Received: 2018-02-20  |  Accepted: 2018-05-05

Title

Global security and economic asymmetry: a comparison of developed and developing countries


Abstract

This paper tackles the asymmetry of economic interests and geopolitics between developed and developing countries. Currently, the geopolitics presupposes that the majority of novel technologies are devised and designed in developed countries with their subsequent transfer to the developing countries. Moreover, in the context of the global crisis, the issue of de-dollarization is relevant from the political and economic points of view. Our specific focus is on the small oil countries and the issue how to get off the oil needle in the painless way. Furthermore, the paper analyzes the rise of cryptocurrency that is envisaged as the substitute of the U.S. dollar which has been the world most dominating currency for the last several decades. This paper considers the global asymmetry which has the greatest impact on countries with economies dependent on energy exports. In the light of the diminishing returns from the sale of oil, we examine the ways for escaping this asymmetry. The authors consider the geopolitical asymmetry stemming from the dominance of the U.S. dollar, analyze the political situation and offer the pathways for the development of those economies where oil become an obstacle for economic development. The paper examines the ways of solving the above-mentioned problem by other states in detail and conduct the comparative analysis of the above issues in relation to the economy of Azerbaijan. From this case study we conduct a comparative analysis of the developed and developing countries taking into account the economic asymmetry and global economic and financial security.


Keywords

geostrategy, instability, anti-dollarization, business development, stock markets, gold standards, cryptocurrency


JEL classifications

F30 , F52 , P10 , P20


URI

http://jssidoi.org/jssi/papers/papers/view/303


DOI

10.9770/jssi.2018.7.4(8)

Authors

Guliyeva, Aida
Azerbaijan State University of Economics
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Britchenko, Igor
State Higher Vocational School Memorial of Prof. Stanislaw Tarnowski in Tarnobrzeg
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Rzayeva, Ulviyya
Azerbaijan State University of Economics
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Title

Journal of Security and Sustainability Issues


Issue date

2018


ISSN

ISSN 2029-7017 (print)
ISSN 2029-7025 (online)

Cited

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