Scholarly record

THE REVIEW OF SOME GLOBAL ECONOMIC RISKS AND THREATS IN THE MODERN WOLD ECONOMY

A.A. Khryseva, O. E. Akimova, L. V. Poluyufta

Abstract

Background. The global economic crisis of year 2008 and the period of its overcoming have proved that existing risk management systems do not meet modern challenges. Moreover, many economists and specialists predict a new wave of crisis. In this regard, in the new economic realities both to the governments of states and to the business community is the task of creating a system for identifying, assessing and managing risks. To this end, the World Economic Forum periodically presents an analysis of the most dangerous risks to the world economy, among which the greatest interest is represent undoubtedly global economic risks. Global economic risks are most feared in terms of their impact on the macroeconomics, from financial systems and infrastructure to price volatility and regulatory issues. After analyzing the reports of the World Economic Forum, were identified some risks which have not lost their significance over time. The review of these risks and an analysis of their impact on the economics of developing countries is the purpose of this article. Methods. The article is based on a comparative analysis of World Economic Forum, World Bank, FAO, IMF, UNCTAD data. Results. Emerging markets carry a much higher risk because their stocks can be quite volatile. Anything from inflationary pressures to rising interest rates to signs of a global economic cool-down could send them tumbling. Emerging markets investing carries other unique risks, such as political upheaval, regulatory changes, and currency fluctuations. Conclusions. The presented analysis of the impact of global economic risks on the economies of developing countries allows us to identify the main problems in the risk management system, and also points to the need to create management tools and mechanisms to prevent risk situations and minimize damage if they occur.

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