scholarly journals The mechanism of synergetic interaction of policy instruments of central banks with the governments of their countries as an element of increasing the level of economic development in the face of an epidemic threat

2020 ◽  
Vol 8 (5) ◽  
pp. 13-21
Author(s):  
Leonid Taraniuk ◽  
Oksana Zamora ◽  
Oleksii Demikhov
Keyword(s):  
Developing Countries ◽  
Economic Policy ◽  
Economic Development ◽  
Comparative Analysis ◽  
Central Bank ◽  
Policy Instruments ◽  
The State ◽  
Effective Management ◽  
The World ◽  
Level Of Economic Development

Goal. The purpose of the research is to conduct a comparative study of the work of the Central Bank of the world with their governments in the context of forming a mechanism for synergistic interaction of its economic policy instruments to improve the level of economic development. Topicality. The actualization of this study is the need to establish effective formal and informal links between the central bank as a system-forming financial institution that shapes the monetary policy of the state and the government as a governing body that creates a virgin economic policy. There is a need for a systematic comparative analysis of the experience of developed and developing countries in order to form an effective tool for economic policy of the central bank with its government and make effective management decisions aimed at improving the level of economic development. Results. The system of relations between the central bank of developed and developing countries and their governments is described. Factors of positive and negative influence on the formation of economic policy tools of the central bank of the countries and their governments are revealed. Formal and informal links have been analyzed between the world country’s central bank and its government in the process of implementing the central bank’s economic policy. The mechanism of synergetic interaction of the tools of economic policy of the central bank of the countries with their governments is improved, which contains indicative indicators of the interactions of the central bank, ministries, government of the countries for the purpose of making effective management decisions. The necessity of systematic work of all stakeholders (central bank, government, other stakeholders) in the process of forming economic policy, the implementation of which can affect the level of economic development of the state, is substantiated. Conclusions. The comparative analysis with elements of benchmarking estimation is carried out The mechanism of relations of the central bank of the country with its government is improved. The role of this interaction of the country's central bank with its government and other stakeholders was assessed.

Technological Innovation, Trade and Development

2011 ◽  
pp. 79-101
Author(s):  
Laura Márquez-Ramos ◽  
Inmaculada Martínez-Zarzoso ◽  
Celestino Suárez-Burguet
Keyword(s):  
Developing Countries ◽  
Economic Policy ◽  
Economic Development ◽  
International Trade ◽  
Technological Innovation ◽  
Explanatory Power ◽  
Geographical Distance ◽  
Technological Capabilities ◽  
Level Of Economic Development

This chapter tests empirically to what extent technological innovation influences international trade and studies its effect on different groups of countries according to their level of economic development. Different measures used in the literature to proxy for technological capabilities are reviewed and two of them are selected. The estimation results show that technological innovation has a considerably high explanatory power on trade compared with other traditional determinants. Countries tend to trade more when they have similar technological capabilities and the development of technological innovation has lowered the effect of geographical distance on trade. According to the obtained results, investing in technological innovation leads to the improvement and maintenance of the level of competitiveness, therefore a good economic policy in developing countries is to invest in technological innovation.

Poverty and Hunger are Inseparable Factors in the Food Security System (comparative analysis)

2020 ◽  
pp. 6-12
Author(s):  
A.N. Semin ◽  
◽  
L.E. Namyatova ◽  
Keyword(s):  
Developing Countries ◽  
Food Security ◽  
Comparative Analysis ◽  
Poverty Reduction ◽  
The State ◽  
Security System ◽  
Extreme Poverty ◽  
The World

The article examines trends in the state of poverty and hunger, which are integral components of food security. The results of research by scientists from different countries of the world on this issue are presented. In practical terms, the indicators of poverty reduction in Russia for the period up to 2030 are outlined, as well as measures aimed at combating extreme poverty and hunger in developing countries.

scholarly journals Strategic approach to the development of ecotourism in Bor District, Serbia

2020 ◽  
Vol 8 (2) ◽  
pp. 89-100
Author(s):  
Danijela Voza ◽  
Aleksandra Fedajev
Keyword(s):  
Developing Countries ◽  
Economic Development ◽  
Natural Resources ◽  
The State ◽  
Global Level ◽  
Original State ◽  
Alternative Tourism ◽  
Strategic Approach ◽  
The World

The increase in ecotourism popularity at a global level is a consequence of the increased human concern for the state of natural resources. This type of alternative tourism is increasingly present in tourist trends around the world. For developing countries, ecotourism can be an opportunity for accelerating economic development by exploiting natural resources, without changing their original state. Although it offers great opportunities, the management of tourism in protected or unprotected natural assets is a great challenge. The importance of integrating the actions of all stakeholders and the usage of strategic approach are often neglected. The aim of this paper is to generate strategies for the development of ecotourism in Bor and its surroundings. For this purpose, a combined SWOT-TOWS methodology is applied. Based on the obtained results, nine strategies are proposed, whose implementation would enable the usage of natural and cultural and historical potentials for the revival of ecotourism in this area.

