INVESTMENTS IN TECHNOLOGICAL LAYOUT. STIMULATION TOOLS

An issue of the economic growth launching in Russia and carrying out technological renewal of the economy seems to be the central task at the current stage of the country’s economic development. However, the overwhelming majority of theories of economic growth, as well as the classical theory of economic policy, do not give an exact answer as to the technological renewal in the economy and its role when changing the structure of technologies and investments in them. The present study fills that apparent gap, and on the basis of the theory of technological paradigms created by the Russian school of economic thought. The purpose of the study is to structurally analyze the dynamics of investments in fixed assets in the technological structures of the Russian economy with an assessment of the impact on it of certain instruments of macroeconomic policy. On the basis of taxonomic methods of identifying paradigms by types of economic activity, the authors propose a solution to the problem of measuring structures and the investments made in them. The stages in the methodology for the struc- tural analysis and assessment of the economic policy instruments impact- ing through the regression econometric analysis on the target investment function of each of the identified paradigms are formed. The study resulted in obtaining a picture of the distribution of the impact of macroeconomic policy instruments separately for each technological paradigm, according to the selection made. That allows, firstly, to understand the dispersed power of the influence of the economic policy being implemented, and secondly, to see the possibilities of correcting the ongoing structural and investment policy and the use of macroeconomic instruments, as well as institutional changes – individual for each element of the structure – technological paradigm. The prospect of the study is the development of various models based on the selected structure of technological paradigms and investments in them, linking the development of structures and detailing the impact of each of the economic policy instruments.

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Theory of technological mode in the structural analysis of growth of Russian economy

Russian Economic Journal ◽

10.33983/0130-9757-2021-1-74-108 ◽

2021 ◽

pp. 74-108

Author(s):

O.S. Sukharev ◽

E.N. Voronchikhina

Keyword(s):

Economic Growth ◽

Economic Policy ◽

Structural Analysis ◽

National Economy ◽

Policy Instruments ◽

Macroeconomic Policy ◽

Technological Changes ◽

Russian Economy ◽

Technological Mode ◽

Selection Of

The article gives a detailed commentary on the theory of technological structures developed in line with the modern Russian economic school (first of all — by academician S. Yu. Glaziev and his associates), and an attempt is made to develop it in a number of methodological, theoretical-content and methodical aspects. In this target context, the authors, starting from the existing taxonomy of technological orders, firstly, touch upon not only the issue of identifying (measuring) structures, but also the problem of assessing the contribution of the latter to economic growth. Secondly, they propose an approach to solving the problem of assessing the influence of macroeconomic policy instruments on each of the structures identified by science, which has not yet been solved by domestic and foreign scientists. This means instrumentalizing the theory of technological structures and expanding the scope of its application. We are talking about the use of the considered theory not only in the structural analysis of economic growth and technological changes in the national economy, but also in the development of a strategy for the development of the national economy, in the selection of economic policy instruments. At the same time, it is proposed to put such selection on a solid basis for the application of precise methods. Several dozen regressions have been analyzed for the basic tools of macro-policy — with the rejection of factors and the choice of equations for the best statistics.

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The Effect of Government Expenditures on Economic Growth. the Case of Albania

European Journal of Social Sciences Education and Research ◽

10.26417/ejser.v2i1.p242-253 ◽

2014 ◽

Vol 2 (1) ◽

pp. 242

Author(s):

Lorena Çakerri ◽

Migena Petanaj ◽

Oltiana Muharremi

Keyword(s):

Economic Growth ◽

Economic Policy ◽

Fiscal Policy ◽

Government Spending ◽

National Income ◽

Policy Instruments ◽

Government Expenditures ◽

Global Crisis ◽

The Government ◽

The Impact

One of the main issues of economic policy and government is to ensure a sustainable economic growth of a country.Economic growth has been at the center of every government in place since at least year 2000.Though for this teen-year ,growth values were satisfactory in Albania, the macroeconomic situation changed in 2009,when appeared the elements of the global crisis. Economic global crisis has awakened interest in the case of fiscal policy.Fiscal policy and monetary policy as well, are two basci components of state economic policy which are used for macroeconomic purposes:influence of gross domestic product, the level of enmployment, income and price level. The two main instruments of fiscal policy are government expenditures and taxes. Government expenditures are considered as the most powerful weapon available to fiscal policy makers, especially in developing countries such as Albania. During the last century , governments have spent more and more in relation to their national income. This increase in government spending can be explained by the impact that this variable can have on the economic growth of a country? In fact ,about the connection between the government spending and the economic growth of a country various studies seem full of contradictions.This conflict is explained by changes in terms of definitions and from the differencies of the various countries included in these studies. The objective of this study is to give an appropriate answer to the question : Can government spending have the potential to impact and stimulate economic growth? How the changes of the size of the fiscal policy instruments have affected indicators of economic growth in Albania? This article will focus on the role that the fiscal policy has on economic growth , especially in our country, reviewing economic growth theories, debates about the effectiveness of fiscal policy , and active fiscal policy. Finally some suggestions for the future addressing the government expenditures towards priority sectors.

