Proceedings of the 6th International Conference on Strategies, Models and Technologies of Economic Systems Management (SMTESM 2019)

Stability of Economic Development of Global Cities: Evaluation and Perspectives

Authors
Olha Pyroh, Lyudmyla Katan, Vladimir Katan
Corresponding Author
Olha Pyroh
Available Online September 2019.
DOI
https://doi.org/10.2991/smtesm-19.2019.20How to use a DOI?
Keywords
global cities, economic development, factors of development, innovation activity, labor factor, stability, integral method, competitiveness, post-industrial society
Abstract
The goal of the article is to explore modern trends and evaluate traits of stable economic development of global cities during the 2000-2017 period. The results of our study reject the hypothesis that innovation activity has a major impact on the economic growth of global cities. Job creation and unemployment reduction are two key factors behind the economic development of global cities, and innovation activity is in third place. By using the integral method we evaluated stability of economic development of 65 global cities during the 2000-2017 period and reached the following conclusions: - global cities of Alpha++, Alpha + and Alpha subgroups maintain steady growth; - global cities of Alpha-, Beta +, Beta-, Gamma, Gamma- and High Sufficiency subgroups have unstable and rapid economic growth. Warsaw, Krakow, and Wroclaw are rapidly developing global cities of Central and Eastern Europe with unstable economic development. The rapid economic growth of these cities attracts direct foreign investment, as well as creates an opportunity to reach a new higher level of economic development. However, these three cities overuse existing opportunities for economic development that results in unstable development. A lack of management of economic development can lead to “economic overheat” of these cities.
Open Access
This is an open access article distributed under the CC BY-NC license.

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Cite this article

TY  - CONF
AU  - Olha Pyroh
AU  - Lyudmyla Katan
AU  - Vladimir Katan
PY  - 2019/09
DA  - 2019/09
TI  - Stability of Economic Development of Global Cities: Evaluation and Perspectives
BT  - 6th International Conference on Strategies, Models and Technologies of Economic Systems Management (SMTESM 2019)
PB  - Atlantis Press
SP  - 97
EP  - 102
SN  - 2352-5428
UR  - https://doi.org/10.2991/smtesm-19.2019.20
DO  - https://doi.org/10.2991/smtesm-19.2019.20
ID  - Pyroh2019/09
ER  -