TRANSFORMATION AND FEATURES OF THEORIES OF WORLD ECONOMIC GLOBALIZATION AT THE BEGINNING OF THE 21st CENTURY
DOI:
https://doi.org/10.55640/Keywords:
globalization theories; world economy; neoliberalism; world-systems; digital economy; global governance; inequality; institutional economicsAbstract
Background: The intensification of cross-border flows of goods, capital, technology, and information has made economic globalization one of the defining forces of the 21st century. Yet the theoretical frameworks used to interpret this process remain deeply contested. Methods: This article employs a systematic review of principal theoretical schools — including neoliberal, institutionalist, world-systems, and heterodox approaches — supported by analysis of comparative quantitative indicators from 2000 to 2020. Results: The evidence reveals that no single paradigm adequately accounts for the simultaneous rise of global trade volumes, persistence of structural inequalities, and emergence of digital platforms as drivers of a new globalization architecture. Significant theoretical transformation has occurred since 2008. Conclusions: An integrative, multi-scalar framework is necessary to capture the complex and contested nature of contemporary globalization. Policy implications for developing economies and multilateral governance are discussed.
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