THE CONTEMPORARY TRENDS OF INTERNATIONAL ECONOMIC INEQUALITY

This article presents results of the research in contemporary trends of international economic inequality. The author argues that international economic inequality is a bidirectional and complex concept. The bidirectionality and complexity of the concept is reflected in the fact that there are countries that concurrently converge to or diverge from the most developed countries in terms of their economic development. The key finding presented here is the rise of economic inequality between countries, especially between the poorest and the richest countries. The exceptions are some countries that have made significant progress in the period from 2000 to 2014 in reducing the economic inequality in comparison to the richest countries. The most important factors that have contributed to their progress are distinctive economic institutions and development policies of those countries, as well as the effects of the financial crisis since 2007-2008, which caused a decade-long stagnation in the most developed parts of the world.