scholarly journals Privatization-A Device for Reforming Public Enterprise Sector in Pakistan

1991 ◽  
Vol 30 (4II) ◽  
pp. 895-905 ◽  
Author(s):  
Istaqbal Mehdi
Keyword(s):  
Developing Countries ◽  
Economic Policy ◽  
Private Sector ◽  
The State ◽  
Public Enterprise ◽  
Public Enterprises ◽  
Performance Constraints ◽  
The World ◽  
The Government ◽  
The 1960S

Privatization as an instrument for development is rmding significant currency in industrial and developing countries throughout the world. 1YPically, its need arises from the concerns over efficiency with which the state can manage public enterprises (PEs) or large and growing claims of these enterprises on national budgets. In Pakistan its need emanates from both. Barring a few years in the early 1970s, the policy of development through private enterprise remained the mainstay of the Government of Pakistan (GOP) economic policy throughout the four decades of the country's life. In fact, a policy of privatization i.e., transferring public assets to the private sector control remained an enunciated policy in the 1950s and the 1960s, which was again adopted in the late 1970s. However· it was not until late the 1980s that concerted efforts were mounted to breath life into the moribund programme of privatization. In developing a programme for privatization the question faced by us concern the size of the existing PE sector, its performance, constraints in and prerequisite for privatization. The most important question is can we privatize all PEs, if not, then what productivity enhancing measures can we take for enterprises which cannot be privatized in the immediate future.

Technological Innovation, Trade and Development

2008 ◽  
pp. 284-303
Author(s):  
Laura Márquez-Ramos ◽  
Inmaculada Martínez-Zarzoso ◽  
Celestino Suárez-Burguet
Keyword(s):  
Developing Countries ◽  
Economic Policy ◽  
Economic Development ◽  
International Trade ◽  
Technological Innovation ◽  
Explanatory Power ◽  
Geographical Distance ◽  
Technological Capabilities ◽  
Level Of Economic Development

This chapter tests empirically to what extent technological innovation influences international trade and studies its effect on different groups of countries according to their level of economic development. Different measures used in the literature to proxy for technological capabilities are reviewed and two of them are selected. The estimation results show that technological innovation has a considerably high explanatory power on trade compared with other traditional determinants. Countries tend to trade more when they have similar technological capabilities and the development of technological innovation has lowered the effect of geographical distance on trade. According to the obtained results, investing in technological innovation leads to the improvement and maintenance of the level of competitiveness, therefore a good economic policy in developing countries is to invest in technological innovation.

scholarly journals What use is the Neo-Classical Theory of International Trade?

1999 ◽  
Vol 4 (1) ◽  
pp. 89-114
Author(s):  
Sikander Rahim
Keyword(s):  
International Economic ◽  
Developing Countries ◽  
Economic Policy ◽  
Economic Development ◽  
Free Trade ◽  
World Bank ◽  
Developed Economies ◽  
The World Bank ◽  
The Press ◽  
The World

International economic policy is now more under the sway of orthodox economics than it has ever been. The main international economic institutions, the IMF, the World Bank, the WTO, and the major developed economies are unremitting advocates of free trade and impose their views on the developing countries. And the developing countries, whose attempts at economic development through protection have mostly failed, are on the whole inclined to accept these views. Over the last twenty years economic policy in these countries has more and more come to be formulated by orthodox neo-classical economists, often described in the press as “reformers”, who advocate more reliance on markets and less protection against imports.

Between Modernization and Stagnation: Economic Policy in 2012

2013 ◽  
pp. 4-23 ◽  
Author(s):  
V. Mau
Keyword(s):  
Economic Policy ◽  
Economic Development ◽  
Russian Economic Development ◽  
Structural Transformation ◽  
Economic Performance ◽  
Historical Analysis ◽  
Oil Boom ◽  
The World

The paper deals with the trends in the world and Russian economies towards development of a new post-crisis system, including technological and structural transformation. Three main scenarios of Russian economic development (conservative, innovation and acceleration) are discussed basing on historical analysis of Russian economic performance since 1970-s when oil boom started. On this basis key challenges of economic policy in 2013 are discussed.

