2014•RePEc: Research Papers in EconomicsOpen access

Financial policy of prevention and liquidation of consequences of global economic instability: foreign experience

Petrushevska Viktoriia V.

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Abstract

The article considers main measures of the financial policy realised in the countries of the world, in particular, Europe, USA, China and Japan, directed at prevention and liquidation of consequences of crisis phenomena of the world economy. It considers programmes of support of economy and financial sector of different countries adopted during the period of the world financial crisis of 2007 - 2009. It marks out that an important element of successful realisation of anti-crisis measures is a correct co-ordination of the budget and tax policy and money and loan policy. It positively marks out experience of application of active arbitrary stimulating policy under crisis conditions. In view of increase of efficiency of macro-economic management an important task of the future would be improvement of anti-crisis mechanisms with consideration of their influence upon short-term dynamics and long-term growth. The conducted analysis allows making a conclusion that mistakes of the financial policy are one of the main reasons of overheating the world economy, while analysis and use of experience of the leading countries of the world would allow increase of quality of the financial policy, directed at reduction of crisis vulnerability.

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The article considers main measures of the financial policy realised in the countries of the world, in particular, Europe, USA, China and Japan, directed at prevention and liquidation of consequences of crisis phenomena of the world economy. It considers programmes of support of economy and financial sector of different countries adopted during the period of the world financial crisis of 2007 - 2009. It marks out that an important element of successful realisation of anti-crisis measures is a correct co-ordination of the budget and tax policy and money and loan policy. It positively marks out experience of application of active arbitrary stimulating policy under crisis conditions. In view of increase of efficiency of macro-economic management an important task of the future would be improvement of anti-crisis mechanisms with consideration of their influence upon short-term dynamics and long-term growth. The conducted analysis allows making a conclusion that mistakes of the financial policy are one of the main reasons of overheating the world economy, while analysis and use of experience of the leading countries of the world would allow increase of quality of the financial policy, directed at reduction of crisis vulnerability.

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Available abstract

The article considers main measures of the financial policy realised in the countries of the world, in particular, Europe, USA, China and Japan, directed at prevention and liquidation of consequences of crisis phenomena of the world economy. It considers programmes of support of economy and financial sector of different countries adopted during the period of the world financial crisis of 2007 - 2009. It marks out that an important element of successful realisation of anti-crisis measures is a correct co-ordination of the budget and tax policy and money and loan policy. It positively marks out experience of application of active arbitrary stimulating policy under crisis conditions. In view of increase of efficiency of macro-economic management an important task of the future would be improvement of anti-crisis mechanisms with consideration of their influence upon short-term dynamics and long-term growth. The conducted analysis allows making a conclusion that mistakes of the financial policy are one of the main reasons of overheating the world economy, while analysis and use of experience of the leading countries of the world would allow increase of quality of the financial policy, directed at reduction of crisis vulnerability.

Key concepts: Financial crisis, Overheating (electricity), China, Economic policy, Loan, Economics, Finance, Business

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