scholarly journals FROM THE SYNTHESIS OF ECONOMIC THEORIES TO POLITICAL CONSENSUS: MONETARY AND FISCAL DILEMMAS OF MACROECONOMIC STABILIZATION IN THE CONTEXT OF THE CORONAVIRUS CRISIS

2021 ◽  
Vol 2021 (4) ◽  
pp. 3-29
Author(s):  
NATALIIA REZNIKOVA ◽  
◽  
Volodymyr PANCHENKO ◽  
Oksana IVASHCHENKO ◽  
◽  
...  
Keyword(s):  
Economic Growth ◽  
Economic Activity ◽  
Full Employment ◽  
Supply And Demand ◽  
Planning Horizon ◽  
Regulatory Competition ◽  
New Keynesian ◽  
The Political ◽  
Macroeconomic Stabilization ◽  
The Government

An analysis of government programs for macroeconomic stabilization of selected countries is made to establish their compliance with scientific approaches that determine the political choice in favor of the use of monetary and/or fiscal instruments for stimulation of economic activity based on the revision of the substantive provisions of neoclassical synthesis and the new macroeconomic consensus to highlight the peculiarities of interpretation of macroeconomic processes, the nature of cyclical fluctuations and ways to level and adjust them. It is established that the most popular in the political sphere are the conclusions of the new neoclassical synthesis (New Consensus in Macroeconomics), which combines the new Keynesian approach and the real business cycle approach, however, they are also adjusted in any form, depending on the priority of the government. (the desire to achieve full employment; price stabilization; economic growth and balance of payments; efficient use of limited resources), provide mostly short-term planning horizon, which complicates the exit from the “vicious circle” of economic policy, when its dynamic development becomes hostage to the need for constant adaptation in accordance with the changing conditions, which it itself by its own adjustment causes. It was found that in the situation of the Coronavirus crisis the issues of combating the simultaneous shocks of supply and demand, and unemployment in particular, are recognized as a priority and sought to be addressed through a combination of monetary and fiscal policy tools, including regulatory competition by neoprotectionism. defined by us as a set of principles, tools and methods of regulatory policy in international trade, international capital movements and foreign investment, as well as international monetary, financial and credit relations, the imperative of which is to stimulate socio-economic development and economic growth by creating conditions for increasing the economic activity of all economic entities.

Ecuador’s Lasso weathers early storm but clouds loom

2022 ◽  
Keyword(s):  
Economic Growth ◽  
Economic Activity ◽  
Direct Investment ◽  
Tax Reform ◽  
The Political ◽  
Tax Reforms ◽  
Content Type ◽  
Downward Pressure ◽  
New Challenges ◽  
International Investors

Significance He appears to have weathered this early political storm, achieving notable successes in areas such as tax reform. However, the political outlook remains uncertain, with a likely COVID-19 resurgence heralding new challenges in 2022. Impacts Containing the spread of the Omicron variant will be a priority for Lasso in the coming months. A pandemic resurgence would place downward pressure on economic growth and tax collection. Tax reforms will please international investors and support efforts to attract foreign direct investment to stimulate economic activity.

scholarly journals INFLATION, ECONOMIC GROWTH AND UNEMPLOYMENT

2019 ◽  
Vol 30 (1) ◽  
pp. 131-134
Author(s):  
Trajanka Makrevska
Keyword(s):  
Economic Growth ◽  
Distribution System ◽  
Full Employment ◽  
Supply And Demand ◽  
Modern Society ◽  
High Rate ◽  
Stabilization Policy ◽  
Goods And Services ◽  
Cyclical Fluctuation ◽  
Price Growth

