On the Factors of Demand for Economic Growth

2018 ◽  
pp. 4-14
Author(s):  
Ольга Николайчук ◽  
Olga Nikolaychuk ◽  
А. Волкова ◽  
A. Volkova ◽  
В. Шарова ◽  
...  
Keyword(s):  
Economic Growth ◽  
Durable Goods ◽  
Aggregate Demand ◽  
External Debt ◽  
Economic Security ◽  
The State ◽  
Business Activity ◽  
Consumer Spending ◽  
Domestic Debt ◽  
Investment Goods

To analyze the problems of economic growth in Russia, the factors of demand that affect economic growth are chosen: the volumes and dynamics of consumer spending, tax instruments and debt indicators in Russia and in recent years. Changes in the population’s expenses for the purchase of goods and services, the purchase of investment goods-real estate, as well as the use of credit sources to replenish the current and investment costs of citizens are analyzed. The main indicators are given in current prices and are recounted by the authors, for greater reliability of the findings, in prices at the beginning of 2015. The reasons for the formation of external and internal debt are revealed. It is noted thatthe external debt in recent years has grown through borrowing in external financial markets through the placement of government securities, as well as an increase in the volume of state guarantees. The thesis was confirmed that in macroeconomics only in the long run the influence of the change in the state debt on consumption is traced. It is especiallyemphasized that the state external debt burdens the national economy of the country, reduces aggregate demand, slows economic growth and, ultimately, leads to a decline in GDP. The state, having placed its stake on domestic debt, has increased the share of state guarantees by 4 times over the past 8 years and brought domestic debt to the limit, which has affected not only the fiscal and fiscal policies of the state, but it can negatively affect Russia’s economic security. In general, amid the downturn in business activity in Russia in recent years, the increase in public debt has led to a reduction in the consumption of durable goods and investment goods. Thus, based on the analysis of the dynamics of consumer spending of Russians, debt and tax policy, it was concluded that the pace of business activity and the need for government intervention in regulating the processes covered in the article, especially in the context of the crisis, were reduced.

scholarly journals ENSURING THE ECONOMIC SECURITY OF THE STATE IN INSURANCE PROCESSES

2020 ◽  
pp. 198-202
Author(s):  
І. В. Ліченко
Keyword(s):  
Economic Growth ◽  
National Economy ◽  
Private Insurance ◽  
Economic Security ◽  
The State ◽  
Sustainable Growth ◽  
Insurance Companies ◽  
Government Agencies ◽  
External Threats ◽  
National Institutions

In the current conditions of instability of the national economy and tense geopolitical situation, one of the key factors contributing to the realization of national interests and priorities of Ukraine is economic security. Which characterizes a state of the economy in which the economic interests of the enterprise, region, state and society are reliably protected from internal and external threats. The development of integration processes in the world community contributes to the economic growth of the state, however, like any development process, it faces a number of negative factors and risks that pose a threat to economic security. Given the complexity of the processes in domestic and foreign policy, the majority of the population is unsure of their future. The global crisis has revealed serious shortcomings in the mechanism for managing the economic security of the state and domestic economic entities, which has been reflected in declining economic growth, gross domestic product, rising unemployment and other indicators. As a result, there is a growing focus on security and risk management tools at the macroeconomic level, as well as their effectiveness in the national context. The article examines the mechanisms of ensuring the economic security of the state in the insurance process, which are crucial factors for sustainable growth and functioning of the national economy as a whole. Various areas are considered: ensuring the safety of policyholders, private insurance companies, national institutions (government agencies, organizations). The article examines the mechanisms for ensuring the economic security of the state in the insurance process, which are the most important components of stable growth and functioning of the national economy as a whole. Various areas are considered: ensuring the safety of insured persons, private insurance companies, national institutions (government agencies, organizations). The economic security of the state must be ensured, first of all, by the efficiency of the economy itself, that is, along with the protective measures taken by the state, it must protect itself on the basis of high productivity, product quality and more.

Is public debt hindering economic growth of the Philippines?

2015 ◽  
Vol 42 (3) ◽  
pp. 202-221 ◽  
Author(s):  
Naeem Akram
Keyword(s):  
Economic Growth ◽  
Public Debt ◽  
Positive Relationship ◽  
External Debt ◽  
The Philippines ◽  
Crowding Out ◽  
Content Type ◽  
Debt Overhang ◽  
Real Gdp ◽  
Domestic Debt

