Abstract:
The existing in present economic literature approaches to understanding and describing of globalization process were described in the article: economic integration, liberalization, westernization, universalization, spatial transformation. The evidence of the approaches was estimated on the basis of theoretical and empirical research carried out in the article. The appropriateness and reasonability of the concept of spatial transformation with regard to science-technical advance were substantiated as most suitable for determining globalization processes o world economy. It was concluded that information technologies and communications play role of main factor and driver of not only economic growth, but qualitative transformation with reference to economic relations, regional integration and developing united world economic system.
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