Authors: O.G. Aleshina

Title of the article: External and internal shocks in the economy: a review of approaches

Year: 2022, Issue: 2, Pages: 39-60

Branch of knowledge: 5.2.1 Economics

Index UDK: 330.133

DOI: 10.26730/2587-5574-2022-2-39-60

Abstract: The article presents an overview of approaches to the study of economic shocks – the definition of their nature and sources, forms of manifestation, classification and transmission mechanisms in the industrial and financial sectors of the economy. The following principles served as the methodology of research: dialectical substantiation of the integrity of economic systems, univer-sality of relations between economic entities, determinism of the dynamics of the economy by the features of its structure, structural absorption of shock impulses, the relationship of external and internal economic shocks. In the course of analyzing the works of a significant number of Russian and foreign authors in the field of theoretical studies of economic shocks, a transition was made from their essential definitions as a macroeconomic phenomenon to the identification of types and forms of manifestation. Particular attention in this article was given to technological shocks as the most debatable aspect of the impact of exogenous impulses on economic cycles. As a result of the analysis of scientific approaches, a conclusion was made about the dialectical connection between external and internal shocks, as well as the dual nature of exogenous and endogenous shocks. This, in turn, predetermines the appeal to structural changes in the economy as a mechanism of protection against various shocks.

Key words: economic shocks economic cycles macroeconomics methodology structural shifts

Receiving date: 24.06.2022

Approval date: 25.07.2022

Publication date: 29.09.2022

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