Purpose – Over the years most of the developing countries have failed to collect enough revenues to finance their budgets. As a result, they have to face the problem of twin deficits and to rely on external and domestic debt to finance their developmental activities. The positive effects of public debt relate to the fact that in resource-starved economies debt financing (if done properly) leads to higher growth and adds to their capacity to service and repay external and internal debt. The negative effects work through two main channels – i.e., “Debt Overhang” and “Crowding Out” effects. The purpose of this paper is to examine the consequences of public debt for economic growth and investment for the Philippines. Design/methodology/approach – The present study examines the consequences of public debt for economic growth and investment for the Philippines during the period 1975-2010, by using autoregressive distributed lag technique. Findings – The results reveal that in the Philippines, public external debt has negative and significant relationship with economic growth and investment confirming the existence of “Debt Overhang effect”. But due to insignificant relationships of debt servicing with investment and economic growth, the existence of the crowding out hypothesis could not be confirmed. The domestic debt has a negative relationship with investment and positive relationship with economic growth. Research limitations/implications – First and foremost implication of the study is that heavy reliance on external debt must be discouraged. Therefore, in order to accelerate economic growth, developing countries must adopt those policies that are likely to result in reducing their debt burden, and it must not be allowed to reach unsustainable level. In the case of domestic debt, the present study finds that investment is negatively affected by domestic debt due to the crowding out effect; yet real GDP has a positive relationship with domestic debt. Thus, if policy makers want to use domestic debt as a tool to stimulate real GDP then it must keep an eye on the consequences of domestic debt on the investment. Practical implications – First and foremost implication of the study is that heavy reliance on external debt must be discouraged. Therefore, in order to accelerate economic growth, the Philippines must adopt those policies that are likely to result in reducing their debt burden, and external debt it must not be allowed to reach unsustainable level. In the case of domestic debt, the present study finds that investment is negatively affected by domestic debt due to the crowding out effect; yet real GDP has a positive relationship with domestic debt. Thus, if policy makers want to use domestic debt as a tool to stimulate real GDP then it must keep an eye on the consequences of domestic debt for on the investment. Social implications – It also follows from the estimation results that population growth rate is harmful for the economic growth. So in order to stimulate the growth performance, it must adopt effective population control policies. Similarly, since openness and investment are growth enhancing so there is need for the trade and investment supportive policies. Originality/value – From the review of literature on the issue, it can be broadly summarized that most of the studies are on the relationship of external debt and economic growth, neglecting domestic debt entirely or mentioning it in the passing. Second, most of these studies have been conducted by using panel data. However, as the different countries vary in socio-economic conditions so it is better to conduct the country specific study. The present study is an attempt to fill these gaps in the existing literature.

scholarly journals FISCAL POLICY OF RUSSIA IN THE PERIOD OF ECONOMIC GROWTH SLOWDOWN AND THE RESULTS OF 2018

Federalism ◽  
2019 ◽  
pp. 86-99 ◽  
Author(s):  
I. S. Bukina
Keyword(s):  
Economic Growth ◽  
Fiscal Policy ◽  
Government Spending ◽  
The State ◽  
Business Activity ◽  
Government Budget ◽  
Social Sphere

Traditionally, one of the objectives of fiscal policy is smoothing the effects of fluctuations in business activity. In this connection, in the periods of recession, there should be a stimulating policy, and in the periods of recovery – restraining policy. Fiscal policy in Russia, as it’s shown in the article, is primarily procyclical. During the 2015 recession, according to the  calculations using multipliers, government spending contributed to the reduction of GDP rather than to the support of its growth. Later, despite a significant increase in the revenues of the expanded government budget and the shift in priorities from defense and security financing to social sphere, the effect of the increase in budget expenditures turned out to be negative. The article also discusses the state of the budget sphere following the results of 2018, which showed the restoration of economic growth.

scholarly journals Financial security of a small open economy in conditions of globalization as a requirement for economic growth

2019 ◽  
pp. 9-24
Author(s):  
Piotr Komorowski
Keyword(s):  
Economic Growth ◽  
Open Economy ◽  
Financial Stability ◽  
Small Open Economy ◽  
Economic Security ◽  
The State ◽  
Financial Security ◽  
Special Significance

In the conditions of the globalization of economies the issue of financial stability, which is a condition for the economic security of the state, has acquired a special significance. The aim of the article is to determine the importance of the role of financial stability for maintaining economic security and economic growth and to validate the role of the Safety Network Institution in maintaining stability.

scholarly journals КОНЦЕПТУАЛЬНІ ПОЛОЖЕННЯ СТВОРЕННЯ МОНІТОРИНГУ СИСТЕМ ЕКОНОМІЧНОЇ БЕЗПЕКИ ПІДПРИЄМНИЦТВА

2021 ◽  
pp. 12-18
Author(s):  
Тетяна Василівна Калінеску ◽  
Даніїл Сергійович Ревенко ◽  
Ігор Леонідович Мостіпан
Keyword(s):  
National Economy ◽  
General System ◽  
Economic Security ◽  
The State ◽  
Basic Material ◽  
Business Activity ◽  
Business Structures ◽  
Basic Hypothesis ◽  
Stable Development ◽  
Business Structure

