ABOUT A BALANCED HOLISTIC AND ACTUALLY A POSSIBLE MODEL OF MACROECONOMIC SYSTEM

2016 ◽  
Vol 9 (1) ◽  
pp. 62-68
Author(s):  
Владимиров ◽  
S. Vladimirov
Keyword(s):  
Economic Growth ◽  
Economic System ◽  
Open Economy ◽  
Carnot Cycle ◽  
Social Efficiency ◽  
Material Wealth ◽  
Budget Analysis ◽  
Modern Economic ◽  
S Model ◽  
Specific Amount

The author´s model, which is close to the interpretation of econophysical" direction leniyu in modern economic theory (the Carnot cycle in the thermodynamic) resulting economic system specific amount of public expenditure and investments always result in the ideal case ("zero-loss" maximum mally possible social efficiency of public spending and investments) to the maximum possible rate of economic growth. The result of the model developed by the author of a balanced open economy is to overcome the barrier of the alleged lack of economic system of quantitative constants, so it is very different from the physical systems (with full awareness of the limitations of its author: irreducibility public the progress of human development to increase income or augmenting material wealth, economic growth). Holistic macroeconomic model proposed above, following the introduction of her in the preparation, negotiation, approval and implementation of the budget analysis relevant government authorities allow, in our opinion "sighted", and not blindly justify the scientific and strictly control the effectiveness of direction tions of macroeconomic development, their deviation from ideal.

Drawing the Technologies of Improving the Methods of Crisis Management Based on a Complex Approach

2019 ◽  
pp. 222-240
Author(s):  
Nelu Mocanu
Keyword(s):  
Economic Growth ◽  
Economic System ◽  
Crisis Management ◽  
Economic Model ◽  
Organizational Analysis ◽  
Complex Approach ◽  
The Social ◽  
Economic Politics ◽  
Modern Economic ◽  
The Stability

The purpose of any modern economic politics is to ensure the stability and economic growth. In order to achieve this goal, each economic agent models (builds) an individual economic strategy. The building of the actual economic model is influenced by many factors – political, geographical, national, and cultural. Today, by the notion of crisis, we understand an aggravation of the discrepancies of the social-economic system that threaten its stability. Specialist that deal with problems of crisis management claim that measures must be taken when the financial results of the enterprise become unsatisfactory, when symptoms of an unfavorable situation of the activity of enterprise appear. This chapter presents the economic-organizational analysis of the strategies applied in the anti-crisis management.

The Oxford Handbook of the Italian Economy Since Unification

2013 ◽  
Keyword(s):  
Economic Growth ◽  
Open Economy ◽  
Economic History ◽  
Real Exchange Rates ◽  
Late Nineteenth Century ◽  
National Accounts ◽  
Italian Economy ◽  
Modern Economic Growth ◽  
Modern Economic ◽  
Western Experience

A new economic history of Italy since the country's political unification in 1861. New data and interpretations by leading international economic historians and brilliant young Italian economists to reconsider the relatively little-known story of a latecomer to "modern economic growth", who rapidly caught up with the advanced Western countries. Fresh research includes: a new set of national accounts covering the entire period 1861-2011, standard of living indicators (including income distribution from the late nineteenth century onward), productivity levels and growth rates, human and social capital, migrations, real exchange rates and changes in comparative advantages, firm size, patents, the evolution of public debt, measures and explanations of the regional divide, the allocation of credit, and data on the changing efficiency of the administrative system. The book takes a strong comparative stance to illuminate the traits of Italy's growth pattern that are common to the Western experience of "modern economic growth" and those that are idiosyncratic to the Peninsula, as well as to see how and when this medium-sized open economy successfully rode the expansionary waves of the world economy. In this vein, the book explains the rapid catch-up growth during both the pre-1914 first globalization and the second post-war "golden age" of Western capitalism, as well as the less satisfactory performances in the first decades after unification and during the recent "second globalization".

scholarly journals Economic Growth, Income Distribution and Building a Modern Economic System

