Conceptual approaches to economic growth: the need to transform national financial policy imperatives

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Turbulent global processes, driven by the slowdown in the economy growing, including developed countries, require further understanding of the role of financial factors, the heterogeneous impact of which is conditioned by the globalization of financial markets. The analysis of existing conceptual approaches to economic growth allows identifying bottlenecks of the national financial architecture and specifying positive aspects of successful development. The study proved the need to generalize the provisions of the Keynesian and neo-liberal theory (avoiding unipolar compositions financial architecture), supplementing them with recommendations for implementing financial dirigisme in the face of economic shocks. Given the need to transform national financial policies, the focus is on creating conditions for development of the real economy, as a main source of economic growth, through the government support.

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    • Figure 1. Залежність між державним боргом і приростом ВВП за вибіркою 22 країн
    • Figure 2. Залежність між державним боргом і приростом ВВП за вибіркою країн, що мають високе відношення державного боргу до ВВП і позитивні темпи економічного зростання