The process of forming of certain economic strength security provides the proof functioning of business, its integration in control system by a region and state. Therefore, there is a permanent necessity for realization the monitoring of economic security of enterprise as a key element of steady development of national economy. A research aim is sent to forming of conceptual positions in realization of monitoring the systems of economic security of business. modern normatively-legal and legislative aspects became Methodological basis of research became modern normatively-legal and legislative aspects of strengthening of economic security and eliminate of existent threats in the process of realization the monitoring of economic security of different business structures. In the conducted researches used methods of dialectics, methods and principles of scientific cognition, instruments of economic analysis for the sake of forming the conceptual positions in relation to creation of monitoring the systems of economic security of business. The basic hypothesis of research became supposition about possibility of creation the universal conceptual bases of realization the monitoring of economic security of businessmen with the aim of providing of stable development of business activity in the different spheres of national economy. Exposition of basic material. In the article are investigated the basic requirements of creation the monitoring of the systems of economic security, that is pulled out on the modern stage of business development to marked the aim, tasks, principles, functions, and stages of realization the monitoring. It is brought indicators over of economic security and its threshold values on the different levels of management business activity, to underline, that for each separate business structure the indexes of economic security can be certain depending on the type of business. Originality and practical meaningfulness of research are confirmed by the offered conceptual bases to creation and realization of monitoring the systems of economic security of businessmen, which takes into attention the specific of activity the separate businessman, and allows to be integrated in the general system of the state economic security. Conclusions and prospects of further researches. It is well-proven that conceptual positions are offered the monitoring of the systems of economic security of business allow to recognize and identify threats, forecast its consequences, determine the methods of localization and give information for the management of business structure activity, to accept operative decisions on the removal of threats, to correct strategic aims of businessmen development, taking into attention the state of economic security of external and internal environment of functioning. Further researches will be sent to convergence of purposeful cooperations in the process of realization the monitoring in the system of economic security of enterprise

scholarly journals Features of formation of the state budget security

2019 ◽  
pp. 212-221
Author(s):  
Serhii Sobchuk
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Well Being ◽  
Economic Security ◽  
The State ◽  
Financial Resources ◽  
Main Task ◽  
State Budget ◽  
Socio Economic Development ◽  
Budget System

Relevance of the research topic. Socio-economic development, which is the main task and simultaneously an instrument for ensuring the effective functioning of the country and increasing the well-being of its population, is directly dependent on the effectiveness of fiscal policy. The choice of forms, methods and models of budget regulation allows to achieve the achieved results by allocation and redistributing the gross domestic product according to the priorities of ensuring economic growth. However, at the present stage, the danger of destructive influence on the budget system of endogenous and exogenous factors of influence increases. Thus, the analysis and characterization of the main approaches to the formation of the state budget security and determination of its increase the directions in the conditions of the country's transformation fiscal system and the limited financial resources are relevant. Formulation of the problem. Budgetary security as a component of the country's financial and economic security reflects the ability to effectively use financial resources accumulated in centralized and decentralized funds to ensure the country's financial stability, opportunities for expanded reproduction and social development. That is why it is expedient to determine the main threats to budget security, the degree of their impact on economic dynamics and possible options for their minimization. Analysis of recent research and publications. The work of foreign scientists is devoted to the study of the formation and assessment of the country's budget security: S. Blancart, J. Buchanan, J. Golden, R. Kelly, A. Rotfeld, A. Pigou, R. Dornbusch, J. Stiglitz, A. Hansen and others. Theoretical and practical contribution to the assessment of the budget regulation role of the socio-economic development and ensuring a sufficient level of its budgetary security of domestic scientists was made by O. Vasilik, V. Geyts, V. Gorbulin, A. Gritsenko, L. Lysyak, I. Lukyanenko, V. Oparin, S. Pirozhkov, V. Fedosov, I. Chugunov, S. Yuri and others. Selection of unexplored parts of the general problem. Highlighting issues become relevant in the face of increasing integration processes and financial globalization. It is important to develop the institutional framework for budget security, the expansion the system factors and indicators that characterize it, in accordance with international requirements and standards. Setting the task, the purpose of the study. The task of the study is to analyze the budget security characteristics. The aim of the study is to reveal the methodological and practical provisions of the formation Ukraine budget security in the context of the institutional modernization of the economy and to determine the directions of its increase by means of fiscal regulation. Method or methodology for conducting research. The article uses a set of methods and approaches of scientific knowledge, among which it is worth noting: systemic, structural, comparative, statistical, analysis and synthesis, synthesis and scientific abstraction. Presentation of the main material (results of work). The features of the formation of the country's budget security are determined. The main indicators of the functioning of the budget system of Ukraine are characterized and the degree of their influence on the level of budget security and socio-economic development is determined. The directions of increasing budget security in the context of institutional modernization of the economy are substantiated. The field of application of results. Organization and conduct of research on the formation and improvement of the budget security. Conclusions according to the article. The country's budget security is one of the main indicators of the level of development of the financial system. Providing long-term sustainability of public finances, balancing social and economic development is a priority task of state authorities. The main indicators of Ukraine's budget security show that there are destabilizing factors, but effective budget regulation will minimize their negative impact on the pace of economic growth. It is advisable to increase the level of budgetary discipline, improve medium-term budget planning and forecasting, form an effective strategy for managing public debt and budget deficit.

