Management of macroeconomic development. Structural approach and feedback
Abstract
The purpose of the study is to demonstrate the management issues at the macroeconomic level, the solution of which is proposed on the basis of a structural approach taking into account feedbacks as applied to the Russian economy. The “Covid” world economic crisis has had a strong impact on the development of many countries, providing a decline in GDP and the level of welfare of the population. It had a completely different cause than the previous financial and economic crises, spreading its influence into the institutional field, significantly transforming the rules of behavior of economic agents.
The methodological basis for the research is the theory of technological structures, the theory of the systems management, empirical and structural analysis of economic changes, regressive analysis based on the Gretl2020b software module. As the main result, it was concluded that the formation of a new growth model for the Russian economy may adversely affect the achievement of other important development goals, manifesting in the poverty and inequality level. The matter is that it is not growth itself that conflicts with those goals, but the mode of economic dynamics, that is, the magnitude of the growth rate. Though such a conflict developed before the “Covid” crisis, but it may well have a negative impact on social indicators of the development. The reason is seen in the following: the existing economic structure will be able to create high dynamics only due to a certain combination of factors and conditions, giving rise to a development model when a high growth rate is combined with an increase in the inequality or poverty. Therefore, the formulation of the structural development tasks in the form of stimulating the fifth and sixth technological modes involves taking into account the feedback not only with growth, but also with other goals of economic development.
Thus, structural and institutional factors of growth are the central instruments for influencing economic dynamics. The prospect for the study is the task of finding out the influence weight of those instruments in relation to the classical monetary and fiscal policy.
About the Author
O. S. Sukharev
Russian Academy of Sciences Institute of Economics
Russian Federation
Russian Federation
Oleg S. Sukharev, Dr. of Sci. (Economics), professor
bld. 32, Nakhimovskii Avenue, Moscow
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Review
For citations:
Sukharev O.S. Management of macroeconomic development. Structural approach and feedback. Science and art of management. 2021;(1):10-28. (In Russ.)
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