INTERACTIONS BETWEEN ECONOMIC GROWTH AND RISING LIVING STANDARD

Gogoski, Risto and Karadjova, Vera (2012) INTERACTIONS BETWEEN ECONOMIC GROWTH AND RISING LIVING STANDARD. In: EDASOL2012 Economic Development and Standard of living Banja Luka.

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Abstract

This paper examines relation between positive economic growth and rising living standard. We use the macroeconomic theory analyzing state of growth and living standards in less developed economies (LDE), especially on the example of the R of Macedonia. Attention is directed towards utilizing the potential GDP in order to maintain and improve living standards.

Why have living standards increased in some countries, but not in others? This is the question about theory of economic growth - the long run increase in an economy’s output of gods and services.

What can do the governments to speed the rise in living standards? What strategies can use less developed nations to increase their economic growth? What kind of political and social obstacles impede growth and in turn delay, and even stop progress in development? Is the foreign investment and aid the solution for these countries? Also, all these questions is concerning for authority in the Macedonian economy. Especially, because in R of Macedonia there are monetary stability and stabile exchange rate over two decades, paper analyse the impact of financial sector on rising growth and rising living standards.

Key words: economic growth, rising living standards, economic welfare, total factor productivity, macroeconomic policy

JEL: E.24; E.42; E.60: D.24; D.60

Item Type:	Conference or Workshop Item (Paper)
Subjects:	Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions:	Faculty of Tourism and Hospitality
Depositing User:	Mr Bojan Sekulovski
Date Deposited:	08 Nov 2017 14:52
Last Modified:	08 Nov 2017 14:52
URI:	https://eprints.uklo.edu.mk/id/eprint/943

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