LIBERALIZATION OF MACROECONOMIC STABILIZATION POLICY: THE SWEDISH EXPERIENCE AND LESSONS FOR UKRAINE
Journal Title: Вісник Київського національного університету імені Тараса Шевченка. Економіка. - Year 2018, Vol 4, Issue 199
Abstract
In the decade from the early 1980s until the early 1990s, Sweden experienced the transition from a regulated to a fully deregulated economy, where most decisions are taken on the market. This transition included a number of errors that led to the financial crisis in the early 1990-ies with severe macroeconomic consequences. Sweden on the way to economic stability has gone through a comprehensive reform of the financial and banking sectors. Providing the floating exchange rate and the monetary policy liberalization in general, as well as building a clear fiscal system for income redistribution, Sweden has stabilized its economy and ensuring public confidence in the government's actions. Today the Swedish experience could be useful for other small open economies in the world that searches for its own ways to conduct macroeconomic stabilization policy, such as Ukraine. The fundamental step could be reducing the tax burden on the corporate sector in the context of optimization of budgetary processes in the economy. The main measures aimed at improving the process of balancing the state budget of Ukraine include: improving the legal and regulatory framework of the budget process, improving transfer policies, rejection of the scarce funding concept, implementation of a rigid budget funds austerity, etc.
Authors and Affiliations
Roman Kalinovskyi
Keywords
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- EP ID EP395291
- DOI 10.17721/1728-2667.2018/199-4/3
- Views 58
- Downloads 0
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