The Role of The Government in The Economy The Topic of Concern is the Analysis and Forecasting of Macroeconomic Factors
Keywords:
Government, Legal and Social Framework, Competition, Public Goods and Services, Externalities, Income and Economy.
Abstract
The successful and effective exploitation of resources in the economy requires appropriate governance by a regulating body that acts as a mediator. This function is suitable for the government. In order to preserve the efficient allocation of resources and prevent their excessive use, it is essential for the government to exercise its authority. It is important to establish norms that impose restrictions on an entity's excessive usage and improper handling of limited resources. By establishing guidelines and providing clear instructions, the assurance of effective distribution may be achieved. It is essential for the government to ensure the sustainability of the economy in order to facilitate the country's progress and advancement. This research aims to provide a more comprehensive understanding of the six roles of the government in the economy, as well as their significance. In addition, it is beneficial to comprehend the government's approach in managing potential situations that might potentially disrupt the economy.
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2. ALTax. (2017, December 18). Why Government Should Redistribute Income? ALTAX. https://altax.al/en/why-government-should-redistribute-income/?fbclid=IwAR2ybKPk1iyF_8vnsKHUd6BZeLELv7J_B0LdQS00WoSWXBK7t0JVh gUj3lg
3. Barro, R. J. (1990). Government spending in a simple model of endogenous growth. Journal of Political Economy, 98(5, Part 2), S103-S125.
4. Blanchard, O., & Leigh, D. (2013). Growth forecast errors and fiscal multipliers. IMF working paper, 13(1), 1-22.
5. BOURGUIGNON, F. (2018, March). Redistribution of Income and Reducing Economic Inequality - IMF F&D Magazine. IMF. https://www.imf.org/en/Publications/fandd/issues/2018/03/bourguignon
6. Cerra, V., & Saxena, S. C. (2008). Growth dynamics: The myth of economic recovery. American Economic Review, 98(1), 439-457.
7. Cowen, T. (2018). Public Goods. Econlib. https://www.econlib.org/library/Enc/PublicGoods.html
8. Economic Functions of Government - 18thch4. (2009). Www2.Harpercollege.edu. http://www2.harpercollege.edu/mhealy/eco212/econfcnsgovt18ch4.htm
9. Externalities - The Economic Lowdown Podcast Series. (2018). Www.stlouisfed.org. https://www.stlouisfed.org/education/economic-lowdown-podcast-series/episode-11- externalities#:~:text=Government%20can%20discourage%20negative%20externalities
10. Externalities. (2018). Econlib. https://www.econlib.org/library/Enc/Externalities.html
11. Externality. (2018). Corporate Finance Institute. https://corporatefinanceinstitute.com/resources/economics/externality/
12. Fiscal Policy: Taking and Giving Away. (2009). IMF. https://www.imf.org/en/Publications/fandd/issues/Series/Back-to-Basics/FiscalPolicy#:~:text=In%20the%20short%20term%2C%20governments
13. Government economic policy - Stabilization theory. (2022). Encyclopedia Britannica. https://www.britannica.com/topic/government-economic-policy/Stabilization-theory
14. Government’s Role in Managing the Economy. (2010). Github.io. https://saylordotorg.github.io/text_exploring-business-v2.0/s05-07-government-s-role-inmanaging-.html
15. Home. (2019). Www.oecd-Ilibrary.org. https://www.oecd-ilibrary.org/sites/79321fa3- en/index.html?itemId=/content/component/79321fa3-en
16. How legal developments in the Philippines are supporting the economic response. (2020, December 14). Oxford Business Group. https://oxfordbusinessgroup.com/overview/real-timeevolution-legislative-and-regulatory-developments-help-establish-roadmap-economic-recovery
17. https://www.investopedia.com/terms/e/externality.asp
18. Inequality, the Distribution of Wealth & Government Policies. (2008). Study.com. https://study.com/academy/lesson/inequality-the-distribution-of-wealth-governmentpolicies.html
