Strengthening the role of public governance approaches to ensure sustainable economic growth

The COVID-19 pandemic has formed a fundamentally new environment in both the global and Russian economies. The scale of problems that countries have to deal with significantly enhances the role of the state in the functioning of the economy and requires active government intervention to stabilize th...

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Autores principales:	Mikhail V. Ershov, Anna S. Tanasova, Elena Yu. Sokolova
Formato:	article
Lenguaje:	RU
Publicado:	Ural State University of Economics 2021
Materias:	Business HF5001-6182 Finance HG1-9999
Acceso en línea:	https://doaj.org/article/266449ce87654d4eb81fd7fd7cb9bff6
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spelling	oai:doaj.org-article:266449ce87654d4eb81fd7fd7cb9bff62021-12-02T12:00:10ZStrengthening the role of public governance approaches to ensure sustainable economic growth10.29141/2218-5003-2020-11-6-22218-5003https://doaj.org/article/266449ce87654d4eb81fd7fd7cb9bff62021-01-01T00:00:00Zhttp://upravlenets.usue.ru/ru/-2020/711https://doaj.org/toc/2218-5003The COVID-19 pandemic has formed a fundamentally new environment in both the global and Russian economies. The scale of problems that countries have to deal with significantly enhances the role of the state in the functioning of the economy and requires active government intervention to stabilize the situation and overcome the crisis. The article analyzes the role of state regulation and monetary authorities in the crisis environment in Russian and global economies. Methodologically, the study relies on the theory of institutionalism, Keynesian and neo-Keynesian economics, monetarism and industrialization. Qualitative methods of analysis, as well as retrospective and system-based methods and cross-country comparisons are applied in the research. The authors emphasize that the quality of these interventions is becoming increasingly important. In the Russian Federation, the economic situation is aggravated by the pre-existing problems, such as low business activity. We analyze the measures to support the Russian economy that are aimed, among other things, at the formation of long-term structural changes. Despite the fact that the introduction of the government approaches to counteract the crisis in 2020 will help to mitigate the current acute situation, they will not be able to lay solid foundations for further sustainable economic growth, since system-based mechanisms are still not provided for forming long-term affordable financial resources that are necessary for investment. The paper develops concrete approaches for providing the economy with long-term money, which embrace the formation of the resources on an internal basis amid the interaction of the Central Bank and the Ministry of Finance. We stress the powerful role of mechanisms for government departments’ coordination.Mikhail V. ErshovAnna S. TanasovaElena Yu. SokolovaUral State University of EconomicsarticleBusinessHF5001-6182FinanceHG1-9999RUУправленец, Vol 11, Iss 6, Pp 15-27 (2021)
institution	DOAJ
collection	DOAJ
language	RU
topic	Business HF5001-6182 Finance HG1-9999
spellingShingle	Business HF5001-6182 Finance HG1-9999 Mikhail V. Ershov Anna S. Tanasova Elena Yu. Sokolova Strengthening the role of public governance approaches to ensure sustainable economic growth
description	The COVID-19 pandemic has formed a fundamentally new environment in both the global and Russian economies. The scale of problems that countries have to deal with significantly enhances the role of the state in the functioning of the economy and requires active government intervention to stabilize the situation and overcome the crisis. The article analyzes the role of state regulation and monetary authorities in the crisis environment in Russian and global economies. Methodologically, the study relies on the theory of institutionalism, Keynesian and neo-Keynesian economics, monetarism and industrialization. Qualitative methods of analysis, as well as retrospective and system-based methods and cross-country comparisons are applied in the research. The authors emphasize that the quality of these interventions is becoming increasingly important. In the Russian Federation, the economic situation is aggravated by the pre-existing problems, such as low business activity. We analyze the measures to support the Russian economy that are aimed, among other things, at the formation of long-term structural changes. Despite the fact that the introduction of the government approaches to counteract the crisis in 2020 will help to mitigate the current acute situation, they will not be able to lay solid foundations for further sustainable economic growth, since system-based mechanisms are still not provided for forming long-term affordable financial resources that are necessary for investment. The paper develops concrete approaches for providing the economy with long-term money, which embrace the formation of the resources on an internal basis amid the interaction of the Central Bank and the Ministry of Finance. We stress the powerful role of mechanisms for government departments’ coordination.
format	article
author	Mikhail V. Ershov Anna S. Tanasova Elena Yu. Sokolova
author_facet	Mikhail V. Ershov Anna S. Tanasova Elena Yu. Sokolova
author_sort	Mikhail V. Ershov
title	Strengthening the role of public governance approaches to ensure sustainable economic growth
title_short	Strengthening the role of public governance approaches to ensure sustainable economic growth
title_full	Strengthening the role of public governance approaches to ensure sustainable economic growth
title_fullStr	Strengthening the role of public governance approaches to ensure sustainable economic growth
title_full_unstemmed	Strengthening the role of public governance approaches to ensure sustainable economic growth
title_sort	strengthening the role of public governance approaches to ensure sustainable economic growth
publisher	Ural State University of Economics
publishDate	2021
url	https://doaj.org/article/266449ce87654d4eb81fd7fd7cb9bff6
work_keys_str_mv	AT mikhailvershov strengtheningtheroleofpublicgovernanceapproachestoensuresustainableeconomicgrowth AT annastanasova strengtheningtheroleofpublicgovernanceapproachestoensuresustainableeconomicgrowth AT elenayusokolova strengtheningtheroleofpublicgovernanceapproachestoensuresustainableeconomicgrowth
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Strengthening the role of public governance approaches to ensure sustainable economic growth

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