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Impact of Fiscal, Monetary and Structural Economic Policies on the Growth Rates of Leading Economies: 2000-2016

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Listed:
  • V. Ponkratov
  • A. Karaev
  • S. Solyannikova
  • O. Gorlova
  • D. Smirnov
  • O. Makashina

Abstract

The article analyzes the impact of measures and instruments of fiscal, monetary, and structural economic policies on the growth rates of the economies of many countries around the world from 2000 to 2016, considering the provisions of the structural theory of development. The dynamics of the following indicators of national economies is analyzed: GDP growth rate; total tax rate, central government debt; domestic credit to the private sector; consumer price inflation; high-tech exports as a share of country industrial exports and in value terms. It was revealed that for balanced long-term growth of the economy, it is necessary that the structure of the national economy should include industries whose exported goods are characterized by high elasticity of demand, and goods imported by low elasticity of demand. Selective tools of state stimulating economic policy should be aimed at industries that can generate innovations and promote the dissemination of the results of technological progress.

Suggested Citation

  • V. Ponkratov & A. Karaev & S. Solyannikova & O. Gorlova & D. Smirnov & O. Makashina, 2018. "Impact of Fiscal, Monetary and Structural Economic Policies on the Growth Rates of Leading Economies: 2000-2016," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 3), pages 333-343.
    • Handle: RePEc:ers:journl:v:xxi:y:2018:i:special3:p:333-343
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    References listed on IDEAS

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    More about this item

    Keywords

    Rates and factors of economic growth; the impact of state economic policies on the growth rate of the national economy; fiscal policy; monetary policy; structural policy.;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • H30 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - General
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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