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The impact of economic policy instruments on the conditions of sustainable economic growth

SHS Web of Conferences ◽

10.1051/shsconf/20207406003 ◽

2020 ◽

Vol 74 ◽

pp. 06003

Author(s):

Armen Altunyan ◽

Tatiana Kotcofana ◽

Viktoria Bazzhina

Keyword(s):

Economic Growth ◽

Economic Policy ◽

Interest Rates ◽

Financial Stability ◽

Foreign Currency ◽

Policy Instruments ◽

Economic Security ◽

Economic Policies ◽

Sustainable Economic Growth ◽

The Impact

Given the low rates of economic growth in Russia and the aggravation of the geopolitical situation, the question of the prospects for its stimulation with fiscal and monetary policy tools is of particular relevance. The main priority of the economic policy is to ensure financial stability and prevent destabilization, taking into account the volatility of hydrocarbons prices and the geopolitical tensions. The article uses dialectical materialistic and concrete historical methods to protect that the current economic policies should be focused on sustainable economic growth. It is necessary to form a new strategy of monetary regulation and budget policy that would contribute to the sustainable development of the Russian economy and ensure the economic security of the country. In the perspective of maintaining sustainable economic growth, it is important to solve the problem of equitable distribution, expressed in a strong stratification of society and the violation of social stability, the implementation of economic policy at the level of macroeconomic planning; it is advisable for the Central Bank to follow the link between the possible range of inflation and economic growth; to stimulate consumer and investment demand by reducing interest rates, to form money supply not due to linking gold and foreign currency reserves, but under the issue of securities, to increase budget expenditures and increase public debt for the sake of investment in education and health care.

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STUDY OF THE IMPACT OF RAISING THE RETIREMENT AGE ON ECONOMIC GROWTH IN THE DIGITAL ECONOMY IN RUSSIA AND EUROPE

4th EMAN Conference Proceedings (part of EMAN conference collection) ◽

10.31410/eman.2020.69 ◽

2020 ◽

Author(s):

Svetlana Apenko ◽

◽

Olga Kiriliuk ◽

Elena Legchilina ◽

Tatiana Tsalko ◽

...

Keyword(s):

Quality Of Life ◽

Economic Growth ◽

Economic Policy ◽

Labor Relations ◽

Pension Reform ◽

Digital Economy ◽

Institutional Changes ◽

Retirement Age ◽

The Impact

The article presents the results of a study of the impact of pension reform in Russia on economic growth and quality of life in a digital economy, taking into account the experience of raising the retirement age in Europe. The aim of the study was to identify and analyze the impact of raising the retirement age on economic growth in the context of the development of digitalization in Russia and a comparative analysis with European countries. Results: the studies conducted allowed us to develop a system of indicators characterizing the impact of raising the retirement age on economic growth and the quality of life of the population in the context of digitalization. The authors found that raising the retirement age leads to a change in labor relations in Russia and Europe. The application of the proposed indicators can be used in the formation of a balanced state socio-economic policy in the field of institutional changes in the field of labor relations and raising the retirement age. The study was carried out under a grant from the RFBR № 19-010-00362 А.

