THE IMPACT OF INTEGRATION ON THE TRANSFORMATION OF THE WORLD ECONOMY

Abstract

The purpose of the article is to examine the impact of integration on the transformation of the world economy by generalizing theoretical approaches, systematizing its main directions and outcomes, and identifying current trends in the development of integration. Methodology of research. The study is based on the methods of theoretical generalization, comparative analysis, systematization, abstraction, structural-logical modeling, and graphical analysis. These methods made it possible to summarize scholarly interpretations of the concept of integration, identify its main characteristics, structure its key directions and expected outcomes, and assess the dynamics of the major indicators reflecting the development of integration processes in the world economy. Findings. The study demonstrates that integration is a complex and multidimensional phenomenon that significantly influences the transformation of the world economy. The author’s interpretation of the concept of integration is proposed. The main directions of its development and key outcomes are identified. It is established that modern integration processes go far beyond trade cooperation and encompass a wide range of economic and non-economic spheres. The empirical analysis confirms the intensification of integration processes in recent years, as evidenced by the increase in the number of active regional trade agreements and the expansion of global trade. The findings confirm the role of integration as a key factor in the transformation of the world economy and international economic relations. Practical value. The practical significance of the article lies in the possibility of using its results to gain a deeper understanding of the mechanisms through which integration affects the transformation of the world economy. The proposed generalizations and analytical conclusions may be used in further research on international economic relations, in developing approaches to assessing the consequences of integration for national economies, and in substantiating economic policy decisions related to participation in international and regional integration processes.