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A penny is a loan - Savluk M.I.


The penny-credit policy of Ukraine during the period has gone through a folding, zvyvisty hat for development, but it’s just that it’s still in retail 4. It’s very understandable to understand the nature of the state of the economy so that it can be redeemed in principle.

At first it’s (1991-1994 pp.) Go to the next day to get economic policy in Ukraine Malaysian Keynesian offensively. On the whole, it’s the most important role that the own structures have taken to take advantage of the economic riches in the stream, as well as the short-cut ones, in general, they are mainly recognized in the main half of the social period. Dovgostrokovі, strategic values ​​(stable price, macroeconomic stability, security of economic growth, small workloads) were given a different plan. Navigate to the market economy and the need for market research methods, vouch for the strategic strategy, often do not go wrong when you take tactful decisions. It appeared in the supramundane hand-made bodies of the sovereign government in state processes, in the overwhelmingly “manual” control of specific economical orders, it’s important to remember that there is no need to forget about the fact that you don’t have to pay a separate call. Such pidkhid zoom

Having peered at the overwhelming recession of market reforms in Ukraine, having hidden the crumbling economic crisis.

At all times, the role of that power of the state in the regulated economy was clearly and perceived; Oskilki such a method of managing the economy in new minds did not hide, economically living in the country appeared to be unbroken and opined at the time of folding campus: the markets are unbalanced, the budget is unavailable

Keynesian pidkhid manifested itself also when placed before the inflation. The inflation threat was clearly underestimated. The issue of pennies was widely vikoristovuvalas for financing all the exact needs, as they did not blame on the sovereign budget, and that to cover the budget deficit.

In the case of the Keynesian bank account and the specific approach, enter the monetary policy - a fix of the exchange rate exchange in 1993-1994, the higher administrative rate of the bank - the most frequent loan provision credit stelae, obmezhennya access to banks to centralized credit resources tosho).

Z 1994 p. in the economic polity of the world, in particular in the monetary sphere, and itself:

* in the foreign economic policy of swearing a course towards macroeconomic stability, towards accelerated market reforms and the form of market mechanism of economy;

* fiscal and budgetary polices have come to know for needing to reorient themselves on the basis of budget deficit and weakening of deficit financial savings, reduction in the amount of money and the transfer of submission of state donations;

* the penny-and-credit policy has taken the course for a longer period of inflation, liberalization of the credit and currency markets, the form of the budget, the budget and the budget and the budget

We’ve gained more money through the monetarist approach, lower than the Keynesian one. I’ve got a simple passport showing me how to get to the end of the list I’ve finally reached a stunned course less than the monetary reserve of Ukraine, which will be transferred to the NBU. The foreign economy and the fiscal-budgetary suttvih zmіn have the most powerful ambushes of market self-regulation not vidbulos.

That’s why you need to respect, but on the other, a different period, having started since 1994, the economic policy in Ukraine was carried out on dual ambushes - the real economy and the fiscal and budget sphere were more підходів. Such dualism has negatively impacted the economy of transformation of economy, the macroeconomic stability of the sovereign finances, having swallowed the price span between the real economy and the penny-credit. Adzhe mechanism of market self-regulation of economy as I can not change the minds of the monetarist ideas of a penny-credit regulation, without having done. The price has underestimated the effectiveness of the anti-inflationary policy, and has negatively overshadowed the positive positive influence over the monetary sphere.

The organization of pennile-credit policies in Ukraine based on the monetary approach of economic regulation manifested itself in the baggage of diets and loans of the National Bank. From now on, we will move to a fierce pennant-credit policy and the policy of Russia to regulate a penny in turn, in turn, to the dynamics of the oversight of GDP. It’s not sound, I can’t say anything about the NBU’s penny of the “penny rule” M. Fridman, for whom there weren’t even enough change of mind, protec- tion of the dynamics of the proposition of pennies for the dynamics of the GDP to achieve a clear account of the benefits.

Yak adequacy monetaristskіy kontseptsії mozhna otsіniti poslіdovnu orієntatsіyu NBU been approved, svoєї samostіynostі in provedennі monetarnoї polіtiki, zberezhennya Nezalezhnosti od organіv vikonavchoї Vlady, i lіberalіzatsіyu credit currency rinkіv, zaprovadzhennya regime plavayuchogo exchange rate, market analysis rozvitok tsіnnih paperіv on posilennya rolі Sotho ekonomіchnih іnstrumentіv groshovo- credit regulation skinny. The positive side effects of such NBU policy were:

* step-by-step (1994-1995 pp. prolongation) lowering the inflation rate from the first-highest (10,260% in 1993 p.) to the dying (139% in 1996 p.) pryvnya;

* remember stability of the exchange rate of the hryvnia;

* Formulated by the authority of the NBU as a monetary authority of the middle of Ukrainian and international banks and financial institutions;

* asserting the independent status of the NBU mid-state authorities in the state economy.

Shchob realizuvati tsi-- access in the pennile-credit sphere and to inform the economy in the future, to speed up speedily the form of the market mechanism of the economy of Ukraine. You can increase the price for understanding that the effectiveness of the monetarist ideas can not be missed by the penniless sphere, and it will appear in the realm of economy. And also more effectively, by the way, a recommending representative in both straightforward monetarist theories that can be formed in ambushes of Keynesian-neoclassical synthesis.


