THEORETICAL AND METHODOLOGICAL CHALLENGES IN ECONOMIC ANALYSIS DEVELOPMENT IN THE CONTEXT OF ITS PARADIGM SHIFT
Journal Title: The Institute of Accounting, Control, and Analysis in the Globalization Circumstances - Year 2016, Vol 3, Issue 3
Abstract
Introduction. Transformation of the national economics, rapidity, unsteadiness and vagueness of the external environment drive the need for revising theoretical and methodological principles of economic analysis as an integral knowledge system used to create an informational foundation for making management decisions. The absence of complex and systemized approaches during the research of the challenges in theory and methodology of economic analysis delays its development and hinders its adaptation to modern economy management. Methods. The research is based on the dialectical knowledge acquisition approach. Historical approach is used during the detection of indicative characteristics of the economic analysis paradigms and elaboration of its functions. The following general scientific methods such as: analysis, synthesis, induction and deduction served as the basis for detecting challenges in economic analysis, while detalization and generalization are used to classify its principles. Results. Rationalizing the relevance of distinguishing the economic analysis paradigms of the 20th and 21st centuries, defining their indicative characteristics with regard to the social and economic conditions. The need for paradigm shift in economic analysis of the 20th century due to its incongruity with the current economic situation is provided. Identifying the challenges that occur in the theoretical and methodological areas and hinder the paradigm shift and delay the economic analysis development. Outlining the structural elements of the theory and methodology of economic analysis, suggesting their refinement and elaboration under the conditions of enterprise instability, vagueness, and operational risks, as well as increase in institutional environment pressure. Proving the importance of extending traditional objectives of economic analysis – appraisive, diagnostic and exploratory – with objectives like protective, communicative, and monitoring. Classifying the principles of economic analysis (philosophical, methodological, and organizational). Discussion. Transition to the new economic analysis paradigm which presupposes the change in temporal orientation of analytical research, extending objectives, elaboration of principles, and increase in analysis objects requires the revision of the currently used economy management analysis approaches. As a result, further research will be dedicated to evaluating the effectiveness of approaches in use and their improvement in the context of maximum fulfillment of information needs when making management decisions.
Authors and Affiliations
Tamara Gerasymenko
Keywords
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THEORETICAL AND METHODOLOGICAL CHALLENGES IN ECONOMIC ANALYSIS DEVELOPMENT IN THE CONTEXT OF ITS PARADIGM SHIFT
Introduction. Transformation of the national economics, rapidity, unsteadiness and vagueness of the external environment drive the need for revising theoretical and methodological principles of economic analysis as an in...