Evaluating the Stability of the Economic Development of Global Cities

The objectives of the article are: studying the socio-economic tendencies in the development of global cities, defining the characteristics of their economic development, and evaluating the stability of their economic development over the medium term (2000-2014). Having tested the hypothesis of the impact of innovation activity on the economic growth, it can be argued that the economic growth of global cities is achieved primarily through job creation and employment generation, and then, finally, due to innovation activity. It has been suggested that stability of the economic development of global cities be evaluated by means of an integral method that has helped to determine that the global cities of the Alpha ++, Alpha + and Alpha sub-groups are evolving steadily, while the global cities of sub-groups Alpha-, Beta +, Beta–, Gamma, Gamma–, and High sufficiency are characterized by unstable and rapid economic growth.