|29th IBIMA Conference
3 - 4 May 2017
Shadow Globalization as a Threat to World Economic Growth
ViktoriaTciklauri, Alexandra Devyatilova, Roman Artemov and Svetlana Markina,
Nowadays much attention is paid to economic trends induced by globalization such as increasing evasion of taxes, growth of illegal capital export and criminal network growth. The status and coverage of the issue of shadow globalization are determined by the complexity, specificity and variability of this research area characteristics. Some world development trends appeared in recent years raise serious concerns since they jeopardize well-being and security. One of these trends is globalization of shadow economic activities. The scope and coverage of the shadow economy are so high that it reaches the proportions of the second economy, and according to the results of various research works internationally applied punitive and protective measures combating criminal economy not supported with social and economic measures are ineffective. Tightening control over economic criminal activities without preventive and remedial measures aimed at counteraction to different stimuli can turn into significant losses of financial assets in the form of massive capital export. The objective of this work is to reveal the importance of the issue of shadow globalization and studies of shadow globalization as a main menace to the sustainability of the world economic growth. General scientific research methods are applied in the paper: empirical methods, a historical-theoretical method, e.g. literature analysis, system analysis and research, a computational and constructive method, a vertical and horizontal analysis, and economics and statistics analyses (comparison, summarizing and grouping, average values) and other approaches.