Banks and Bank Systems · 2020 · 23 citations · 7 references
Coronavirus PandemicVirus EpidemiologyInternational Financial CrisisCovid-19Monetary PolicyExternal ShockInternational FinanceFiscal PolicyPublic PolicyEconomicsStatistical MethodsCovid-19 PandemicAnti-crisis MeasuresDisease SurveillanceFinanceUkrainian EconomyMacroeconomicsGlobal HealthEconomic StabilityShock (Economics)BusinessFinancial CrisisCurrency CrisesPriority SystemCrisis ManagementCurrency CrisisInternational Institutions
The new global financial and economic crisis is caused by the spread of the coronavirus epidemic, the reduction in aggregate supply, the escalation of trade wars, and the outflow of capital from emerging markets. This requires national macroeconomic regulatory authorities to take prudent measures to protect national economies from destabilizing externalities. Therefore, the purpose of the article is to justify and develop a priority system of stabilization policy and anti-crisis measures to counter the spread of external shocks in the national economy, stabilize it, and create conditions for its further recovery and sustainable economic growth. To achieve this aim, the existing theoretical sources and research materials of international organizations were systematized, the legislative and regulatory framework in Ukraine was generalized, and statistical methods, a historical method, analysis and generalization were also used. As a result, the channels of impact of external shocks on Ukraine’s economy were identified, and the areas of internal vulnerability of the national economy that could significantly increase the negative effects of externalities were determined. The knowledge gained has become the basis for formulating conceptual directions of crisis management and developing a system of measures to counteract crisis phenomena, which include the monetary policy tools of the National Bank of Ukraine, the structural and fiscal policy of the Government, as well as the banking regulation and capital control policies.
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The Role of the State in Financial Markets
Joseph E. Stiglitz · The World Bank Economic Review · 1993 · 1.2K citations · Full text
Capital Inflows: The Role of Controls
Jonathan D. Ostry, Atish R. Ghosh, Karl Habermeier et al. · IMF Staff Position Note · 2010 · 703 citations · Full text