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Systemic Economic Problems and Effective Mechanisms for Achieving Financial Productivity

https://doi.org/10.33293/1609-1442-2019-4(87)-53-69

Abstract

At present, when changes in all areas are accelerated, the effective innovative development of the national economy requires the use of innovative mechanisms for managing the economies of industries and regions that contribute to an increase in the rate of economic growth. It is important to understand and use the mutual influence of industries on each other and on overall development in order to create an integrated mechanism for ensuring the productivity of the economy, limiting the growth of prices and the interest of industries in reducing costs and prices for their products. A necessary condition for the stability of the economy is financial productivity, i.e. the exclusion of price increases, since even their growth in products of at least one sector of the economy (especially systemically important), causes an avalanche-like, uncontrolled rise in prices in other sectors. The objectives of this article were to consider precisely these issues and reflect the results of scientific research in this direction. The methods of system analysis, economic and mathematical modeling, the concept of managing the financial productivity of the economy based on research and analysis of inter-industry relations are used. The article examines the systemic problems of a developing economy (raw material orientation), analyzes the state and potential of the regional economies, their contribution to the development of the national economy, examines and analyzes the model of financial productivity using the two-sector model of Kazakhstan's intersectoral balance, proposes control mechanisms for achieving financial productivity: cost-effective mechanisms pricing and taxation; It is shown that their use leads to the interest of industries in lowering costs and prices for products of industries. Recommendations on the use of the considered models are formulated.

About the Author

Mafura K. Uandykova
University “Narhoz”, Department “Technology and Ecology”, Almaty, Republic of Kazakhstan; Financial University under the Government of the Russian Federation, Moscow
Russian Federation

PhD in Economics, Associate Professor,
Professor, Narxoz University, Department of Technology and Ecology
Almaty, Republic of Kazakhstan
doctoral student Financial University under the Government of the Russian Federation



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Uandykova M.K. Systemic Economic Problems and Effective Mechanisms for Achieving Financial Productivity. Economics of Contemporary Russia. 2019;(4):53-69. (In Russ.) https://doi.org/10.33293/1609-1442-2019-4(87)-53-69

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