AN EMPIRICAL EVIDENCE OF ECONOMIC RECOVERY DURING THE PANDEMIC PERIOD INTO WORLD ECONOMY

We are in the midst of an asymmetrical recovery. In some countries, COVID-19 infection rates have fallen significantly, while in others, the virus remains difficult to control. But whether governments are actively managing outbreaks or returning to normality, economic recovery is central to their forward-looking agenda without a broad-based economic expansion, it is difficult to address other challenges, such as education and healthcare.The International Monetary Fund(IMF) recently raised its projection for economic growth in 2021 to 6%, up from 5.5%, and projects 4.4% growth in 2022. The upgraded outlook is based on how well the pandemic continues to be controlled, the efficacy of fiscal policy in mitigating economic damage and global financial conditions. Although businesses are the engines of the economy, governments create the environment and structure that enable enterprise to flourish . How governments create and shape the environment for economic recovery—and the opportunities and challenges they face in doing so—will depend on two decisions they make about their approach.

The Birth of a Consumer Democracy

This chapter surveys housing and suburbanization, autos, and television as three vital engines that drove economic expansion and mass consumerism. It opens with a discussion of Chester Bowles, wartime head of the OPA, and his emphasis on housing and homebuilding as a key to future prosperity. Technological innovation, the productivity of American industry, and the prosperity that followed brought all the former privileges of the wealthy classes within reach of the rapidly expanding American middle class. These factors help explain why so many Americans look back with nostalgia on the postwar decades as “Happy Days.”

India’s foreign policy towards Central and Eastern Europe in 2014-2019

It has been said that Central and Eastern Europe can be seen as an interesting direction for Indian political and economic expansion. Both the data on diplomatic activity and India’s trade with the countries of CEE, however, prove that the region is not of key importance for New Delhi’s foreign policy. On the other hand, a steadily growing trade turnover allows assuming that the current situation will gradually change. The conclusions may be confirmed by the analysis of New Delhi’s diplomacy directions in the region. The Indian leaders (not the most important figures, taking into account symbolism and real significance) visited in the years 2014-2019 the CEE countries with the highest trade turnover with India, namely Poland, the Czech Republic, Hungary and Romania. They also paid visits to Bulgaria, Croatia and Serbia, that is countries with which India’s trade turnover is relatively low, but steadily growing. It may indicate a desire to establish more active diplomatic and economic involvement in this region than previously.

Determinants of Management of Central Bank to Provide the Economic Growth: an Application of Structural Equation Modeling

The country's domestic economic expansion is becoming increasingly important, especially in the context of the epidemic and financial crises, both within individual countries and the world. To provide this growth, it is relevant to the strategy of the central bank's activities for overcoming extern in the context of epidemical and internal threats with specific regulatory approaches and monetary instruments. The paper summarizes the arguments and counterarguments within the discussion of the question regarding the central bank's influence on the country's economic growth. The study's primary purpose is to determine the relationship between the indicators that characterize the central bank's activities and the country's economic development. The systematization of literary sources and approaches related to this issue confirms the mediated relationship between the activities of the central bank and the economic growth on a long-term basis. The relevance of this topic is closely connected with the changing role of the central bank and the expansion of its powers, tasks, responsibilities, and its place in the country's economy. This research's objective is the economies of the countries predominantly of the European Union, which has different levels of economic development. The structural modeling method is used in STATA 12.0 (based on data on 11 variables for the period of 1998-2016 for 24 countries). The results of the study confirm the correlation between the role of central banks and domestic economic expansion.