Economic policy, environment and sustainable growth

2021 ◽  
Author(s):  
Μαρία Μαργώση
Keyword(s):  
Economic Policy ◽  
Sustainable Growth ◽  
Policy Environment ◽  
Animal Spirits

Αυτή η διδακτορική διατριβή είναι μια περιβαλλοντική συμβολή στη μετακεϋνσιανή μακροοικονομική θεωρία. Η συμβολή σχετίζεται με τη σημασία της περιβαλλοντικής/οικολογικής διάστασης, η οποία, δεν έχει κεντρικό ρόλο στη μετακεϋνσιανή βιβλιογραφία. Αρχικά, στόχος μας ήταν να διερευνήσουμε πώς το περιβάλλον επηρεάζει την οικονομική δραστηριότητα και πώς το περιβάλλον θα μπορούσε να εισαχθεί στην ανάλυση της ενεργού ζήτησης και της οικονομικής ανάπτυξης. Η εισαγωγή του περιβαλλοντικού παράγοντα υπόκειται στις αρχές οικολογικής και βιοφυσικής προστασίας που υποδεικνύουν τη βιωσιμότητα του μοντέλου. Η εισαγωγή του περιβαλλοντικού στοιχείου υλοποιήθηκε μέσω της φυσικής προσέγγισης του κεφαλαίου. Ωστόσο, ο ακρογωνιαίος λίθος του θεωρητικού μοντέλου, είναι η δημιουργία μιας μεταβλητής που αντιπροσωπεύει το μερίδιο του πράσινου κεφαλαίου στη συνολική οικονομία, και την οποία χρησιμοποιήσαμε για να εκφράσουμε το βαθμό της χρησιμοποίησης του παραγωγικού δυναμικού ως συνάρτηση του μεριδίου του πράσινου κεφαλαίου. Από αυτή την άποψη, αποδείχθηκε ότι η μετάβαση σε μια βιώσιμη οικονομία είναι ευνοϊκή για τη συσσώρευση κεφαλαίου. Η οικονομετρική ανάλυση που διενεργήθηκε για τις 28 χώρες της Ευρωπαϊκής Ένωσης παρέχει στοιχεία που επικυρώνουν τις κύριες υποθέσεις μας και ειδικότερα ότι οι επενδύσεις και η συσσώρευση κεφαλαίων ευνοούνται από τη μετάβαση σε μια πιο πράσινη οικονομία. Προχωρήσαμε επίσης στη διερεύνηση της σημασίας της πράσινης κατανάλωσης για τη μετακεϋνσιανή μακροοικονομία. Αφού παρουσιάσαμε τα βασικά χαρακτηριστικά της κατανάλωσης και της βιώσιμης κατανάλωσης, εισήγαμε το περιβαλλοντικό στοιχείο σε ένα μετακεϋνσιανό μοντέλο κατανάλωσης. Από αυτή την άποψη, χρησιμοποιήσαμε την έννοια των πράσινων ζωικών πνευμάτων (green animal spirits), συνδυάζοντας την έννοια του Κέινς για τα animal spirits, τη μετακεϋνσιανή θεωρία της γνώσης και τη θεωρία λήψης αποφάσεων του καταναλωτή, όπως προσεγγίζεται από την επιστήμη της ψυχολογίας. Συμπληρωματικά και λόγω του αυξανόμενου ενδιαφέροντος για τη βιώσιμη κατανάλωση, καθώς και του αυξανόμενου ενδιαφέροντος και των διαθέσιμων δεδομένων για το οικολογικό αποτύπωμα, παρουσιάζεται επίσης ένα μοντέλο οικολογικού αποτυπώματος κατανάλωσης. Η οικονομετρική ανάλυση παρείχε στοιχεία που επικυρώνουν τις κύριες θεωρητικές μας υποθέσεις και ειδικότερα σχετικά με τη σημασία των πράσινων animal spirits για την περιβαλλοντικά φιλική κατανάλωση. Τόσο τα θεωρητικά όσο και τα εμπειρικά μοντέλα θεωρούνται ότι συνεισφέρουν σημαντικά σε μια πράσινη μετακεϋνσιανή θεωρία της ενεργούς ζήτησης. Τέλος, παρουσιάζεται μια ανάλυση πολιτικής οικονομίας σχετικά με τη αποτελεσματικότητα των περιβαλλοντικών πολιτικών στον καπιταλισμό.