scholarly journals PROVISION OF INSURANCE PROCESSES IN UKRAINE BY LAW ENFORCEMENT AUTHORITIES

2020 ◽  
Vol 2 (4(106)) ◽  
pp. 170-176
Author(s):  
М. Я. Стрипко
Keyword(s):  
Economic Growth ◽  
Law Enforcement ◽  
National Economy ◽  
Private Insurance ◽  
Economic Security ◽  
The State ◽  
Insurance Companies ◽  
Government Agencies ◽  
Law Enforcement Agencies ◽  
National Institutions

The relevance of the article is that in today's conditions of instability of the national economy in the field of insurance, one of the key factors contributing to the national interests and priorities of Ukraine is economic security, which characterizes the state of the economy in which economic interests are reliably protected from internal and external threats. The development of integration processes in the world community contributes to the economic growth of the state, however, like any development process, it faces a number of negative factors and risks that pose a threat to economic security in the field of insurance. The global economic crisis has revealed serious shortcomings in the mechanism for managing the economic security of the state and domestic economic entities, which has been reflected in declining economic growth, gross domestic product, rising unemployment and other indicators. As a result, there is a growing focus on security and risk management tools at the macroeconomic level, as well as their effectiveness in the national context. World experience shows that ensuring economic security is a guarantee of state independence, a condition for stability and efficiency of society, and success. Therefore, ensuring economic security in the field of insurance is one of the most important national priorities. The article examines the mechanisms for ensuring insurance processes by law enforcement agencies, which are the basis for sustainable growth and functioning of the national economy as a whole. Various areas are considered: ensuring the safety of policyholders, private insurance companies, national institutions (government agencies, organizations). The article examines the mechanisms for ensuring insurance processes by law enforcement agencies, which are the basis for the growth and functioning of the national economy as a whole. Various areas are considered: ensuring the safety of insured persons, private insurance companies, national institutions (government agencies, organizations).

scholarly journals INVESTMENTS IN THE REGION: PROBLEMS OF EVALUATION AND ATTRACTION

2020 ◽  
pp. 95-103
Author(s):  
Tatyana Bugaeva
Keyword(s):  
Economic Growth ◽  
Development Strategy ◽  
Investment Strategy ◽  
Economic Security ◽  
The State ◽  
Investment Policy ◽  
Capital Inflows ◽  
Economic Sectors ◽  
Investment Activity ◽  
The Republic

The need to create conditions for attracting capital, which is the basis of economic growth in modern conditions, is particularly important. The improvement of mechanisms for reinvesting capital in economic growth and development is directly related to the macroeconomic mechanism itself. At the same time, the state is both the main initiator of investment policy and an investor. In this regard, the direct availability of an effective investment strategy and its high-quality implementation can significantly increase investment attractiveness at the level of the state, as well as at the level of the region or any subject. The systematic and systematic nature of investment activity implies the existence of mechanisms for attracting and implementing investments that significantly increase their effectiveness. The most complete and effective implementation of the capabilities of any subject is possible only with a systematic strategic approach. The state of the investment climate of the Republic of Crimea is the basis for decision-making by investors, so one of the main tasks of the region is to create a favorable investment environment by implementing a long-term investment development strategy. By implementing an investment policy, the state and the regions, including Crimea, strive to achieve economic security, rationally deploy productive forces, strengthen their own industrial base as a whole, and structurally restructure the regional economy, thereby ensuring sufficient capital inflows for economic sectors and increasing their own competitiveness.

Fiscal questions cloud Costa Rica’s economic outlook

2018 ◽  
Keyword(s):  
Current Account ◽  
Current Account Deficit ◽  
External Debt ◽  
The State ◽  
Medium Term ◽  
Fiscal Reform ◽  
Content Type ◽  
Domestic Debt ◽  
Key Sectors ◽  
Economic Outlook

Significance Such unity proved elusive for former President Luis Guillermo Solis, for whom fiscal reform in particular caused legislative gridlock. Alvarado inherits an economy that is showing signs of strengthening after being relatively stagnant through much of 2017. However, the state of public finances is a source of enduring investor concern. Impacts Volatility in key sectors means growth will be unpredictable over the coming year. Relatively strong FDI means the current account deficit will not cause significant difficulties. Domestic debt will be a far more serious risk than external debt over the medium term.

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