19. Kenton, W. (2020, October 26). Externality. Investopedia.
20. OECD (2020). The Role of Competition Policy in Promoting Economic Recovery. https://www.oecd.org/daf/competition/the-role-of-competition-policy-in-promoting-economicrecovery-2020.pdf
21. Overview: Government’s Role in the Economy | Encyclopedia.com. (2019). Encyclopedia.com. https://www.encyclopedia.com/finance/encyclopedias-almanacs-transcripts-andmaps/overview-governments-role-economy
22. PHCC (2017). AN INTRODUCTION TO COMPETITION LAW https://www.phcc.gov.ph/wp-content/uploads/2017/04/PCC-MODULE-1-1.pdf
23. Posner, R. A. (1998). Creating a Legal Framework for Economic Development. The World Bank Research Observer, 13(1), 1–11. https://www.jstor.org/stable/3986386
24. Pradhan, S. (2021, July 7). Role of Government in Market Economy. PSCNOTES.IN. https://pscnotes.in/role-of-government-in-market-economy/
25. Promoting Competition. (2021). https://pdp.neda.gov.ph/wp-content/uploads/2021/12/Chapter16.pdf
26. Publisher, A. removed at request of original. (2016, June 17). 15.1 The Role of Government in a Market Economy. Open.lib.umn.edu; University of Minnesota Libraries Publishing edition, 2016. This edition adapted from a work originally produced in 2012 by a publisher who has requested that it not receive attribution. https://open.lib.umn.edu/principleseconomics/chapter/15-1-the-role-of-government-in-amarket-economy/
27. Reiss, J. (2021). Public Goods (E. N. Zalta, Ed.). Stanford Encyclopedia of Philosophy; Metaphysics Research Lab, Stanford University. https://plato.stanford.edu/entries/publicgoods/#:~:text=The%20government%20plays%20a%20significant
28. Rethinking Redistribution. (2011). Www.nationalaffairs.com.https://www.nationalaffairs.com/publications/detail/rethinking-redistribution
29. Romer, C. D., & Romer, D. H. (2010). The macroeconomic effects of tax changes: Estimates based on a new measure of fiscal shocks. American Economic Review, 100(3), 763-801.
30. Stabilization Policy (Economics) - Explained. (2022). The Business Professor, LLC. https://thebusinessprofessor.com/en_US/economic-analysis-monetarypolicy/stabilization-policy-definition
31. Stabilization Policy (Economics) - Explained. (2022). The Business Professor, LLC. https://thebusinessprofessor.com/en_US/economic-analysis-monetarypolicy/stabilization-policy-definition
32. The Functions and Role of the Government. (2020, November 4). Marketing91. https://www.marketing91.com/role-of-the-government/
33. The Functions and Role of the Government. (2020, November 4). Marketing91. https://www.marketing91.com/role-of-the-government
34. The Role Of Competition In Promoting Dynamic Markets And Economic Growth. (2002, November 12). Justice.gov. https://www.justice.gov/atr/speech/role-competition-promotingdynamic-markets-and-economic-growth
35. The Role of Government in a Market Economy – Nebraska Department of Education. (2018). https://www.education.ne.gov/socialstudies/cssap/modules/the-role-of-government-in-amarket-economy/#:~:text=There%20is%20a%20role%20for
36. The Role of Government in a Modern Market Economy. (2020). Public Finance, 1–35. https://doi.org/10.1142/9789811209949_0001
37. The Role of Government in a Modern Market Economy. (2020). Public Finance, 1–35. https://doi.org/10.1142/9789811209949_0001
38. What is Competition in Economics? Types of Competition with Example. (2021). Www.carboncollective.co. https://www.carboncollective.co/sustainable-investing/competition
Published
2023-10-04
How to Cite
Hakimova Sohiba Halimovna. (2023). The Role of The Government in The Economy The Topic of Concern is the Analysis and Forecasting of Macroeconomic Factors. Central Asian Journal of Innovations on Tourism Management and Finance, 4(9), 193-202. https://doi.org/10.51699/cajitmf.v4i9.612
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