Post-Crisis Modeling of Economic Development Trends in an On-Going Recession of National Economies

• Published in: Montenegrin journal of economics 2021-04, Vol.17 (2), p.75-82
• Main Authors: Valinurova, Liliya, Sulimova, Elena, Guseva, Tatyana, Bolotina, Evgeniya, Tumin, Valery
• Format: Article
• Language: English
• Subjects: Budgets; Econometrics; Economic development; Economic growth; Fixed assets; Global economy; Globalization; Recessions; Trends
• ISSN: 1800-5845; 1800-6698
• DOI: 10.14254/1800-5845/2021.17-2.6

Within the structure of the development trends of the global economy, crisis phenomena determine, first of all, the possibility of further development of global industries, which require significant external assistance in the formation of development strategies. The aim of the research is to build a trend of global economic recovery in terms of stimulating the increase in the value of production assets and an overall assessment of the development potential of the research program. Budgeting of the process should be considered in terms of formation of the development model not only on the basis of factual assessment, but on the level of forecasted economic growth as well. In the course of the research, mainly prognostic and extrapolation methods were used basing on the actual data collected with the growing economy prior to the crisis. The main results of the study are presented in the form of a model for reducing the consequences of the liquidation of crisis phenomena. The model reflects the close relationship between the gross output of goods and services in the industrial sector during the crisis and shows the possibility of changes in the value of fixed assets and the number of people employed in the industrial sector. The formation of this form of sustainable economic functioning allows for full implementation of development projects and technical improvement of industrial assets.