Machine-Building Complex

The intersectoral machine-building complex unites enterprises and production of mechanical engineering and metalworking (and in the conditions of Belarus includes metallurgy), aimed at meeting the needs of the national economy in the means of production, tools, and long-term consumption items. Since 1975, in terms of gross output, the cost of fixed production assets and the […]

General characteristics of the industry of the republic

Industry forms the basis of the economy of the republic. In 2003, it accounted for 34% of all fixed assets of the republic, 26% of gross domestic product production, 27% of those employed in the national economy [4, p.118]. In the period from 1991 to 1995, as a result of the crisis, there was a […]

Firm-line policies and arbitrary macroeconomic policies

The choice between active and passive macroeconomic policy models is not the same as the choice between “firm-course policies” and “freedom of action”. A coherent macroeconomic policy (“firm-course policy” or “playing by the rules”) implies an early choice of measures that can be taken in a particular situation and which predetermine the practical steps of […]

Problems of implementation of stabilization policy: active and passive policy of the state

Economic stabilization is associated with many practical difficulties. These include: a)  time lags of fiscal and monetary policy; b)  imperfection of economic information; c)  volatility of economic expectations; d)  ambiguity of historical analogies. The internal lag is the period of time between the moment of economic shock and the moment of taking economic policy response […]