scholarly journals ON MOLDOVA’S INCREMENTAL CAPITAL-OUTPUT RATIO AND THE DESIGN OF ECONOMIC POLICY

2021 ◽  
pp. 6-15
Author(s):  
Apostolos PAPAPHILIPPOU
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Transition Period ◽  
Development Planning ◽  
Sustainable Growth ◽  
National Accounts ◽  
Average Value ◽  
Empirical Estimates ◽  
Wide Availability ◽  
Output Ratio

The paper analyses the notion of an economy’s Incremental Capital‐Output Ratio and proceeds to provide estimates of the Incremental Capital‐Output Ratio for the Moldovan economy utilising National Accounts data. The purpose of the study is to calculate estimates of the Incremental Capital‐Output Ratio for the Moldovan economy’s transition period to date, utilise the derived estimates to analyse aspects of economic growth in Moldova over its transition period and use the average value of the Incremental Capital‐Output Ratio over the recent period for simulation and forecasting purposes. On the whole the reported empirical estimates of the Incremental Capital‐Output Ratio for the Moldovan economy lie within the range of values reported in the economic literature. Furthermore, the evolution of the Incremental Capital‐Output Ratio in the first few years of sustainable growth in Moldova reflects the wide availability of unemployed or underemployed resources in the economy at the time thus allowing the achievement significant economic growth which was associated with low values of the Incremental Capital‐Output Ratio over the period. The paper proceeds to utilise the recent Incremental Capital‐Output Ratio estimates for the Moldovan economy over the period 2015 to 2019 inclusive to calculate an average estimate of the Incremental Capital‐Output Ratio and use this average estimate to generate estimates of the Gross Fixed Capital Formation ratios as a share of GDP required to reach a number of indicative growth paths in the medium to long term. It is notable that the growth path which is attainable given current conditions in the economy is close to the latest medium term forecasts by International Financial Institutions and the Ministry of Economy and Infrastructure. The paper concludes by discussing the design of economic policy and development planning in Moldova and suggesting areas for further work.

scholarly journals Only the Correct Policy will Return Trust

2013 ◽  
Author(s):  
Turar Koychuev ◽  
Merim Koichueva
Keyword(s):  
Economic Policy ◽  
Economic Development ◽  
Market Economy ◽  
Labor Migration ◽  
Critical Analysis ◽  
Social Problems ◽  
Sustainable Growth ◽  
Kyrgyz Republic ◽  
Socio Economic Development ◽  
The Given

The given paper analyzes and assesses the socio-economic development of the Kyrgyz Republic in period of 22 years. The objects of attention were the problems of market economy, social problems such as poverty, unemployment, internal and external labor migration, issues of active economic policy and its unconditional implementation. The results, obtained from the critical analysis, allow giving recommendations to include in the policy renovation and development components and achieve stable and sustainable growth in economy to ensure an increase in its scale and efficiency.

scholarly journals Stabilization Policies and Technological Shocks: Towards a Sustainable Economic Growth Path

2019 ◽  
Vol 11 (1) ◽  
pp. 205 ◽  
Author(s):  
Anelí Bongers ◽  
Carmen Díaz-Roldán
Keyword(s):  
Economic Growth ◽  
Economic Policy ◽  
Policy Making ◽  
Sustainable Growth ◽  
Economic Policies ◽  
Long Run ◽  
Short Run ◽  
Stabilization Policies ◽  
Development Goals ◽  
Sustainable Economic Growth

The purpose of this paper is to explore the extent to which traditional economic policies can be oriented by sound practices. It is becoming widely accepted that sustainable economic growth (and not only economic growth) is the final target of economic policies, but some economic policies are applied just looking to the short-run without taking in account the long-run perspective. Our aim is to show how a sustainable economic policy-making would be possible, making compatible the stabilization of the economy in the short-run with a sustainable economic growth in the long-run. We confront the design of economic policies with the 17 goals of the 2030 Agenda. We argue that all sustainable development goals can be attained by the design and implementation of sustainable economic policies. Finally, to illustrate this point, we will conduct a simulation exercise to show under which combinations of demand policies technological shocks would promote a path of sustainable growth. Our results will provide a reference framework for a sustainable economic policy-making.