The main characteristic of today's inflation is its universality, durability and the power of rapid spread and transmission. Тhere is not more reliable and more sophisticated way of breaking down the existing foundations of society from the depreciation of its currency. That process on the side of the destruction connects all the hidden forces of economic flows. Тhere is not generally accepted inflation theory that would satisfy and would give the greatest number of responses to the complex phenomenon of inflationary disorder, while at the same time giving the economic policy makers reliable indicators for conducting an efficient stabilization policy. Economic theory is faced with new questions, even when defining the problem itself . Inflation does not repeat in the same form, it further expresses the complexity of this problem, although it always binds its external manifestation to a steady and rapid increase in prices. Today, there can be inflation without price growth (controlled inflation). Inflation is no longer explained as a disproportion between supply and demand, i.e. excess demand over the supply of goods and services. The theory of inflation is more pre-tasking to explain the initial impulse and the mechanism of their cumulative expansion. The relation to the causes and types of inflation is changing. The question is how to ensure a high rate of economic growth with technological stability of prices and possible full employment. In connection with the previous one, other questions are asked, how growth is justified, with a growing appreciation of the need for introducing a new distribution system. The distribution system often has a crucial effect on the formation of accumulation and consumption and their relations. Inflation today develops under completely different conditions of various economic, political and other structures of the society as a whole. This means that there are new factors that decisively affect the production, supply and demand, prices and money in the cyclical fluctuation of modern society.

scholarly journals Gasto público, permanencia en el poder y crecimiento económico

2020 ◽  
Vol 30 (1) ◽  
pp. 363
Author(s):  
Juan Marroquín Arreola ◽  
Humberto Ríos Bolívar
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Public Expenditure ◽  
Growth Models ◽  
Public Spending ◽  
The Political ◽  
The Government

The aim of this paper is to analyze how the government determines the proportion of public spending to maximize its political benefit and stay in power. Using growth models and making modifications in them, this study demonstrates that the actions of public expenditure and growth rate are determined by the parameters of political gain. Also, the results of the simulations show that if the political gain of distribution policy is high, the government will allocate a greater share of the fund for purposes of distribution adversely affecting economic growth.

Continuity in Economic Activity and Policy during the Post-Petrine Period in Russia

1965 ◽  
Vol 25 (1) ◽  
pp. 61-85 ◽  
Author(s):  
Arcadius Kahan
Keyword(s):  
Eighteenth Century ◽  
Social Order ◽  
Economic Activity ◽  
Large Scale ◽  
The Political ◽  
Peter The Great ◽  
Private Entrepreneurs ◽  
European Standards ◽  
The Government ◽  
Foreign Entrepreneurs

To discuss economic activity in Russia of the eighteenth century is to deal with an economic and social order that antedates the age of industrialization. Industrial activity in Russia during the eighteenth century was carried on within the political framework of an autocratic state, with ill-defined norms of legal behavior, and against the background of a serf agriculture which reached its apogee during this very period. The state of the industrial arts was low in comparison with western European standards, and the use of waterpower as a motive force in manufactories was introduced in Russia by foreign entrepreneurs only in the seventeenth century. Against this background, the efforts by Peter the Great (reigned 1682–1725) to modernize Russia appear genuinely heroic. The demands of his policy forced the government to engage directly in a vast program of establishing new industries, of converting small handicraft workshops into large-scale manufactories, and of encouraging private entrepreneurs to follow the government's example.

scholarly journals Constitutionalized But Not Constitute: The Case of Right to Social Security in Indonesia

2020 ◽  
Vol 6 (2) ◽  
pp. 241
Author(s):  
Stefanus Hendrianto
Keyword(s):  
Economic Growth ◽  
Comparative Analysis ◽  
Social Security ◽  
Social Economic ◽  
Theoretical Framework ◽  
The Political ◽  
Theoretical Frameworks ◽  
Economic Rights ◽  
The Government ◽  
The Right

Previous studies on the development of socio-economic rights in Indonesia heavily focus on the Constitutional Court’s decisions in upholding the rights. But there is still minimum study on the political economy behind the development of socio-economic rights in Indonesia. This article will analyze the development of socio-economic rights through the lenses of the right to social security. This article relies on two major theoretical frameworks to analyze the development of the right to social security in Indonesia. The first theoretical framework is the authoritarian constitutionalism in the economic sphere. The second theoretical framework in this article is Kathrine Young’s theory of the construction of socio-economic rights. This article postulates that the rights to social security has been constitutionalized but not constituted in Indonesia for several reasons. First, and foremost, the legacy of authoritarian constitutionalism that prioritizing economic growth over the fulfilment of social economic rights. The “growth” ideology has contributed to the discrepancy between the constitution and reality, in which the government merely considers protection of socio-economic rights as extra cost, which will hamper the growth of the economy. Second, the lack of philosophical and comparative analysis in the interpretation of rights to social security. Third, the transformation of the Court as a detached court in the enforcement of the rights to social security. The element of detachment is clearly seen in the Court’s too much deferral to the Executive and Legislative branches in defining the scope and meaning of the right to social security. Finally, the failure of social movement to create a new narrative on injustice and the importance of rights to social security.

