Transnational Business as a Manifestation of the Integration of the Global Economy and a Driving Force of its Development

Abstract

Vizja Press&IT www.ce.vizja.pl 311The purpose of this article is to determine the significance of transnational business in the development of the global economic system, to present perspectives on its further functioning and distribution in the global economy, and to develop recommendations for state regulation of entrepreneurship in developing countries for the purposes of attracting transnational business and stimulating the internationalization of domestic business.To achieve this purpose, the authors use statistical information combined with several methods: substantiation of mathematical expressions "by contradiction", structural analysis, classical methods of analyzing economic effectiveness, comparative analysis, problem and SWOT-analysis, systemic analysis, modeling of the current state of (and perspectives on) the development of economic systems, and formalization.The authors reach the conclusion that transnational business is a manifestation and driving force of the development of the modern global economy and that maximization of the economic growth of the global economy in the long-term requires the creation of favorable conditions for further development of transnational business.Transnational business plays an important role in the development of the global economic system. Perspectives on the further functioning and distribution of transnational business in the global economy are connected to the development of integration processes and the realization of a free trade policy. To overcome threats to the development of transnational business, the authors of this study offer recommendations for state regulation of business in developing countries for the purpose of attracting transnational business and stimulating the internationalization of domestic business, and a special model is developed. transnational business, integration of the global economy, driving force of development, developed countries, developing countries Introduction

Sustainable development of global entrepreneurship: infrastructure and perspectives

“…The issues of creation and management of global business infrastructure are discussed by the scientific community as well. Theoretical & methodological and practical peculiarities of infrastructural provision of transnational entrepreneurship are studied in the following works: (Borozan et al 2017;Catozzella and Vivarelli 2016;Espinosa et al 2004;Fernández-Serrano and Romero 2014;Klapper et al 2015;Soriano et al 2010;Namazi and Namazi 2017;Szomolányi et al 2017;Morkovina et al 2016;Litvinova et al 2016).…”