On the Value and Need for Revising the Economic Policy Framework in the Union

2007 ◽  
pp. 247-255
Author(s):  
Andrew Hughes Hallett
Keyword(s):  
Economic Policy ◽  
Policy Framework

Towards New Policy Incentives for Fixed Capital Investment and Technological Upgrades in Russia

2011 ◽  
pp. 43-56
Author(s):  
A. Apokin
Keyword(s):  
Economic Policy ◽  
Capital Investment ◽  
Empirical Studies ◽  
Fixed Capital ◽  
Policy Framework ◽  
Private Companies ◽  
Russian Economy ◽  
Technological Modernization ◽  
Fixed Capital Investment ◽  
Policy Incentives

The paper approaches the problem of private fixed capital underinvestment in Russia. The author uses empirical studies of the Russian economy and cases of successful technological modernization to outline several groups of disincentives for private companies to perform fixed capital investment in Russia. To counter these constraints, a certain incentive-based economic policy framework is developed.

The Thatcherite Economic Legacy

2014 ◽  
Author(s):  
Helen Thompson
Keyword(s):  
Economic Policy ◽  
New Labour ◽  
Unintended Consequences ◽  
The State ◽  
Comparative Perspective ◽  
Policy Framework ◽  
Large Economy ◽  
Significant Change ◽  
Set Up ◽  
The Uk

This chapter considers the Thatcher governments’ economic policy in comparative perspective both in relation to their UK predecessors and successors and other large-economy states. It argues that the Thatcher governments presided over significant change to the structure of the UK economy, some of it through deliberate policy intent and some as the unintended consequences of their policy actions. It also shows that, seen as a whole, the Thatcher governments left little legacy at the level of policy framework. They were unable to reduce the fiscal size of the state and New Labour pushed policy in a different direction. On the monetary side, the Thatcher governments grappled with the same problems of inflation and sterling and as policy became ever less coherent, set up the ERM disaster, the response to which by its successors has set the parameters of UK policy since.

Nigerian economic plan will sidestep difficult choices

2017 ◽  
Keyword(s):  
Economic Policy ◽  
Niger Delta ◽  
Economic Recovery ◽  
Policy Framework ◽  
The Political ◽  
Political Will ◽  
Content Type ◽  
Economic Plan ◽  
Total Debt ◽  
Surveillance Report

Significance Recently, the IMF published its annual country surveillance report on Nigeria, which warned of serious consequences from “insufficient” policies proposed in the government’s newly launched economic policy framework, the Economic Recovery and Growth Plan (ERGP). With only two years left in the current administration, the four-year plan faces significant implementation risks. Persistent policy incoherence raises doubts about the political will to repair the country’s ailing economy. Impacts The government’s plan to increase foreign borrowing from 16% to 40% of total debt will make exchange rate liberalisation more difficult. Data discrepancies between the ERGP and the IMF’s report could further damage the credibility of the government’s economic team. A comprehensive new Niger Delta peace plan would make raised oil production targets achievable.

Economics after Neoliberalism: Introducing the EfIP Project

2020 ◽  
Vol 110 ◽  
pp. 366-371
Author(s):  
Suresh Naidu ◽  
Dani Rodrik ◽  
Gabriel Zucman
Keyword(s):  
Climate Change ◽  
Economic Policy ◽  
Policy Framework ◽  
Political Rights ◽  
Public Discussion

The tools of contemporary economics are critical to developing a policy framework for “inclusive prosperity,” which requires that we consider the whole distribution of outcomes and human prosperity broadly, including health, climate change, political rights, and dignity. To improve the quality of public discussion around inclusive prosperity, we have organized a group of economists--the Economics for Inclusive Prosperity (EfIP) network. The purpose is not simply to offer a list of policy prescriptions but to provide an overall vision for economic policy that stands as an alternative to the market fundamentalism that is often--and wrongly--identified with economics.

scholarly journals Policy response to COVID-19 pandemic and related future challenges

