STRENGTHENING THE ROLE OF THE MARKET AND FURTHER DEVELOPMENT OF ACTIVE MACROECONOMIC POLICY

Mirjana Cocovic-Krstic

Economics of Agriculture, 2008, vol. 55, issue 4

Abstract: With radical changes of transition and globalization, the creation of an efficient system of economic activities has to be based on the market – oriented economy and adequate measures of economic policy. The strengthening and enlargement of the role of the market and economic laws becomes a need all the more as the market is the best factor of valuation of all values. Economy cannot show optimal economic results if it rests only on the market. It requires certain measures of macroeconomic policy in the filed of economic activities, employment, price stability, that is, inflation and problems regarding foreign economy. Of the same importance is the coordination and intergration of monetary-credit and fiscal policy (public revenue and tax policy). The instruments of economic policy, monetary and fiscal policy, are two economic disciplines, only two parts, two subsystems of the inique financial policy. Joint activity of montary and fiscal policy becomes a necessity – the law of modern finances. What is needed is that both policies are complementary and at the same time used with other partial policies in order to accomplish stability in the broadest sense of the word. With such radical changes, an economy under the globalisation conditions can be equal to contemporary production in the world.

Keywords: Agricultural and Food Policy; International Relations/Trade (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iepeoa:245373

DOI: 10.22004/ag.econ.245373

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