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2013, vol. 15, iss. 1, pp. 17-30
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Achievements of economic policy in overcoming the effects of the global economic crisis on Serbian economy
Dometi ekonomske politike u prevazilaženju efekata globalne ekonomske krize na ekonomiju Srbije
Project: Role of State in New Growth Model of Serbian Economy (MESTD - 179065)
Abstract
The paper deals with the extent to which the economic policy in Serbia has managed to respond to the economic problems imposed by the global economic crisis and how the restrictions in the form of political instability and political influence, present also before the crisis, influenced the economic policy formulated to combat the crisis. Globally, the economic crisis has resulted in the fact that instead of the rules in economic policy making, with the key objective of maintaining price stability, now discretion and fiscal policy are being promoted, with the aim of overcoming the problem of unemployment. Significant use of discretion in economic policy generally imposes the problem of competence and possible political motives of the economic policy makers. It is the limitations of underdeveloped institutions and a wrong model of growth that have contributed to the fact that the results of economic policy in Serbia have not been significant. Serbia is facing the negative consequences of the measures implemented in the form of high budget deficits, public debt and inflation, while the effects on economic activity and employment have failed, causing present choice between rules and discretion.
Sažetak
Rad je posvećen temi u kojoj je meri ekonomska politika u Srbiji uspela da odgovori na ekonomske probleme nametnute uticajem globalne ekonomske krize i koliko su ograničenja u vidu političke nestabilnosti i političkog uticaja, inače prisutni i pre krize, uticali i na ekonomsku politiku formulisanu u cilju borbe protiv krize. Ekonomska kriza je na globalnom nivou uticala da se, umesto pravila u vođenju ekonomske politike sa ključnim ciljem održanja cenovne stabilnosti, promoviše diskrecija i fiskalna politika, sa ciljem prevazilaženja problema nezaposlenosti. Značajnija primena diskrecije u ekonomskoj politici i inače nameće problem kompetentnosti i eventualnih političkih motiva kreatora ekonomske politike. Upravo su ograničenja nedovoljno razvijenih institucija i pogrešnog modela rasta doprinela da rezultati ekonomske politike u Srbiji ne budu značajni. Srbija se suočava sa negativnim posledicama primenjenih mera u vidu visokog budžetskog deficita, javnog duga i inflacije, dok su efekti na privrednu aktivnost i zaposlenost izostali, zbog čega je aktuelan izbor između pravila i diskrecije.
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