Economic Policy and Developmental Regulation in South Korea

2017 ◽  
Vol 16 (1) ◽  
pp. 67-85 ◽  
Author(s):  
Saeed Attar ◽  
Hojjat Kazemi
Keyword(s):  
Economic Policy ◽  
Developmental Regulation ◽  
Sustainable Growth ◽  
Three Dimensions ◽  
Regulation System ◽  
Second Phase ◽  
Public And Private ◽  
Third Phase ◽  
The 1960S ◽  
Korean State

This paper analyses the importance of a developmental regulation system in the economic policy path of Korea since the 1960s. This system has three dimensions: proscriptive (i.e. determining the type of activity or the price of a commodity and creating state-owned companies), prescriptive (i.e. policy recommendations) and liberalising (i.e. setting up some regulations to protect competition and prevent monopolies). The main emphasis was proscriptive and prescriptive during the first phase (1962–1993) and moved to liberalisation during the second phase (1993–2003). The third phase (2003–present) has been focused on a balanced combination of all three dimensions. This paper shows how the Korean state has implemented a system of developmental regulation to strengthen public and private enterprises, to promote direct and indirect management of these firms, and to move towards long-term economic policy effectiveness in order to serve national industrialisation and sustainable growth.

scholarly journals Keynesian macroeconomic policy: Theoretical analysis and empirical evidence

2018 ◽  
Vol 65 (1) ◽  
pp. 1-20 ◽  
Author(s):  
Philip Arestis ◽  
Fernando Filho ◽  
Terra Bittes
Keyword(s):  
Economic Policy ◽  
Theoretical Analysis ◽  
Empirical Evidence ◽  
Institutional Environment ◽  
Macroeconomic Policy ◽  
Effective Demand ◽  
Macroeconomic Policies ◽  
Animal Spirits ◽  
Economic Instability

Investment depends on subjective factors, such as expectations, conventions, and confident animal spirits. In a context of economic instability and crises, economic policy is the main source to support entrepreneurs? expectations and investment. In this sense, macroeconomic policies are capable of affecting effective demand and building a good institutional environment, which is essential to keep the entrepreneurs? expectations confident and promote their animal spirits. Given these propositions, this contribution has two objectives. The first is to develop a Keynesian type of macroeconomic policy able to stimulate investment and effective demand, and, as a result, mitigate unemployment. The idea is to offer alternative macroeconomic policy prescriptions in relation to the New Consensus Macroeconomics one. This proposal aims to establish the role, according to the Post Keynesian view, the logic of operation of each policy, and the proper coordination among these Keynesian macroeconomic policies. The second objective is to present, briefly, relevant empirical evidence of the Post Keynesian macroeconomic policies.

The economic policy of smaller countries if viewed through the development of the Russian Federation

2020 ◽  
Vol 16 (7) ◽  
pp. 1366-1383
Author(s):  
A.M. Chernysheva
Keyword(s):  
Economic Policy ◽  
Economic Development ◽  
Russian Federation ◽  
Systems Approach ◽  
Sustainable Growth ◽  
Current Phase ◽  
Russian Economy ◽  
Macroeconomic Indicators ◽  
The Russian Federation ◽  
The Common

