The distance-based approach to the quantification of the world convergences and imbalances - comparisons across countries and factors

The paper presents a general empirical method of distance-based multifaceted systematic identifying of the positions of countries in relation to inequalities and imbalances. In order to understand the world economic relations in their entirety, we decided to analyze twelve most populous countries and eleven macroeconomic, environmental and demographic indicators relevant to them. Our analysis covering the period 1992-2008 attempts to identify core parts of the global economic system and countries that pose a potential risk of instability.