Publikácie vydané Ekonomickým ústavom - Monographs and Scientific Edited Books

Turbulence in the global economy in recent years has been accompanied by a number of unexpected phenomena that affected the economic cycle of individual economies - as developed and emerging and developing. These phenomena were the result of predictable and unpredictable factors. Record unemployment in many countries, deepening the gap between rich and poor strata, stagnation and recession of many economies, etc., have been and still are the main issues of the world economy. The mentioned problems were added to geopolitical tensions and armed conflicts in various parts of the world, contributing to the destabilization of many regions and have affected world trade in goods and services, and the total world output.

The development of the global economy is still characterized by uneven economic growth both in the developed and emerging and developing economies. But in the last year (2014) the development of the global economy has been in changed. Developed countries experienced solid economic growth while emerging and developing countries have experienced a slowdown. This phenomenon can not bring in this and the following year (2016) a positive impulse to the economy of both groups of countries. Another important factor that can both promote the growth of domestic consumption and production, increasing foreign demand for goods and services or to contribute to economic growth in the next period, is the decline in oil prices on the world markets, which has been observed since June 2014. However, the global economy is facing many challenges and risks. Geopolitical risks and war that still have growing trend in many regions of the world are an important threat to global economic recovery. Military conflicts negatively affecting the economy not only the region itself, which undergo, but also the entire global economy. Resulting in low investment, growing unemployment, rising wave of migration, poverty, and deterioration of overall regional and global security. Considerable risk is persistent and excessive indebtedness of many large and significant economies of peripheral countries and the EU. Greece's unsustainable debt traumatized the whole EU, especially for the euro area, although thanks to the measures taken and mechanisms by the European Central Bank may limit its consequences.

The aim of this scientific monograph, which is in the order of the ninth in a series of publications Institute of Economic Research of development and prospects of the world economy, through various analyzes of closer economic world events of national, regional and global perspective, and summarize the conclusions of the research team, developed on the basis of knowledge of issues arising out of their long-term research. The team of authors of individual chapters used as primary and secondary information available and licensed drawn from international institutions (World Bank, IMF, WTO, FAO, ILO, UNCTAD, Eurostat etc.) and other renowned scientific organizations.

This year's scientific monograph is divided into 11 chapters within four units, and research in different parts of the monograph stresses the impact of two key factors: the decline in global oil prices and geopolitical risks. In the first block we have examined the development in global output and trade and in the second block approaching the macroeconomic development of national and regional perspective and unconventional monetary policy instruments in developed countries. In the third block we are dedicated to economic events in the BRIC countries, given the growing importance of these countries in the global economy. In the last block also we analyze global and regional issues of the geopolitical and economic dimensions and their relationship to the EU integration process towards the east.