2020 ◽  
Vol 218 ◽  
pp. 02008
Author(s):  
Tingjun Zha
Keyword(s):  
Economic Growth ◽  
Income Distribution ◽  
Economic System ◽  
Coordination Mechanism ◽  
Policy Recommendations ◽  
Urban Rural ◽  
Modern Economic ◽  
Distribution Structure ◽  
The Difference ◽  
Internal Relationship

This paper first sorts out the existing research results between economic growth and income distribution; further, through macro data from the export-oriented mechanism of labor-intensive products, the capital owner’s interest-biased distribution mechanism, urban-rural dual structure and department Interrevenue distribution and other aspects explore the difference in income distribution between factors and its relationship with economic growth. Secondly, this paper analyzes the internal relationship between the income distribution structure and the construction of modern economic system from efficiency mechanism, fair mechanism and coordination mechanism. Finally, combined with the actual situation of China’s economic growth, give the policy recommendations of optimizing the income distribution structure are proposed to promote the construction of modern economic system.

scholarly journals MODEL PERTUMBUHAN EKONOMI DUA DAERAH DAN SIMULASI EFEK PERUBAHAN PARAMETERNY

2008 ◽  
Vol 7 (1) ◽  
pp. 47
Author(s):  
N. T. TAUFIK ◽  
E. H. NUGRAHANI ◽  
R. BUDIARTI
Keyword(s):  
Economic Growth ◽  
Economic System ◽  
Growth Model ◽  
Regional Growth ◽  
Learning By Doing ◽  
Trade Patterns ◽  
Knowledge Accumulation ◽  
Economic Growth Model ◽  
Modern Economic Growth ◽  
Modern Economic

The traditional growth theory usually considers only the accumulation of conventional inputs of labor and capital as the primary variables responsible for the growth. It has been proven to be insufficient for explaining the complexity of modern economic growth. This thesis aims to study a two-region economic growth model proposed by Zhang (2005). This model explains the dynamics of economic system based on capital and knowledge accumulation. It also considers relationships between regional growth and regional trade patterns. Each region's production is similar to the standard one-sector growth model. Knowledge accumulation is assumed to be accomplished through learning by doing. Unfortunately, in obtaining the equilibrium solution of the model Zhang made some mistakes. Therefore, this thesis offers some corrections. The analysis done in this thesis includes obtaining equilibrium of the economic system and its feasibility conditions. Some results of simulation study show that knowledge improvement is more effective to increase equilibrium value of economic growth compared to improvement in investment or amenity level.

scholarly journals THE ECONOMIC, SOCIAL, AND SPIRITUAL EFFICIENCY OF THE ECONOMIC SYSTEM: APPROACHES TO ASSESSMENT

2018 ◽  
Vol 4 (4) ◽  
pp. 380-386
Author(s):  
Dmitrii Yadranskii ◽  
Viktor Chigrin ◽  
Elena Chumak
Keyword(s):  
Economic System ◽  
Economic Efficiency ◽  
Value Added ◽  
Theoretical Modelling ◽  
Final Conclusion ◽  
Total Efficiency ◽  
System State ◽  
Social Efficiency ◽  
Linear Effect ◽  
Modern Economic

