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The Relationship of Economic Theory and Regional Economy

Journal: Quarterly Scientific Journal "Economic Herald of the Donbas" (Vol.40, No. 2)

Publication Date:

Authors : ;

Page : 29-38

Keywords : regional and municipal factors; macroeconomic models; types of systems of municipal management; ownership structure; the northern regions;

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In macroeconomic concepts and models emit 5 relationship a kinds of subjects: macropower, makropotrebitel, state, group of foreign actors and social institutions. However, apart from these business entities is advisable to allocate another 2 types: regional and municipal, which will significantly improve the accuracy of macroeconomic models in the mapping of economic reality. The main objective of this paper is to justify the use of macroeconomic models, along with the traditional, yet also regional and municipal types of business entities that, among other things, should lead to a strengthening of the relationship and interdependence between economic theory and the regional economy. Moreover, one of the most important tasks of the work is the problem of estimating the impact of different types of local government - the Anglo-Saxon, Continental and mixed on the value of the macroeconomic parameters. Accounting for regional and municipal factors in the macro-level concepts will make a significant change in the system of national accounts that fundamentally affect the level of economic practice. In addition, considerable attention is also paid to the determination of the influence of different institutions on the functioning and development of the regional socio-economic systems. In this paper we used the methods of systemic and institutional analysis, economic-statistical methods, and modeling techniques of reproduction processes.Using a macroeconomic model, along with traditional and more regional and local forms of business entities will not only make significant changes in the system of national accounts, but should lead to greater interaction and mutual influence of economic theory and the regional economy. An important finding in the implementation of the theoretical analysis of the national economy is the position that the allocation of municipal level as an independent subject of management is only appropriate for those countries where the Anglo-Saxon and implemented a mixed model of local government, whereas in the case of continental (French) model the municipal level will be just integral part of the regional level.

Last modified: 2016-12-22 20:22:13