2021 ◽  
Vol 69 (3-4) ◽  
pp. 217-229
Author(s):  
Dušan Vujović
Keyword(s):  
Economic Policy ◽  
Capital Mobility ◽  
Policy Framework ◽  
Policy Response ◽  
Policy Paradigm ◽  
Regulated Markets ◽  
Future Challenges ◽  
Fiscal Support ◽  
Development Goals ◽  
Future Growth

The paper reviews new standard policy response to global COVID-19 pandemic led by the IMF. It identifies new innovative approaches in the design of expansionary fiscal support measures and accommodating monetary policy. Particular attention is paid to the treatment of labor markets, job-retention measures, and worker-reallocation efforts deployed at appropriate stages of continued pandemic, initial post-COVID-19 economic recovery and longer-run investment for sustainable future growth. The paper detects inherent policy limitations in the treatment of local, national and global public goods, excessive globalization, and unregulated financial markets and capital mobility, as well as weak integration between prevailing economic policy paradigm and other social sciences. It seeks a solution in expanding economic policy framework beyond neoliberalism, by harnessing democracy and human wellbeing consistent with sustainable development goals through balanced conduct of economic policy, efficient and adequately regulated markets (as needed), and responsible and transparent state actions.

scholarly journals The Swedish Macroeconomic Policy Framework

2016 ◽  
Author(s):  
Lars Calmfors
Keyword(s):  
Economic Policy ◽  
Fiscal Policy ◽  
Economic Crisis ◽  
Inflation Targeting ◽  
Macroeconomic Policy ◽  
Policy Framework ◽  
Common Denominator ◽  
Economic Governance ◽  
Budgetary Process ◽  
Institutional Reforms

This chapter is concerned with Sweden’s current macroeconomic policy framework: how it emerged after the deep economic crisis of the 1990s and how it has functioned since then. The chapter describes a series of institutional reforms in the 1990s and 2000s that were implemented following a major financial crisis in 1991 and 1992. The reforms introduced central bank independence, flexible inflation targeting, a highly structured budgetary process, and an independent fiscal policy council. Thus, a common denominator in reform was to remove economic governance from immediate political control. It also describes the results of these reforms. Finally, the chapter accounts for some important contemporary economic policy controversies.

Inconsistencies between Social-democratic Discourses and Neo-liberal Institutional Development in Chile and South Africa: a Comparative Analysis of the Post-authoritarian Periods1

2015 ◽  
Author(s):  
Rommy Morales Olivares
Keyword(s):  
South Africa ◽  
Economic Policy ◽  
Comparative Analysis ◽  
Policy Making ◽  
Institutional Development ◽  
Policy Framework ◽  
Economic Policies ◽  
Social Democratic ◽  
Socioeconomic Analysis ◽  
High Degree

This chapter examines how economic policies in post-authoritarian societies are influenced by policies formulated during previous authoritarian periods, as well as the mechanisms that lead to the continuity of an economic policy framework that allows the perpetuation of social inequality. The discussion centers on the relatively high degree of continuity in economic policy-making in Chile and South Africa, which have been examples of the neo-liberal reforms of the capitalist periphery and offer an additional complexity, and on the discursive level at which the economic and institutional development of both countries has been formulated. After a brief overview of both nations' historical contexts, the chapter offers a socioeconomic analysis of Chile's post-authoritarian period and compares it with South Africa's post-authoritarian period. It highlights five mechanisms of institutional continuity, which may serve as hypotheses to explain the neo-liberal trajectories of both countries.

Financial Sanctions: Consequencesfor Russia’s Economy and Economic Policy

2014 ◽  
pp. 54-66 ◽  
Author(s):  
N. Orlova
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Interest Rates ◽  
Banking Sector ◽  
Bank Lending ◽  
Policy Framework ◽  
International Sanctions ◽  
The Impact

The article considers the impact of international sanctions on the landscape of the Russian banking sector as well as on the economic policy framework. The author concludes that the effect of sanctions on bank lending and funding markets has been asymmetric: in particular, the increase of deposit interest rates has been considerably more moderate, resulting from substantial weakening in the retail funding base since 2013 as well as from the support provided by the Bank of Russia. The key consequence is the strengthening of state banks, which could generate risks for the quality of economic growth.

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