The article considers the categories of social, economic, and spiritual efficiency. The emphasis is made on the crisis of modern economic processes. The subject of the article is the contradictions arising in the process of increasing economic efficiency. Existing methodological approaches to the study of these categories are critically reviewed. The main goal of the article is to create the author’s concept of overcoming the contradictions between the growth of economic and social efficiency in the conditions of modern economic organizations. The concept is based on the conflict paradigm. The methodological basis of the study consists of the concepts of foreign and domestic researchers dealing with the effectiveness of social reproduction. The main theoretical concept is neo-Marxism. The purpose of the article is to determine the methodology for reconciling contradictions arising in the process of managing the economic efficiency of an economic system. The thesis of P. Drucker on the inevitability of aggravating the economic crisis is considered as the cause of the conflict. In combination with the totality of such general scientific and special methods of cognition as dialectic, systemic, descriptive, theoretical modelling, the article reveals the main contradictions in the assessment of the growth of the economic and social efficiency of the economic system. The main conclusion of the article is the need to abandon the use of singlefactor methods for evaluating the effectiveness of the functioning of economic systems. The main problem is the fact that the growth of economic efficiency most often has a non-linear effect on the change in social and spiritual efficiency. Therefore, it is necessary to use at the same time changes in all three specified directions of efficiency, so one can determine the general vector of changes in the economic system. As a final conclusion, it was proposed to apply the efficiency rule proposed by Pareto to this assessment, according to which the system state is optimal when the value of each particular criterion describing the system state cannot be changed without deteriorating other system indicators. The article presents a table, in which the contradictory changes that are the result of a number of managerial influences are demonstrated for economic and social efficiency. A logical formula for determining the effectiveness of changes in the efficiency of the economic system, based on the indices of changes in individual quantitative indicators, is proposed. Criteria are defined that make it possible to quantify each of the blocks determining efficiency: economic, social, and spiritual. An assessment of possible indicators at the macroeconomic and microeconomic level is given. The article formulates a model for establishing the balance (optimum) of individual indicators of the total efficiency of the economic system. This model is based on the balance of economic interests of employers (owners) and social interests of workers, coordinated through culture, which is defined as one of the priorities of spirituality. A formula is proposed that enables the analytical establishment of the optimal (balance) state of the efficiency of the economic system. On the basis of the conducted research, it becomes possible to talk about a fair (reasonable) distribution of value added. In fact, at the theoretical level, an economic model for managing the socio-economic efficiency of the economic system is proposed, which creates the prerequisites for the effective management of the socioeconomic development of an organization in a permanent crisis environment.

Introduction

2018 ◽  
Author(s):  
Subramanian Rangan
Keyword(s):  
Moral Reasoning ◽  
Economic System ◽  
Market Power ◽  
Moral Philosophy ◽  
Adam Smith ◽  
Well Being ◽  
Economic Paradigm ◽  
Modern Economic ◽  
Great Output

Our quest for prosperity has produced great output (i.e. performance) but not always great outcomes (i.e. progress). Despite mounting regulation when it comes to fairness, well-being, and the scope of our humanity, the modern economic system still leaves much to be desired. If practice is to evolve substantively and systematically, then we must help evolve an economic paradigm where mutuality is more systematically complemented by morality. The bases of this morality must rest, beyond the sympathetic sentiments envisaged by Adam Smith, on an expanded and intentional moral reasoning. Moral philosophy has a natural role in informing and influencing such a turn in our thinking, especially when education is the preferred vehicle of transformation. Indeed, rather than just regulate market power we must also better educate market power.

Interest Rate–Economic Growth Nexus Under Currency Board Operations

2021 ◽  
Vol 8 (1) ◽  
pp. 13-24
Author(s):  
Martinianus Tshimologo Tibinyane ◽  
Teresia Kaulihowa
Keyword(s):  
Economic Growth ◽  
Interest Rate ◽  
Impulse Response ◽  
Response Function ◽  
Open Economy ◽  
Small Open Economy ◽  
Impulse Response Function ◽  
Policy Instrument ◽  
Variance Decomposition ◽  
Currency Board

This paper analyses the effect of the prime interest rate as a monetary policy instrument to stimulate economic growth in Namibia, a small open economy that is constrained by currency board operations. A Vector Autoregressive Model (VAR) was used for the period 1980–2019. The result shows that Namibia’s prime interest rate has no significant effect on economic growth. This finding remains robust and consistent when impulse response function and variance decomposition are employed. The impulse response function indicates a shock on the prime interest rate exhibits an inverse relationship. However, this effect is insignificant in both short and long-run scenarios. The variance decomposition indicates that the prime interest rate has a strongly exogenous impact, implying it has a weak influence on GDP growth. Policy implication indicates that small open economies under currency board operations need to identify different policy responses to circumvent external shocks and addresses their development needs.

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