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Determinants of socio-economic transformations of technological systems: theoretical and methodical aspects

Regional Economy ◽

10.36818/1562-0905-2020-2-9 ◽

2020 ◽

pp. 102-111

Author(s):

Svitlana Shults ◽

Olena Lutskiv

Keyword(s):

Economic Growth ◽

Economic Development ◽

Structural Changes ◽

Member States ◽

Social Transformations ◽

Technological Basis ◽

Eu Member States ◽

Technological Paradigm ◽

Technological Paradigms ◽

The Eu

Technological development of society is of unequal cyclic nature and is characterized by changing periods of economic growth, stagnation phases, and technological crises. The new wave of technological changes and new technological basis corresponding to the technological paradigm boost the role of innovations and displace the traditional factors of economic growth. Currently, intellectual and scientific-technical capacity are the main economic development resources. The use of innovation and new knowledge change the technological structure of the economy, increase the elements of the innovative economy, knowledge economy, and digital economy, i.e. the new technological paradigm is formed. The paper aims to research the basic determinants of technological paradigms’ forming and development, and determining their key features, as well as to analyze social transformations of the EU Member States and Ukraine. The paper focuses attention on the research of the features of social transformations. The structural transformations are analyzed based on the Bertelsmann Transformation Index that estimates the quality of democracy, market economy, and political governance. The transformation processes are assessed on the example of the EU Member States and Ukraine. The authors argue that social transformations and structural changes in the economy are related to the change of technological paradigms that boost the economic modernization and gradual progressive development of humanity in general. The nature and main determinants of 5 industrial and 2 post-industrial technological paradigms are outlined. Their general features and main areas of basic technologies implementation emerging in the realization of a certain technological paradigm are explained. The conclusions regarding the fact that innovative technologies and available scientific-technological resources define the main vector of economic development are made. The new emerging technological paradigm is of strategic importance for society development.

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Money Supply-Economic Growth Nexus: Evidence from a Landlocked Country

Quest Journal of Management and Social Sciences ◽

10.3126/qjmss.v2i1.29026 ◽

2020 ◽

Vol 2 (1) ◽

pp. 106-115

Author(s):

Tilak Singh Mahara

Keyword(s):

Economic Growth ◽

Money Supply ◽

Correction Term ◽

Policy Instruments ◽

Special Role ◽

Real Gdp ◽

Long Run ◽

Ardl Approach ◽

Short Run ◽

The Impact

Background: There is special role of money in the economy due to its astonishing importance as change in the amount of it can have a significant effect on the major macroeconomic variables. Money supply is generally considered as policy-determined phenomenon. Like in all the nations, macroeconomic stability of Nepal also depends on the variation in the quantity of money. Objective: The principle objective of the study is to examine the impact of money supply on the economic growth of Nepal. Methodology: This study applies the ARDL approach to cointegration. Bounds test (F-version) has been carried out to determine the existence of long-run relationship between variables. Results: The empirical results pointed out that there is positive and significant long-term relationship between money supply and real economic growth in Nepal. Causality result reveals that there is unidirectional causality from money supply (M2) to Real GDP. The error correction term is found negative and statistically significant suggesting a correction of short-run disequilibrium within two and a half years. Conclusions: The study concludes that increase in the money supply helps to increase the real economic growth in Nepal. So, money supply and real GDP are associated in the long-run. Implications: The implication of the study is that, real economic growth in Nepal can be achieved if Nepal Rastra Bank emphasized on monetary policy instruments which help to increase the flow of money supply both in the short and long run.

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Argentina, Chile, and Mexico: Contrasts in Economic Policy and Performance

Journal of Inter-American Studies ◽

10.2307/165078 ◽

1961 ◽

Vol 3 (4) ◽

pp. 497-508 ◽

Cited By ~ 1

Author(s):

Eric N. Baklanoff

Keyword(s):

Economic Growth ◽

Economic Policy ◽

Developed Countries ◽

Economic Thought ◽

Development Programs ◽

Policy Makers ◽

Economic Progress ◽

The People ◽

Agents Of Change ◽

And Performance

For more than a decade, enormous attention has been given by academic economists, researchers, and policy makers to the problem of economic growth of the less-developed countries. The aspirations of leaders and the people of these countries for accelerated economic progress which has been characterized by the apt phrases the “revolution of rising expectations,” and the “New Awakening,” have played a major role in this new orientation in economic thought and action. Another interesting fact is that governments have emerged as consciously active “agents of change” carrying a heavy responsibüity for the success or failure of development programs.

