• Stanislavs Keiss The University College of Economics and Culture
  • Elga Tilta Institute of Economics of the Latvian Academy of Sciences
  • Gunta Balode Latvian Rural Advisory and Training Centre
Keywords: globalisation, cross border organisations, regulation of market processes, economic development, changes in economic thought


The purpose of the study is to analyse the topicalities and specifics of globalisation and market development processes since the Second World War until the end of the 20th century, in the context of their impact on urgent problems related to development of economic thought.

To achieve the aim, the following tasks were fulfilled:

1) to study historical events related to development of the market economy;

2) to analyse the changes, caused by historical processes, in economic theory under the conditions of globalisation;

3) to find solutions related to research problems in the area of economic thought.

The following methods were used in the study: monograph, historical study, synthesis and analysis, logical-constructive method, analysis of historical facts and statistical data.

In the study of historical events, mainly on the basis of the monograph and historical study methods, the attention was, generally, paid to different changes the world had experienced since the Second World War: such as the development of globalisation processes, having taken their beginning already during the Second World War; the more and more rapid rotations, taken up by globalisation processes; the sharp getting up of market regulation; the more and more visible role played by anew established cross border political, financial, military and economic organisations.

In the analysis of the changes in the economic theory the attention was, on the basis of synthesis and analysis, logical-constructive method and others, paid mainly to the domination of the cyclic economic development, being recognised, in the economic theory, as a self-evident norm also under conditions of the globalisation; to the beginning of domination of political relations over economic regularities in the society; to the tendency of endeavour to explain the economic relations with mathematical-statistical methods (Keišs, S., 2012: 52; Krilovs,L., 2003:151-155).

As a result of the research, the authors have tried to find ways how to substantiate the changes in economic theory and in the policies of the countries of market economy under the conditions, when there takes place a declaratively propagated support to the liberalism and to democratic values, but, in the real life, a tendency of a growing dominance of regulation of the market processes may be observed. Latvia, as a post-socialism country, is especially interested in finding of the necessary attitude in this context.


Author Biographies

Stanislavs Keiss, The University College of Economics and Culture

Dr. oec., professor, Vice-rector for Scientific Affairs, Head of the Department of Economics at the University College of Economics and Culture

Elga Tilta, Institute of Economics of the Latvian Academy of Sciences
Dr. oec.
Economics of European Union