Economic Growth of Rapidly Changing Economy. Development Strategy

#6. Forecasts and Results
Economic Growth of Rapidly Changing Economy. Development Strategy

The article dwells on the problem of economic growth organization in the world economic system, as well as the question of implementing the catch-up and outstripping development strategies for countries lagging behind in development. The author gives a simple model of the system economic growth and demonstrates the major factors determining the development strategy. The author substantiates an adequate strategy of advanced development in Russia, taking into account global changes, structural changes, technological regimes (trajectories) of development, carries out an empirical analysis of economic growth results from 1961 to 2012 inclusive. The idea of the factor productivity evaluation is fundamental in the framework of modern theories of economic growth. Yet the structural parameters of the economic system, institutions and technological changes, though the latter are reflected in the changing parameters of the production function, practically are not taken into account in the framework of the known approaches. However, the ratio of structural elements, on the one hand, defines the future value of an aggregated factors productivity, and on the other — has a strong effect on the rate of economic growth and on the mode of its innovative dynamics. Introduction of the economic system’s structural parameters into growth models with the possibility to evaluate such regimes in terms of interaction of old and new combinations represents a significant step in evolution of the economic growth (development) theory. It allows to form a policy of stimulating economic growth based on structural relations and ties, identified for this economic system. It is most convenient in obtaining such models to take advantage of logistics functions, representing a resource modification for the old and the new combinations within the economic system. Result of the economy development depends on the initial conditions, as well as on the institutional parameters of changes in the resource borrowing rates in favor of a new combination and creating its proper resource. Resource formalization in a model is carried out through the idea of investing into new and old combinations.

Economic Growth of Rapidly Changing Economy. Development Strategy

#4. Window of Opportunities
Economic Growth of Rapidly Changing Economy. Development Strategy

The article dwells on the problem of economic growth organization in the world economic system, as well as the question of implementing the catch-up and outstripping development strategies for countries lagging behind in development. The author gives a simple model of the system economic growth and demonstrates the major factors determining the development strategy. The author substantiates an adequate strategy of advanced development in Russia, taking into account global changes, structural changes, technological regimes (trajectories) of development, carries out an empirical analysis of economic growth results from 1961 to 2012 inclusive. The idea of the factor productivity evaluation is fundamental in the framework of modern theories of economic growth. Yet the structural parameters of the economic system, institutions and technological changes, though the latter are reflected in the changing parameters of the production function, practically are not taken into account in the framework of the known approaches. However, the ratio of structural elements, on the one hand, defines the future value of an aggregated factors productivity, and on the other — has a strong effect on the rate of economic growth and on the mode of its innovative dynamics. Introduction of the economic system’s structural parameters into growth models with the possibility to evaluate such regimes in terms of interaction of old and new combinations represents a significant step in evolution of the economic growth (development) theory. It allows to form a policy of stimulating economic growth based on structural relations and ties, identified for this economic system. It is most convenient in obtaining such models to take advantage of logistics functions, representing a resource modification for the old and the new combinations within the economic system. Result of the economy development depends on the initial conditions, as well as on the institutional parameters of changes in the resource borrowing rates in favor of a new combination and creating its proper resource. Resource formalization in a model is carried out through the idea of investing into new and old combinations.

Public Investments Impact on Economic Development

#9. Preserving humanness
Public Investments Impact on Economic Development

Increasing public investment in the Russian Federation to facilitate economic growth in the current situation is impossible, therefore the problem of improving their efficiency becomes increasingly important. The above issue has become the subject of many studies showing that public investments effectiveness varies considerably from country to country. It is affected by various factors: structural changes in the economy, sectoral funding distribution, applied mechanisms of planning, management and stimulation. Moreover, analyzing some countries’ experience of economic growth stimulation through public investment it is necessary to take into account their economic and historical situation, the resource base, as well as political attitudes. According to the theory, public investments do not always contribute to the economy dynamic development. At the same time, empirical studies prove that public capital invested in such sectors as transport, communication and education is effective as a whole. An important task is the analysis of mechanisms of priority investment projects state support, existing in the world practice, and their revision with regard to conditions and needs of the Russian Federation.

About Small Pearls and Liquid Soup

#2. Liberal Indolence Inertia
About Small Pearls and Liquid Soup

The inequality problem is one of the key problems of the economic theory in XX-XXI centuries as according to most researchers’ estimates the impact potential of this phenomenon on the key economic indicators is very high. Inequality is caused by a lot of factors, ranging from biological ones. The article attempts to review the latest research of the inequality phenomenon in its various aspects and to assess its potential impact on the present-day Russia’s development.

On Socio-Economic Strategy of Qatar at the Beginning of the XXI Century

#5. Space Like a Punishment
On Socio-Economic Strategy of Qatar at the Beginning of the XXI Century

Emirate of Qatar, small in area and population, being a coastal state of the Persian Gulf, from year to year is demonstrating dynamic economic growth thanks to constantly growing income from hydrocarbon exports. According to experts of the British audit firm Ernst&Young and the Oxford Economics Institute, Qatar has topped the rating of the fastest growing markets in 2000-2010. The author particularly analyzes dynamics of the main socio-economic indicators of the country during the 2000s and also describes important provisions of the national government programs for medium and long-term periods. The study presents conclusions regarding the present situation and prospects of emirate’s economic development in the future.

Forming Current Macroeconomic Policies Subject to Expectations (by the Example of the U.S. Federal Reserve System)

#2. The Ice Age

The crisis has shown that government together with the central bank can secure financial market stabilization by allocating additional funds to credit institutions for increasing risk reserves and mitigating effects of “toxic” assets accumulation.

World Energy Sector — Objective Laws of Global Development

#12. Everything will be OK

This transition process will last almost till the end of the ХХI century and will be connected with elimination of one of the energy resources — oil or coal — out of the energy turnover