GLOBAL ECONOMY AND GLOBALISATION

The present discussions on globalisation often identify the process of globalisation with global economy, as it existed in political and economic history in many different ways. Global economy has existed at least since the time of imperialism, and scientific-technological and informative-communication revolution introduced the global economy into the process of globalisation. This strengthened the significance of analysis of international economic relations because their coordinative impact is the prerequisite to minimise the negative effects of globalisation, and make the most of positive effects in the interest of development of global economy. The history of the process of globalisation is therefore very closely linked with the history of analysis of international economic relations as a scientific discipline of economic science which differs trom economics of international exchange, which, as a discipline of analytical economy comprises of analysis of trade commerce, service commerce, as well as the overall international capital flow. The international economic relations are dealing with analysis of political conditions or the frame of processes in global economy, and as the process of globalisation expands, they gain more significance.