Title: Searching for a new global development trajectory after COVID-19

Authors: Dimos Chatzinikolaou; Charis Vlados

Addresses: Department of Economics, Democritus University of Thrace, Komotini, Greece ' Department of Economics, Democritus University of Thrace, Komotini, Greece; School of Business, University of Nicosia, Nicosia, Cyprus

Abstract: A growing number of policymakers and scholars refer to the current COVID-19 pandemic crisis as a turning point in the evolution of globalisation. Following these interpretations, a relative theoretical deficiency in analysing the contour of the newly emerging global development perspective is identified. We explore the post-war evolution of world capitalism (from World War II and beyond), focusing on the following pillars: the formation of international regimes, the generation of main types of innovation, and the successive articulation of world development and crisis phases. The current transition period of the post-COVID-19 era constitutes, in its essence, a mutational crisis of the global accumulation regime and mode of regulation, accelerating the transition towards a 'new globalisation'. The generation and application of functional, institutional, and organically perceived business innovation seems to constitute the main component for a sufficiently re-stabilised new global development trajectory.

Keywords: global development model; globalisation; new globalisation; capitalist crisis; socioeconomic transition; innovation; 2008 financial crisis; 2020 pandemic crisis; economic development.

DOI: 10.1504/IJGENVI.2022.122936

International Journal of Global Environmental Issues, 2022 Vol.21 No.1, pp.39 - 58

Received: 22 Dec 2020
Accepted: 30 Sep 2021
Published online: 17 May 2022 *