CONSTRUCTION IN THE GLOBAL ECONOMY: ASSESSING ITS IMPACT ON ECONOMIC GROWTH Cover Image

СТРОИТЕЛСТВОТО В ГЛОБАЛНАТА ИКОНОМИКА: ОЦЕНКА НА ВЪЗДЕЙСТВИЕТО МУ ВЪРХУ ИКОНОМИЧЕСКИЯ РАСТЕЖ
CONSTRUCTION IN THE GLOBAL ECONOMY: ASSESSING ITS IMPACT ON ECONOMIC GROWTH

Author(s): Tatjana Ackovska
Subject(s): Economy, Business Economy / Management, Financial Markets
Published by: Висше училище по застраховане и финанси (ВУЗФ)
Keywords: construction; GDP; economic growt; construction growth rate

Summary/Abstract: The globalization of the world economy is characterized by the great interdependence of national economies. Countries around the world are interconnected in a multidimensional network of economic, social, and political connections. The high degree of globalization, through the trade and financial integration of economies, affects the development of individual economies, but also the development of the global economy. For construction, the globalization of the world economy has meant a trend that has opened a lot of opportunities for construction companies and at the same time many challenges. In the global economy, the construction sector is one of the most important sectors and is characterized by its features and characteristics. Construction has a multi-faceted impact on the global economy and plays a vital role in driving economic growth. Its contributions to GDP, job creation, investment, infrastructure development, and technological innovation make it a significant driver of economic activity in both developed and developing countries. However, careful planning, regulation, and sustainable practices are essential to maximize the positive impact of construction on economic growth while mitigating potential risks and negative externalities.

  • Issue Year: 3/2023
  • Issue No: 8
  • Page Range: 4-17
  • Page Count: 15
  • Language: English