Authors: Zhavoronok A.V., Gasanov M.A.

Title of the article: Structural Shifts and Macroeconomic Dynamics from Factor Efficiency Point of View

Year: 2021, Issue: 3, Pages: 15-25

Branch of knowledge: 5.2.1 Economics

Index UDK: 330.33.01

DOI: 10.26730/2587-5574-2021-3-15-25

Abstract: Currently, the structure of the economy of most countries is going through the next stage of structural transformation caused by the growth in the efficiency of such factors of production as labor and funds, as a result of diffusion of the achievements of the Fourth Industrial Revolution – digitalization, technological convergence, in the economy. In the technological leading countries, structural shifts created the basis for sustainable economic growth in the long term, but cyclical fluctuations impose constraints on structural policies. In resource economies of the catching-up type, which includes the Russian economy, the cyclical constraints of structural policy are superimposed on a high susceptibility to external shocks, many of which are initiated by the actions of advanced countries (trade wars, sanctions). As a result, the problem of combining macroeconomic and structural policies, both at the level of theoretical generalizations and practical implementation, remains globally relevant. The possibility of synergy between countercyclical measures and positive structural shifts in achieving sustainable growth and macroeconomic stabilization is to stimulate the growth of factor efficiency by providing wide access to new technologies and sectoral diversification of investments at each phase of the business cycle.

Key words: government regulation of the economy state capitalism globalization transnational corporations economic nationalism

Receiving date: 05.09.2021

Approval date: 03.10.2021

Publication date: 17.12.2021

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