1. Kіlkіsna teorіya pennies - tse not yakas okrema kontseptsіya and zagalnometodologіchny pіdhіd in ekonomіchnіy teorії, zgіdno of Yakima groshі vplivayut on ekonomіku lishe svoєyu kіlkіstyu i to funktsіonuvannya ekonomіchnih systems vivchaєtsya in vzaєmozv'yazku Zi zmіnoyu masi pennies in oborotі (kіlkіsnim factor).

2. It is true that, as the beneficiaries of the theory of theory, explain the mechanism of adding money to the real economy, we can see the difference:

* Classical theory;

* neoclassical theory;

* Keynesian straight;

* Monetarism today;

* Keynesian-monetar synthesis.

3. Klasichna kіlkіsna the theory of groschen zmіnu price I will explain ше more zmіnoy kilkostі pennies to obigu. When there is an infusion of kilkosti pennies on price є non-inferior, directly proportional to and ignoring, but the same way for all goods. Mechanism itself will fill in the number of pennies for the price and the hedging of the price for the sphere of virology, which is not theory.

4. The inconsistency of the neoclassical theory of the pennies of the pole is that, by the way, by the way, the mechanics are filled in by the price, and the price is by the way, the visibility, which is not directly proportional to the number of hours, vid bagatokhnikov, yakі guilty of a frailty with detailed recommendations for the practice of penniless credit regulation.

5. The Keynesian direct principle of big pennies is especially special, since it is not fundamentally important for the official to be valued for the real reason, it is based on the main mechanism. J. M. Keynes vihodiv s of scho rinkovіy ekonomіtsі vnutrіshno vlastiva rozba-lansovanіst that nerіvnomіrnіst (tsiklіchnіst) vіdtvoryuvalnogo Process, yaky zumovlyuє nizku efektivnіst monetary faktorіv ekonomіchnogo regulyuvannya, Especially on short hours іntervalah, i vimagaє bіlsh direct vtruchannya i bearing-down power in ekonomіchnі process, secrecy through the mechanism of fiscal and budgetary policies. For the mechanism itself, I’m infusing the factor on Keynes’s economy at the first place not putting the price but the dynamics of the interest rate and the obligations for it to invest.

6. Representatives of ordinary monetarism introduced the key to the idea of ​​classic theory about the effectiveness of the market economy before self-regulation and at the center of respect, they put a new official and monetary policy in the center of respect. In the "transfer mechanism", the influx of pennies on the economy of the stink turned to a direct link between the number of pennies and the price and specificity of the mechanism of concrete through the payoff and the proposition of the penny asset and the structure. Practical recommendations for regular monetarism start before

* carried out hard monetary policy, the basis of which is the next brother is formulated by M. Fridman "penny rule";

* maximum obmezhzhennya direct, administrative power of the state in the process of suspension, liberalization, price, priority.

7. Zagalnoekonomichna that penny-credit policy, which was carried out in Ukraine in the interim period, progressively transformed from the essence of the Keynesian direct to the monetized and Keynesian-monetary synthesis. At the first stage (1991-1994 pp.), The mood for underperformance of pennies and monetary policy, the priority of direct sovereign regulation of the economy, and the excess of the value of the fiscal-budgetary policy were leaned against. On the other hand, it’s (1994-2000 pp.) A higher rate of acceleration in the form of market mechanisms, the implementation of hard anti-inflation policies, the stimulation of sustainable development, and the increase in the amount of regular taxation. The reorientation is adequate to the ideas of ordinary monetarism. The proto-bolshen-mensh, last and foremost, has been sold less than in the sphere of monetary policy.

Self-control power

1. What are the main provisions of the monetarist theory of pennies, for whom is the principle of abstract pennies?

2. Who has the daylight of the theory of pennies and the internal economy of the theory of nomination? Yaki straight to the big pennies theories Have you forgotten?

3. What are the social and economic benefits in the history of Europe? Have they served as the basis for formulating the ideological theory of pennies?

4. Whom do you reckon with the basic tenets of the classic theory of pennies?

5. What is the reason for the day-to-day "reckoning about" and who formulated it? Why do you want to get involved in the most beautiful and the best of the biggest pennies?

6. Up to a certain level of theory, it is possible to introduce an American economist I. Fishera and why?

7. What is the new theory of the theory of Ukraine Ukrainian economist M. Tugan-Baranovsky?

8. What kind of new direct is it for the monetarist theory to catch M. Tugan-Baranovsky? Yak calling vin his penny theory?

9. Chim vidrіznіvsya pіdhіd "Cambridge Schools" to the analysis of the kіlkіsnogo factor vіd classical kіlkіsіnі theory І. Fishera?

10. Who got the principles of Keynesian approach to the implementation of monetary mechanism of economic regulation of representative school representatives?

11. Is it possible to formalize the “front mechanism” by pouring pennies into the real economy into the Keynesian interpretation, in which is the novelty and the shortcomings?

12. Why is the Keynesian Doctrine of the Matter of Internal Inflation Indirect?

13. What was the key to the social and economic life of Europe spoken by the appearance of Keynesianism and the easiest relaxation?

14. What is the reason for the advancement to economic regulation of the representative of monetarism for the advancement of keynes?

15. What is the “penny rule" of M. Fridman?

16. What is the reason for the appearance of the doctrine of “monetarism right now”?

17. Who has a closer approach to monetarists and keynesians and what kind of synthesis is possible with the best practice of economic regulation?

18. At what level of transition is economic and monetary policy in Ukraine more prominent than the canons of the Keynesian concept and the canons of the monetarist concept? Whom did the manifestation of occurrence of?