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Innovative aspects of mitigation and recovery from the economic crisis

Journal: Academic Bulletin "Economics and Region" (Vol.1, No. 44)

Publication Date:

Authors : ;

Page : 30-38

Keywords : crisis; industrial crisis; the crisis of underproduction; the crisis of overproduction; anti-crisis tools.;

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The phenomenon of "economic crisis" is widely known and has been observed in practice, so it is reasonable to prepare a set of anti-crisis measures that will enable to reduce the uncertainty risks, the number of man- agerial errors and suspend the chain reaction of bankruptcies and unemployment. For the development of crisis man- agement tools it is necessary to identify the type of future crisis, so authors developed a classification of economy crises, taking into account the nature of the reproduction proportions violations, frequency of occurrence, flow pat- tern, the degree of expectedness, multidimensionality of the imbalance scale (sphere of influence, territorial coverage, frequency of occurrence, duration). The study of periodic fluctuations of socio-economic development showed their direct dependence on innovations that form the preconditions for the emergence of economic cycles. Authors devel- oped a conceptual model for dependence of the industrial development dynamics on the level of efficient demand; this model reflects trends of interrelated changes in production volumes and the aggregate demand and their impact on changing the national level of economic development in two scenarios: inertial and active (innovation) ones. It is proved that the activation of consumer demand can be efficiently achieved by introducing innovative products into the market. Therefore, for economic recovery it is advisable to invest in innovation.

Last modified: 2016-08-15 15:41:14