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The Effectiveness of Anti-Inflationary Policy in Ukraine and the Former Republics of the Soviet Union

Journal: Scientific Bulletin of Mukachevo State University. Series “Economics” (Vol.4, No. 2)

Publication Date:

Authors : ; ;

Page : 68-74

Keywords : inflation; anti-inflationary policy; inflation processes; inflation tax; purchasing power of economic entities;

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The processes of globalization, changes in the structure of organizational-economic and technical and economic relations, the unstable dynamics of prices for energy resources in recent years, cause the emergence of new causes, forms and effects of inflation. The purpose of the article is to formulate recommendations for improving the effectiveness of anti-inflationary policy in Ukraine on the basis of an analysis of its mechanism in the former Soviet republics. The methods of general economic analysis have been applied: induction, deduction, comparative analysis, system analysis, detection of cause-effect dependence. The expediency of using anti-inflation policy tools in order to stabilize social and economic development of the country, as well as improving the quantitative and qualitative characteristics of economic growth, has been revealed and theoretically substantiated. Considerable attention is paid to the application of the experience of the individual post-socialist countries development. The essence and analysis of the dynamics of the inflation tax in Ukraine, which is paid by economic entities of the country as a result of reducing the level of their purchasing power in the conditions of growth of inflation have been determined. The scientific novelty of the research is to substantiate the role of the dynamics of inflationary processes in the worsening social and economic situation in the country. It has been proved that the problem of inflation in the country should be investigated not as a separate economic phenomenon, but in parallel with the analysis of the dynamics of the main social and economic indicators: the minimum average monthly wage, the dynamics of the exchange rate, the structure of consumer expenditures, etc. The practical significance of the results is to formulate recommendations aimed at increasing the effectiveness of anti-inflationary policies in Ukraine. It has been established that in recent years the negative influence of the acceleration of the dynamics of inflationary processes has become more pronounced in the social sphere and leads to a significant decrease in the level of real incomes of economic entities. Another negative manifestation of these processes is the increase in the value of the inflation tax paid by economic entities as a result of a decrease in their purchasing power in the context of accelerating the dynamics of inflation. Further research will be aimed at deepening the analysis of the negative impact of inflation on the magnitude of qualitative and quantitative indicators in the social sphere of the Ukrainian economy.

Last modified: 2021-08-19 18:18:25