Subject. The article determines what smaller countries pursue in their economic policy as the uncertainty of the world economy increases. Objectives. I study the economic development of the Russian Federation from perspectives of smaller countries and the efficiency of the common and diverse economic policy of smaller countries, which are closely related with the Russian economy, such as Belarus, Armenia, Georgia, Ukraine and Estonia. Methods. I evaluated how some macroeconomic indicators of countries under study changed over time. To verify the hypothesis, I analyzed documents in public domain, including statistical data on macroeconomic developments of countries, such as the Russian Federation, Belarus, Armenia, Georgia, Ukraine and Estonia. I also applied a systems approach, comparative and statistical methods of research on key macroeconomic indicators. Results. At the current phase of multipolarity and globalization, Russia’s economic development is proved to influence both smaller countries coming along with its development vector, and States that simply have common borders with Russia. Considering the single course of their development and their geopolitical position, smaller countries ensure their sustainable growth. Conclusions and Relevance. Those countries which have chosen the single course of the development and considered their geopolitical position have performed their economic policy in the most successful way.

Food and water insecurity: re-assessing the value of rainfed agriculture

2005 ◽  
Vol 5 (1) ◽  
pp. 109-116 ◽  
Author(s):  
M. Ahmad ◽  
A. Rodríguez ◽  
A. Braslavskaya
Keyword(s):  
Economic Policy ◽  
Agricultural Production ◽  
Economic Incentives ◽  
Irrigated Agriculture ◽  
Rainfed Agriculture ◽  
Policy Environment ◽  
Wheat Varieties ◽  
Large Country ◽  
Supplemental Irrigation ◽  
Irrigation Technology

Rainfed agriculture has potential to produce needed cereals for the growing populations of West and Central Asia even though rainfed agriculture is perceived as risky. The value of rainfed agriculture to produce competitively should be re-assessed. This requires the concerted efforts of farmers, researchers, and policy makers to work on the technical factors that determine agricultural production as well as to address the economic policy environment. Syria is a small country with a diversified rainfed and irrigated agriculture. Rainfed and supplemental irrigation technology has improved Syria's food self-reliance, however, the policy environment is not conducive to the sustainable use of natural resources. Supplemental irrigation technology to produce wheat is used to illustrate the need to address both the technical issues as well as the economic incentives to make agricultural production competitive. Kazakhstan is a large country with a predominantly rainfed agriculture. Farmers could benefit from rainfall probabilities to use fertilizer and improved wheat varieties under rainfed agriculture as Syria did during the eighties and nineties. Implicit taxation of farmers needs to be removed and access to markets must be ensured for farmers in Kazakhstan to benefit from international wheat prices. While it is important to improve production technology, the economic policy environment needs to be addressed first to create incentives for farmers to produce commodities competitively in water-scarce regions.

INTRODUCTION TO THE SPECIAL ISSUE “MACROECONOMIC MODELING AND EMPIRICAL EVIDENCE IN THE WAKE OF THE CRISIS”

2020 ◽  
Vol 24 (1) ◽  
pp. 1-6
Author(s):  
Antonio Palestrini
Keyword(s):  
Economic Policy ◽  
Empirical Evidence ◽  
Sustainable Growth ◽  
Special Issue ◽  
Short Introduction ◽  
International Conference ◽  
Macroeconomic Modeling

The reader can find here a short introduction to the Macroeconomic Modeling and Empirical Evidence in the Wake of the Crisis discussion made at the “International Conference on Economics, Economic Policy and Sustainable Growth after the Crisis” (held at the Marche Polytechnic University, Ancona, Italy, September 8–10, 2016).

scholarly journals STABILIZACJA MAKROEKONOMICZNA NA BIAŁORUSI W LATACH 2005-2014

2019 ◽  
Vol 1 (7) ◽  
pp. 175-188
Author(s):  
Daria PILARCZYK
Keyword(s):  
Economic Policy ◽  
Sustainable Growth ◽  
Macroeconomic Stability

The economic policy of modern countries pays particular attention to the issue of macroeconomic stability which ensure sustainable growth and competitiveness. The article focuses on the situation in Belarusian economy from 2005 to 2014 in the context of macroeconomic stability. For research purposes, the author uses the method of the macroeconomic stability pentagon.

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