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Respons Of Islamic Stock Markets To Monetary Policy Empirical Evidence from Indonesia

AL-ARBAH: Journal of Islamic Finance and Banking ◽

10.21580/al-arbah.2019.1.1.4437 ◽

2019 ◽

Vol 1 (1) ◽

pp. 35-46

Author(s):

Muhammad Rasyidin ◽

Zunaidah Sulong

Keyword(s):

Economic Growth ◽

Monetary Policy ◽

Stock Market ◽

Significant Relationship ◽

Policy Instruments ◽

Capital Formation ◽

Alternative Source ◽

Market Strategy ◽

Long Run ◽

The Impact

AbstractPurpose - The impact of stock market and capital formation on economic growth in Indonesia for the period of January 2015 – May 2019. This paper examines a long-run equilibrium relation between stock market, capital formation and economic growth and other control variables.Method - This study uses autoregressive distributed lag (ARDL) model.Result - Findings revealed that none of the models was stationary at level but were all stationary at first difference. There is not a short run significant relationship between stock market, capital formation and economic growth in Indonesia. In the long run, capital formation has a significant positive association on economic growth and a negative non-significant relationship between stock market and economic growth in Indonesia.Implication - This research is useful to know the response of Sharia market to monetary policy instruments in Indonesia so that the Sharia stock market strategy is potentially developing in the future to encourage the achievement of characteristics such as An alternative source of financing and investment for economic actors and able to facilitate risk mitigation needs for market participants and able to drive the efficiency of transactions in the market through the improvement of the quality of stock market infrastructure Sharia. Originality - The update of this research is response of Sharia stock market response to monetary policy instruments in Indonesia that are researched using ARDL models.

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Conditional Efficiency of Official Development Assistance (ODA) on Economic Growth in Sub-Saharan Africa

IRA-International Journal of Management & Social Sciences (ISSN 2455-2267) ◽

10.21013/jmss.v16.n1.p1 ◽

2020 ◽

Vol 16 (1) ◽

pp. 1

Author(s):

Ladifatou GACHILI NDI GBAMBIE ◽

Ousseni MONGBET

Keyword(s):

Economic Growth ◽

Economic Policy ◽

Negative Impact ◽

Social Situation ◽

Sub Saharan Africa ◽

Method Of Moment ◽

Sub Saharan ◽

The Impact ◽

Ssa Countries

Sub-Saharan Africa (SSA) countries have benefited for more than fifty years from international aid in the form of loans and/or donations. Nevertheless, they seem not to benefit from these massive financial resources (ODA) they receive because their economic and social situation is not very good. This study aims to assess the impact of ODA on economic growth in SSA and to see if its effect on growth is conditioned by the quality of the economic policy. The estimates are conducted on a dynamic panel of twenty-three SSA countries running from 1985 to 2014. With macroeconomic data from the World Bank's CD-ROM (World Development Indicators, 2015), the Generalized Method of Moment (GMM) system from Blundel and Bond (1998) was used. The results show that the impact of ODA on growth is not significant. Subsequently, when squared aid (ODA2) is included in the estimate, ODA becomes significant, meaning that a substantial amount of assistance is required to be effective in raising the economic growth rate of the SSA countries. In addition, the effectiveness of ODA is conditioned by the quality of the economic policy. This seems to be bad in SSA, hence the negative impact of the aid on economic growth.

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Respons Of Islamic Stock Markets To Monetary Policy Empirical Evidence from Indonesia

AL-ARBAH: Journal of Islamic Finance and Banking ◽

10.21580/al-arbah.v1i1.4437 ◽

2019 ◽

Vol 1 (1) ◽

pp. 35

Author(s):

Muhammad Rasyidin ◽

Zunaidah Sulong

Keyword(s):

Economic Growth ◽

Monetary Policy ◽

Stock Market ◽

Significant Relationship ◽

Policy Instruments ◽

Capital Formation ◽

Alternative Source ◽

Market Strategy ◽

Long Run ◽

The Impact

AbstractPurpose - The impact of stock market and capital formation on economic growth in Indonesia for the period of January 2015 – May 2019. This paper examines a long-run equilibrium relation between stock market, capital formation and economic growth and other control variables.Method - This study uses autoregressive distributed lag (ARDL) model.Result - Findings revealed that none of the models was stationary at level but were all stationary at first difference. There is not a short run significant relationship between stock market, capital formation and economic growth in Indonesia. In the long run, capital formation has a significant positive association on economic growth and a negative non-significant relationship between stock market and economic growth in Indonesia.Implication - This research is useful to know the response of Sharia market to monetary policy instruments in Indonesia so that the Sharia stock market strategy is potentially developing in the future to encourage the achievement of characteristics such as An alternative source of financing and investment for economic actors and able to facilitate risk mitigation needs for market participants and able to drive the efficiency of transactions in the market through the improvement of the quality of stock market infrastructure Sharia. Originality - The update of this research is response of Sharia stock market response to monetary policy instruments in Indonesia that are researched using ARDL models.

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