Macroeconomic signs of an innovative economy by the case of Great Britain

By the case of the economic development of Great Britain, the hypothesis was verified that innovations at the macroeconomic level should accelerate economic growth and at the same time reduce development risks, stabilizing this growth, reducing its fluctuations under the influence of market factors. The economic development of Great Britain is investigated in 25 economic cycles for the period from 1830-2020. Economic development was investigated according to the parameters of economic growth and development risk in each of the considered cycles. Four types of economic development policy are theoretically described in terms of the dynamics of changes in growth and risk between the previous and subsequent cycles including progressive, regressive, aggressive and conservative. In relation to the identified periods of progressive development policy in Great Britain, the institutional innovations that led to this type of development were investigated. Among them was the great economic reform of the early Victorian era, the course of social or new liberalism and the popular budget before the First World War, the activities of the first Labor government immediately after this war, economic recovery after World War II in combination with the Marshall plan and nationalization, the era of the Conservatives and the politics of New Labor at the end of the 20th century. The study showed that the implementation of authentic national culture and institutions complementary to the existing authentic culture institutions of institutional innovations leads to a simultaneous decrease in the risk of development and acceleration of economic growth, which can be considered the most favorable policy of macroeconomic management of entrepreneurial activity in order to accelerate the application of technical and commercial innovations

Comparison of the economic development of countries spreading Spanish culture

An analysis of the risks and rates of development of the countries with Spanish culture for the period from 1820 showed that the influence of culture and institutions on these parameters of development is not detected. Neither the former metropolis, nor its largest former colonies were among the leaders of the world's economic development, have not cultivated a special institutional development model that would enable sustainable internal growth. In general, it can be stated that the countries of Spanish culture became the periphery of Western civilization, which disabled them to become either independent civilizations or integrate into the core of the development of the global West

Assessment of the Competitiveness and economic development policies of the countries of the Former French Empire

A methodology for assessing the competitiveness and policy of economic development of the countries has been developed. As an indicator of competitiveness, the advanced development index is proposed, defined as the ratio of the growth rate of a country's real GDP to the global indicator. To assess the policy of economic development, it is proposed to use an assessment of changes in the advanced development index and the standard deviation of the annual growth rates of real GDP, evaluated for the periods of economic cycles from the beginning of the recovery to the end of the recession, in comparison with the previous period. The second indicator is proposed to be used as an indicator of the sustainability of economic growth and development risk. Such an assessment tool allows four types of economic development policies to be defined including conservative, aggressive, progressive, and regressive ones, when, in comparison with the previous period, the advanced development index and the growth sustainability indicator, respectively, fall or grow in the next period. On the basis of these indicators, an evaluation of the index of the proximity of historical fate is proposed. The developed methodology is applied to the assessment of the economic development of the countries of the former French Empire since 1952. The analysis of the indicators made it possible to reveal that the similarity of the economic development of countries that were previously part of the same empire, the higher, the closer the cultures of these countries, and the further away, the further away from their cultures. At the same time, only those countries achieved advanced development that, after gaining independence, which were able to form their own institutional system, significantly different from the colonial institutions of the metropolis. No signs of the emergence of French civilization, united by a common historical destiny, have been found on the territory of the former French Empire. The obtained scientific result is proof of the need to develop a model of a multipolar world, in which it is necessary to include a provision on the need to form institutions of economic development that are authentic to each culture

Diversity of economic development in Portuguese-speaking countries

The rates of growth and stability of economic development of the countries of the Portuguese world in the years 1870-2018 are investigated. The comparison has been carried out for 15 economic cycles, which are grouped into following historical periods: monarchical, dictatorial and democratic. The developed method for researching economic development policies makes it possible to quantitatively assess the historical fate of territories in terms of growth and risk. The indicators of the standard deviation of the growth rates of real gross domestic product were used as an indicator of sustainability. The features of progressive, regressive, conservative and aggressive policies of economic development are described. It is shown that during the entire studied period, only Spain which is beyond the Portuguese-speaking word demonstrated similarity in development with Portugal. Brazil's development trend deviated from the metropolis after 130 years of independence and 60 years of obvious institutional differences. African colonies in their turn immediately began to demonstrate a drastically different development policy. This proves that culture has a more significant and long-term impact on economic development than state and social institutions. The results obtained show that the Portuguese world has not formed a separate civilization with special and peculiar traits to be united with the common historical fate