scholarly journals Ṣukūk: A Sharīʿah Compliant Tool for Financing Budget Deficits

2019 ◽  
Vol 32 (1) ◽  
pp. 119-124
Author(s):  
Omar Zuhair Hafiz Omar Zuhair Hafiz
Keyword(s):  
Economic Growth ◽  
Economic Activity ◽  
Budget Deficit ◽  
Negative Relationship ◽  
Budget Deficits ◽  
International Debt ◽  
Key Variables ◽  
The Government ◽  
The Impact ◽  
The Relationship

The lead paper (Pettifor, 2019) discusses an important issue at the macroeconomic level, especially the impact of financing government’s expansionary budget deficit through borrowing. The paper reiterates that claiming that the use of loans to finance the deficit will lead to a decline in the economic activity and will in turn increase the deficit, is a common misconception. In fact, the data on the British economy over a period of a hundred years, as shown in the lead paper, proves that there is a positive relationship between the volume of the budget deficit (and public debt) and economic activity. This, in turn, lead to a decrease in unemployment and thus, eventually contributed to a reduction in the budget deficit. These results have been proven by other researches as well as I have mentioned in this paper. I have also pointed to other researches which indicate that there is a negative relationship between the size of the debt (or the budget deficit), and economic activity, which contradicts the hypothesis of the lead paper. In this brief comment on the lead paper, I also discuss the fact that the global debt phenomenon has become a burning issue. I present a summary of the state of international debt around the world and discuss its impact on the economies of many countries that repay their debts in hard currencies. I argue that this situation must be taken into consideration when discussing the impact of borrowing to finance the government budget deficit to stimulate economic growth. I also propose that these effects on the borrowing economies should also be analyzed in the event that these international loans are in the form of Islamic instruments (ṣukūk) which are increasingly being used by some governments as a tool to finance their budget deficits, especially among the OIC countries. However, because it is a modern financing tool, several years need to pass before we can viably test the relationship between them and economic growth and the extent of their impact on key variables at the macro level of the economy.

scholarly journals PERAN PEMERINTAH KOTA SURABAYA DALAM PENGATURAN TRANSPORTASI PUBLIK KOTA SURABAYA: STUDI PERKOTAAN PROGRAM “SUROBOYO BUS”

2021 ◽  
Vol 6 (1) ◽  
pp. 1
Author(s):  
M. Bayu Winaryo ◽  
Ucu Martanto
Keyword(s):  
Economic Growth ◽  
Public Transportation ◽  
The Political ◽  
Political Decision ◽  
Role Of Government ◽  
Turn On ◽  
Transportation Sector ◽  
The Government ◽  
The City

The research focuses on the role of government institutions related to regulating public transportation in the city of Surabaya. Transportation is one sector which influences the economic growth of a city, the potential to be utilized as a commodity used in obtaining sources of power by some parties. Because in the practice of management, how a ruling regime is able to regulate, control and determine the direction of policy that will influence various efforts taken by the government to encourage economic growth from the region so as to be able to "turn on industrial machinery in its territory" and create new economic growth centers. Suroboyo Bus is also a manifestation of ongoing democracy in the city of Surabaya. In this study, we will explain several problems, first discussing the institutions involved in the process of forming a political decision related to the management of Suroboyo Bus, secondly about the interests involved in the political decision, the three relations that will emerge during the process. In this study it is known that the mayor is the institution that most determines the direction of policy that will be taken in the transportation sector in the city of Surabaya.

scholarly journals The Strategy of Universities in Creating Students as Entrepreneurs Amid the COVID-19 Pandemic

