Role of the domestic market and export-expansion development in economic growth

The author examines the issue of domestic market expansion within the context of the country’s economic growth. With the assistance of the Kalman filter she analyzes the effect of internal and external factors on the balance of external accounts ? current and financial operations. Establishing the asymmetrical effect of domestic demand on the balance of external accounts (similarly, it concerns a series of exogenous factors), she substantiates the inadvisability of stimulating consumer demand at the expense of external borrowings. The author offers recommendations for self-sufficient animation of economic growth without upsetting the equilibrium of the external account.