CURRENT PRIORITIES OF THE MONETARY MECHANISMS OF CRISIS MANAGEMENT

Abstract

Contemporary anti-crisis strategy is characterized by important particularities with several effects. First, it becomes impossible to develop a single unified model of crisis management. Second, the role of non-economic crisis-causing factors increases compared to economic determinants. Third, it becomes difficult to correctly predict the consequences of the crisis and thus, the effects of the anti-crisis strategy. Consequently, the success of the post-crisis rehabilitation of the countries' economies depends significantly not only on the effective realization of their own plan, but also, in general, on the specificities of the global economy and on the ability of the world markets to overcome the negative consequences of the crisis.


The global character of the problems requires new types of scientific research out of which the development of complex post-crisis platforms and state post-crisis strategies is the priority today. The most effective component in the anti-crisis strategy has become the monetary instruments of economy management. As for the determinant of successful functioning of economy, the priority is given to the regulation of exchange rate, interest rate and inflationary processes.


The paper discusses the financial strategies of effective management of integration processes. It analyses the influence of the government's monetary mechanisms on a stable functioning of socio-economic system. It also discusses the monetary strategies of the anti-crisis policy, the results of its forecast and plans for financial stabilization. The paper presents the example of the monetary strategy and main priorities of the National Bank of Georgia, and analyses the anti-crisis monetary instruments and the mechanisms of their use in Georgia.


 


Key  words: balanced development of world markets; forecasting economic fluctuations; financial mechanisms of crisis prevention; monetary policy, financial stabilization strategies.

Published
2022-12-29
How to Cite
TABATADZE, Marina. CURRENT PRIORITIES OF THE MONETARY MECHANISMS OF CRISIS MANAGEMENT. ECONOMICS, BUSINESS AND ADMINISTRATION, [S.l.], n. II, p. 126-137, dec. 2022. ISSN 2720-8249. Available at: <http://sciencejournals.ge/index.php/bu/article/view/307>. Date accessed: 03 feb. 2023.
Section
Articles