2021 ◽  
pp. 121-129
Author(s):  
Lalita Vistari ◽  
Sabar Sukarno ◽  
Jatayu Jiwanda DL ◽  
Franky Okto Bernando ◽  
Nico Pranata Mulya
Keyword(s):  
Economic Growth ◽  
Economic Activity ◽  
Tertiary Education ◽  
Economic Sector ◽  
Research Subjects ◽  
Economic Sectors ◽  
Public Consumption ◽  
New Business ◽  
The Government ◽  
Entrepreneurial Activities

As a result of COVID-19, the world is experiencing shocks and the risk of increasing uncertainty affecting various sectors, like the health, social and economic sectors. In the economic sector, economic activity has decreased. Numerous companies have laid off their employees because their businesses could not survive, and there is decreased business productivity, which has resulted in reduced public consumption and reduced economic growth. In a situation like this, humans are required to be able to adapt to existing conditions, by innovating to create new business fields or trying to become entrepreneurs to encourage economic growth. The economic activity amid the pandemic’s challenges has been initiated by the government in order for the Indonesian economy to revive, and universities in Jakarta, Tangerang, and Bekasi ( Jabeka) are trying to create new entrepreneurs in the economic sector. The purpose of this research was to describe the strategy of universities in creating students as entrepreneurs amid the COVID-19 pandemic. The research subjects were the program managers and the entrepreneurs’ lecturers. Descriptive qualitative methods were used, with Miles and Huberman data. Based on the results of the research, it can be concluded that universities prepared students very well in terms of the curriculum, teaching, entrepreneurial activities, and soft skills that students must have before graduating from tertiary education, such as requiring students to carry out entrepreneurship activities while being students. Keywords: strategy, universities, entrepreneurs.

scholarly journals The Provision of Free Higher Education in South Africa: A Proper Concept or a Parable?

2018 ◽  
Vol 8 (4) ◽  
pp. 51-61
Author(s):  
Halalisani Victor Mlambo ◽  
Mduduzi Hlongwa ◽  
Mandla Mubecua
Keyword(s):  
Higher Education ◽  
Economic Growth ◽  
South Africa ◽  
Service Delivery ◽  
Relevant Literature ◽  
The Political ◽  
Main Argument ◽  
The Media ◽  
The Government ◽  
Major Factors

The provision of free-higher education is one of the most debated issues in South Africa today. The issue of free-higher education has drawn many commentators from sectors such as the media, business and within the political dominions. The main argument is where will the money to fund free-higher education will come from, whether the provision of free-higher education in South Africa is a proper concept or just a parable and also the terms of reference with regards to the provision of free-higher education in the country. By strictly examining the available and relevant literature on the concept of free-higher education in South Africa, the study was able to comprehensively understand the dynamics, implications and probability of providing free-higher education. Infrastructure challenges and economic growth are undoubtedly the major factors hindering the country from providing free-higher education, and unfortunately, with the government already forging ahead with implementing free-higher education without a proper and extensive feasibility study, the hasty implementation of free-higher education will have devastating implications for growth and service delivery in the country. 

scholarly journals STRATEGI PEMBERDAYAAN UMKM JATIM DALAM MENGHADAPI MASA PANDEMI

2021 ◽  
Vol 3 (2) ◽  
pp. 77
Author(s):  
Diana Rapitasari ◽  
Soehardi Soehardi
Keyword(s):  
Economic Growth ◽  
Poverty Alleviation ◽  
Development Process ◽  
Small And Medium Enterprises ◽  
Supply And Demand ◽  
Critical Role ◽  
Provincial Government ◽  
National Economic ◽  
The Government ◽  
Medium Enterprises

Following the COVID-19 pandemic, Micro, Small, and Medium Enterprises (MSMEs) play a critical role in supporting national economic growth. The MSME sector has been particularly hard hit by the COVID-19 pandemic, which has disrupted supply and demand as well as supply chains, causing the economy's wheels to grind to a halt at the MSME level. MSMEs must be supported by the government and other stakeholders in order to grow and develop. The goal of empowering MSMEs is to achieve a balanced, developing, and equitable national economic structure, as well as to boost regional development, job creation, income distribution, economic growth, and poverty alleviation. The East Java Provincial Government has developed a policy as a strategy for empowering MSMEs in East Java, so that MSMEs are not disrupted in their development process during the pandemic.Keywords : strategy, MSME empowerment, pandemic

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