SPECIFIC FACTORS OF THE ECONOMIC CRISIS

Abstract

Aim. To analyze typical causes of modern economic crises, as well as to identify and evaluate specific relevant factors determining the characteristics of crisis phenomena and processes in the modern world and domestic economy. Methodology. Based on the analysis of the impact of factors, the possibilities and timing of the transition of the world economy to sustainable dynamic growth in the emerging growing phase of the long cycle were assessed. The study was carried out using the methods of retrospective analysis, statistical observation, economic comparison and analogies. Results. The specific factors of modern crises are identified and their impact on the economic growth is estimated. The analysis of the prerequisites for economic recovery and its growth is carried out. Based on the results of the retrospective analysis of statistical observation data, the dependence between the parameters of investment activity and the dynamics of economic growth was confirmed. It is shown that under the influence of specific factors of the crisis and the continuing restrictive measures regarding the freedom of movement of goods, capital and labor, the crisis manifestations in the economy will continue. The impact of the identified factors on the development of the economy is estimated as negative, significant and long-lasting. Research implications. The results of the study can be used as an additional tool for forecasting the state of the economy, identifying and assessing risk factors, assessing threats to the development of the economic crisis.