Kurushina E.V. On the Integration and Synchronization of the Economic Development

DOI: http://dx.doi.org/10.15688/jvolsu3.2015.3.15

Elena Viktorovna Kurushina
Candidate of Economic Sciences, Associate Professor,
Department of Economics, Organization and Production Management,
Tyumen State Oil and Gas University
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Volodarskogo St., 38, 625000 Tyumen, Russian Federation

Abstract. Modern trends are associated with the integration and globalization. Integration is an immanent property of all systems and is the result of the evolution. Integration has its positive and negative effects. The degree of the progress towards the global economy is measured by the integration level in terms of the market integration indicators and the economic convergence. The latent characteristic of the globalization as a process of a unified system creation is the synchronization assuming the coincidence of the economic development ascending and descending trends in time. The coincidence of the tempo-rhythms is studied on the basis of coefficients of the pair correlation of relative growth rates of GDP for 1995-2010 in 175 countries. The very high degree of synchronization of economic dynamics is revealed in the European Union countries and in the United States. The low level of the tempo-rhythm synchronization is registered on the territory of the CIS countries. Russia occupies 29th position in the world ranking. The study of the dependence of the economic instability in the world during the crisis of 2008-2009 on the level of the tempo-rhythm coincidence shows that the more synchronized economic dynamics is, the greater excess coefficient of the average dynamics is observed during the crisis period. In 2009 it manifested itself in a greater reduction of the GDP growth rates in the European countries relatively the average wave dynamics in the pre-crisis period. The obtained results are of interest from the perspective of the substantiation of the regional economic group creation and in the context of the measures on increasing the economic stability.
Key words: integration, globalization, synchronization of tempo-rhythms, excess of economic dynamics.

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On the Integration and Synchronization of the Economic Development by Kurushina E.V. is licensed under a Creative Commons Attribution 4.0 International License.

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