Material costs in productural productivity structure: world trends and impact on development of the domestic economy

2019 ◽  
Vol 39 (2) ◽  
pp. 196-205
Author(s):  
N. V. Firov
Keyword(s):  
Economic Development ◽  
Comparative Analysis ◽  
Natural Resources ◽  
National Economy ◽  
Raw Materials ◽  
The State ◽  
Domestic Economy ◽  
Western Countries ◽  
Material Costs

A comparative analysis of the prices of raw materials, fuel, electricity in Russia and Western countries, the dynamics of their growth and impact on the national economy. It is shown that in the interests of the country's economic development and improving the welfare of the population, it is necessary to use its natural resources more effectively, to pursue a more stringent and at the same time balanced policy to curb the growth of prices, taking into account the interests of the state and business.

scholarly journals TRANSFORMATION OF THE STRATEGY OF STATE ECONOMIC POLICY IN MODERN CONDITIONS

2020 ◽  
Vol 6 (3) ◽  
pp. 107-113
Author(s):  
Iaroslav Petrunenko ◽  
Oleg Podtserkovnyi
Keyword(s):  
Economic Policy ◽  
World Economy ◽  
Raw Materials ◽  
Crisis Response ◽  
The State ◽  
Irreversible Processes ◽  
Economic Damage ◽  
Economic Management ◽  
Foreign Economic Policy ◽  
The World

Complex and contradictory processes of modern social transformations and the need to overcome the crisis in the economy require the appropriate influence of the state and a clear system of socio-economic management through the formation and implementation of effective state economic policy. The main elements of economic policy are financial and credit, budgetary, scientific and technical, structural, social, investment, agricultural, regional, foreign economic policy. The implementation of state economic policy is considered in terms of the relationship between social problems and the state. Therefore, the purpose of the article is to study the essence, tools and methods of state economic policy in modern conditions. It is also necessary to identify the main risks and features of further development of state economic policy of individual states in a global imbalance and crisis. The theoretical part is devoted to the study of the essence of state economic policy, theoretical and practical aspects of its organization in the state, as well as tools that can be used by the state. The resulting part is devoted to the consideration of the situation, in which the world economy has found itself in 2020 in the conditions of the economic COVID-19 crisis. General forecasts have not provided to individual states because it has been impossible to predict the end of the pandemic and the return of the world to normal life. However, it is clear that the world economy has undergone irreversible processes that will synergistically affect different states in different ways. The crisis has hit a significant number of industries, including tourism, logistics, hotel business, the crisis has been felt in world markets: oil prices have collapsed, as well as the stock markets. Undoubtedly, there are areas with a rapid growth, especially the pharmaceutical industry and retail, online delivery services, IT entertainment and communications industry, information marketing business and education and training services. It is likely that the indicators of economic development in the states by the end of the year will be better than the results of the first half of the year. The basic forecast of economic world development assumes a sharp growth of the economy after a short recession after quarantine. The financial capabilities of the EU states vary considerably, but each state must pursue counter-cyclical policies aimed at stabilizing its own economy. The answer to the question of what kind of crisis response policy they can afford depends on the fiscal policy of the states before the crisis. In economically developed states, where emergency measures have been introduced, governments and central banks issue trillions of dollars in government spending, social support of citizens, and interest-free business loans to limit the economic damage of quarantine. At the same time, in Latin America and Southeast Asia, total quarantine is impossible in multi-million cities. Such states have a triple effect of suffering from the virus, the environment and poverty. States dependent on the export of natural resources and raw materials, when faced with the crisis, are forced to sell them for nothing, so they will suffer great losses. More than 150 states have set up anti-crisis headquarters and are taking anti-crisis measures. The authors have also tried to predict how largescale the global economic crisis will be for Ukraine, what consequences await it, and what measures need to be taken to overcome it.

scholarly journals Using fuzzy logic for evaluating the level of countries’ (regions’) economic development

2012 ◽  
Vol 59 (3) ◽  
pp. 293-310 ◽  
Author(s):  
Gordan Stojic
Keyword(s):  
Mathematical Model ◽  
Economic Development ◽  
Fuzzy Logic ◽  
Developed Countries ◽  
Gdp Per Capita ◽  
Industrial Growth ◽  
The Poor ◽  
The World ◽  
Level Of Economic Development ◽  
Per Capita

There are several divisions of countries and regions in the world. Besides geo-political divisions, there also are economic divisions. The most common economic division is the that on developed countries and the poor ones. These divisions are a consequence of the level of: GDP, GDP per capita, unemployment rate, industrial growth, and so on. The question is how to define a mathematical model based on which the following will be assessed: who is rich and who is poor, or who is economically developed and who is not? How the boundaries of transition from one category to another can be defined? This paper presents a model for evaluating the level of economic development of countries and regions using "fuzzy" logic. The model was tested on a sample of 19 EU member countries and aspirants for membership.

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