Crises of the Global Finance: Politics of Monetary Authorities (1994-2014)
- Viacheslav M. Shavshukov
- Natalya A. Zhuravleva
Abstract
Since the beginning of the 80s.of twentieth century, a global financial and economic environment system wasformed, and one sign of which were the crises of the global finance. Anti-crisis measures of the monetaryauthorities are a combination of Keynesian and monetarist prescriptions. The first are nationalization, purchaseby state (or regional financial institutions - RFI) distressed assets, the maintenance of employment and demand,social programs, state spending on High-tech. The second are tax breaks, reducing rates of discount and rates ofinterest, avoiding inflation by controlling the money supply.