FISCAL POLICY IN TERMS OF GLOBAL ECONOMIC CRISIS AND ITS IMPACT ON MACROECONOMIC AGGREGATES IN BOSNIA AND HERZEGOVINA
Journal Title: Acta Economica - Year 2011, Vol 9, Issue 14
Abstract
One of the biggest challenges for various theoreticians and practitians worldwide in the last few years has been the current economic crisis. They are faced with a challanging and resposible task of creating measures of economic politics which will minimize the negative effects of global crisis, make exit strategies and stimulate economic development in certain areas in the longterm. From a number of analyses and descriptions of this problem one general, quite homogeneous perception was formed: how and why did the crisis occur and what needs to be changed in the system to reduce the risk of such fractures to the smallest possible amount in the future. In contrast to this, there are still no recipes in theory and practice for a safe and painless way out of crisis. It was initially assumed that the financial injections, combined with new experience, create adequate environment for efficient activity of the invisible hand. However, it has become clear that the strong interventions of the state through a variety of economic policy measures are inevitable, and that in times of crisis most commonly used measures are regulatory, monetary and fiscal.
Authors and Affiliations
Бојана Васиљевић
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