On Financial Mechanisms of Economic Growth

Mikhail Ershov

Voprosy Ekonomiki, 2002, vol. 12

Abstract: The financial mechanisms that are necessary to sustain economic growth are reviewed in the article. The experience of the developed countries shows that the budgetary mechanisms are the prime source of the "money-creation" and national monetary authorities play a major role in this system. The need for active budgetary, monetary and foreign exchange policy aimed at providing stable economic growth is emphasized.

Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:2002-12-1

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