The impact of monopolism on the stability of economic development in the conditions of globalization

Saint-Petersburg State University 7-9, Universitetskaya nab., St. Petersburg, 199034, Russian Federation

^* Corresponding author: t.kotsofana@spbu.ru

Abstract

The article discusses the impact of the level of monopolization of markets on the sustainability of economic development and, above all, on the development of inflationary processes in terms of the reproduction approach in the global economy. The purpose of the article is to show the key role of monopolism in the genesis of inflation and its negative impact on the sustainability of economic development. The article uses a reproductive approach to the analysis of economic phenomena and processes. Using dialectical materialistic and concrete historical methods, it is shown how monopolism contributes to the development of inflation at all stages of the reproductive process. So, in Russia throughout the entire period of reforms, with the exception of individual years, the producer price index of industrial products grew faster than the consumer price index, and prices in more monopolized industries grew much faster than in less monopolized ones, which confirms the important the role of monopolies in the unwinding of the inflationary process.