Global Economy

Negative Interest Rates: Central Banks Initiated an Experiment

Negative interest rates appeared as a consequence of economic problems that countries with market economy came across after the crises of 2007-2008. The attempts of monetary authorities to stimulate economies with the help of quantitative easing didn’t bring the desired result. That’s why the central banks once again resorted to a traditional tool of their monetary policy of changing interest rates. But this time they launched an experiment, they used negative interest rates. The European Central Bank, the Swedish Riksbank, the Bank of Japan, and the National Bank of Hungary introduced negative rates in order to stimulate economic growth and  ght the threat of de ation, the Danish National Bank and the Swiss National Bank tried to deter appreciation of their currencies.

Japan in International Capital Movement

Japan, the largest net exporter of investment plays one of key roles in the in-ternational capital  ows and has a serious impact on the global trends in this important dimension of international economic relations. Vast amounts of for-eign direct investment (FDI) out ow are important for the Japa- nese national economy as well, since Japanese overseas production in some areas reaches 40% and is an important part of its industrial potential. However, FDI in ow remains low, indicating an unbalanced participation of Japan in the international capital  ows.

“General Theory” of J.M. Keynes: 80 Years After

The Keynes' “General Theory”, published 80 years ago, overthrew the neoclassical orthodoxy and created a new understanding of how market economy works. The main idea of the “General Theory” is that the amount of employment depends on the level of e ective demand. Keynes believed that much eco- nomic activity is governed by “animal spirits” because of the existence of inescapable uncertainty about the future. In Keynes’ view these “animal spirits” are the main cause for economic uctuations.

J.M. Keynes and His Economic Theory: an Ethical Perspective

The article examines the philosophical and moral foundations of the biggest economist and political philosopher of the 20th century John Maynard Keynes (1883–1946), who played an impor- tant role in rethinking a number of important provisions of the classical political economy and in creating the ideological and methodological basis of the "Keynesian revolution" and of the new eld of economic analysis-macroeconomics. The author traces the main stages in the formation of ethical views of Keynes, shows that his interest in ethics as the system of values in society was dictated by the need for the new conceptual vision of economic realities and by the search of an answer to the main ethical question: "What should we do?".

The Contribution of J.M. Keynes to the Analysis of the Psychological Motives of Economic Behavior

The article examines the contribution of John Maynard Keynes to the study of the psycho- logical motives of economic behavior. The origins of the analysis of the psychological motives in economics before Keynes are reviewed. The relative importance of rational and irrational motives of economic behavior in the Keynesian theory is analyzed. It is shown that Keynes’s analysis of the behavior of the economic agents under uncertainty and the lack of information contributed to the elaboration of the bounded rationality theory by Simon. The article also describes the input of Keynes to the formation of a new «Keynesian» model of human behavior, which implies the importance of expectations, taking into account the psychological and social factors of economic behavior.

Keynesian Theory in ”Macroeconomics“ Course for non-core faculties

The article deals with the issues related to the teaching of Keynesian theory within the scope of macroeconomics course at the faculties of non-economic professions. It highlights the relevance of Keynes' ideas, the importance of the system approach typical for Keynesian theory that is in particular re ected in the understanding of the connection between economics large-scale processes on the whole and micro-level phenomena. The authors draw special attention to the importance of selecting the sections of Keynesian theory to be included in the economics short course in order to avoid overlooking the scien- ti c signi cance of the material/data and to retain the essential achievements of the scientist.

The Market Concept of the 21st Century: a New Approach to Consumer Segmentation

World economic development in the 21st century keeps tendencies and contradictions of the previous century. Economic growth in a number of the countries and, as a result, growth of consumption adjoins to an aggravation of global problems of the present. It not only ecology and climatic changes that undoubtedly worth the attention of world community, but also the aggravation of social problems. Among the last the question of poverty takes the central place.

Statistical Analysis of Development Trends in Global Renewable Energy

The article focuses on the economic and statistical analysis of industries associated with the use of renewable energy sources in several countries. The dynamic development and implementation of technologies based on renewable energy sources (hereinafter RES) is the de ning trend of world energy development. The uneven distribution of hydrocarbon reserves, increasing demand of developing countries and environmental risks associated with the production and consumption of fossil resources has led to an increasing interest of many states to this eld. Creating low-carbon economies involves the implementation of plans to increase the proportion of clean energy through renewable energy sources, energy e ciency, reduce greenhouse gas emissions.

Ecological and Economic Indicators of Oil and Gas Companies Functioning

This article analyzes the basic ecological-economic indicators of oil and gas companies, in particular the various volumes of oil, the number of spills per year of CO2 emissions, the costs of environ- mental protection. In the process of exploration, development and exploitation of oil and gas elds, production, re n- ing, transportation and storage companies have a negative impact on the environment. Occur accidents involving oil spills, emissions and discharges of pollutants into the environment. As a result contaminates water resources, soil and atmosphere, animals dying, birds and sh, but also transformed the structure of the subsurface and changes the landscape, reduced strategic reserves of fuel and energy resources are formed objects of accumulated environmental damage.

Governmental Support Mechanism of the Renewable Energy in Germany

German Energy transition could be considered to be one of the most challenging a wide- scaled reforms, quite capital-intensive, requiring a high level of scienti c input, having an in uence on other economic sectors and economic entities. Energy reform is intended to increase the energy security level by increasing the share of renewables in its energy portfolio, environmental protection by decreasing the emission into the atmosphere and the level of energy consumption.