factors on Non-Performing Loans in the Banking Sector: Evidence from an Emerging Economy," JRFM, MDPI, vol. 14(5), pages 1-14, May.
    3. Pociovalisteanu Diana-Mihaela & Thalassinos Eleftherios, 2009. "The Structural Funds and the Economic and Social Cohesion Process," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 1, pages 313-330, May.
    4. Diana-Mihaela Pociovalisteanu & Eleftherios Thalassinos & Aurelian Tirca & Walter Leal Filho, 2010. "Trends and challenges in the energy sector of Romania in the post-accession to the European Union," International Journal of Environmental Technology and Management, Inderscience Enterprises Ltd, vol. 12(1), pages 3-15.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Grigory Viktorovich Prytkov & Natalia Yurievna Tsvetus & Artem Alexandrovich Balyakin & Andrey Sergeevich Malyshev & Sergey Borisovich Taranenko, 2017. "Scientific Cooperation between Russia and the EU in the Development and Use of Large Research Infrastructure," European Research Studies Journal, European Research Studies Journal, vol. 0(3A), pages 338-353.
    2. Przemyslaw Pluskota, 2023. "Comparative Analysis of the Use of Financial Instruments – Regional Perspective," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 602-611.
    3. Constantin Zaman & Bogdan Meunier, 2017. "A Decade of EU Membership: Evolution of Competitiveness in Romania," European Research Studies Journal, European Research Studies Journal, vol. 0(2A), pages 224-236.
    4. T.V. Shatkovskaya & N.G. Romanenko & Y.A. Naumenko & E.A. Parshina, 2017. "The Problem of Individualization of Legal Entities in Terms of Innovative Development of the Russian Federation and the European Union Economy," European Research Studies Journal, European Research Studies Journal, vol. 0(1), pages 162-171.
    5. Elisa Di Febo & Eliana Angelini, 2022. "The Wavelet Analysis: The Case of Non-Performing Loans in China," Risks, MDPI, vol. 10(2), pages 1-16, February.
    6. Adijati Utaminingsih & Sony Heru Priyanto & John J.O.I. Ihalauw & Linda Kusuma, 2020. "Green Business Behaviour, Green Technologies, and Sustainability in SMEs," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 417-424.
    7. Elzbieta Ociepa-Kicinska & Malgorzata Gorzalczynska-Koczkodaj, 2023. "Municipal Bonds and their Significance in Financing Local and Regional Development," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 300-307.
    8. Slawomir Pastuszka, 2023. "Spatial Diversification of the Demographic Situation in Great Britain and Its Determinants," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 405-417.
    9. Izabela Bludnik, 2023. "Central Bank Digital Currency and the Cashless Economy:The African Experience," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 314-324.
    10. Petr Jakubik & Eyup Kadioglu, 2022. "Factors affecting bank loan quality: a panel analysis of emerging markets," International Economics and Economic Policy, Springer, vol. 19(3), pages 437-458, July.
    11. Olga Bergal, 2020. "Innovative Energy Clusters' Infrastructure," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 1), pages 361-376.
    12. Anis Chariri & Indira Januarti, 2017. "Audit Committee Characteristics and Integrated Reporting:Empirical Study of Companies Listed on the Johannesburg Stock Exchange," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 305-318.
    13. Zaneta Kielanowicz & Tomasz Wnuk-Pel, 2023. "Financial Processes Automations’ Impact on the Work of Management Accountants," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 61-77.
    14. Evgenij Petrovich Vasilyev & Irina Vladimirovna Filimonenko & Tatyana Petrovna Likhacheva & Irina Rudolfovna Rouiga, 2017. "The Rationale for Increasing the Theoretical Understanding on the Basic Concepts of Economic Theory," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 386-407.
    15. Huseyin Ozdeser, 2018. "Separation Process of Britain From the EU and its Impacts on Both Sides," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(1), pages 14-23.
    16. Marek Ciekanowski & Slawomir Żurawski & Zbigniew Ciekanowski & Yury Pauliuchuk & Jan Boguski, 2023. "The Impact of Digitalization and the COVID-19 Pandemic on Information Security Management in the Enterprise," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 750-763.
    17. Aleksandra Ostrowska, 2023. "Makroekonomiczne determinanty jakości kredytów dla sektora niefinansowego w Polsce," Bank i Kredyt, Narodowy Bank Polski, vol. 54(5), pages 541-556.
    18. Prof. Dr. Ion Criveanu & Dr. Ec. Loredana Iordache, 2015. "Establishing Human Resources Strategies and Policies Correlating with Company's Objectives," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 3-10.
    19. Nurlina & T. Muhyiddin & Kgs & M. Sobri & Yunisvita & Liliana & Muhammad Farhan, 2017. "Fertility, Urbanization and Underemployment," European Research Studies Journal, European Research Studies Journal, vol. 0(4B), pages 600-608.
    20. Aleksey Vladimirovich Gribanov & Vladimir Vladimirovich Mitrokhin & Mariya Viktorovna Vilkova, 2017. "Innovation as the Main Factor for Sustainable Development of a Commercial Bank," European Research Studies Journal, European Research Studies Journal, vol. 0(4A), pages 408-416.

    More about this item

    Keywords

    Emerging markets; global economy; global development; demography of emerging markets.;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • F63 - International Economics - - Economic Impacts of Globalization - - - Economic Development

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ers:journl:v:xxvi:y:2023:i:4:p:431-445. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Marios Agiomavritis (email available below). General contact details of provider: https://ersj.eu/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.