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Trade-Off Between Intergenerational Equity and Economic Growth: Social and Financial Stability Puzzle

Trade-Off Between Intergenerational Equity and Economic Growth: Social and Financial Stability Puzzle

Nataliya Sergeevna Makarova
Copyright: © 2020 |Pages: 30
ISBN13: 9781799810339|ISBN10: 179981033X|ISBN13 Softcover: 9781799810346|EISBN13: 9781799810353
DOI: 10.4018/978-1-7998-1033-9.ch010
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MLA

Makarova, Nataliya Sergeevna. "Trade-Off Between Intergenerational Equity and Economic Growth: Social and Financial Stability Puzzle." Social, Economic, and Environmental Impacts Between Sustainable Financial Systems and Financial Markets, edited by Magdalena Ziolo, IGI Global, 2020, pp. 201-230. https://doi.org/10.4018/978-1-7998-1033-9.ch010

APA

Makarova, N. S. (2020). Trade-Off Between Intergenerational Equity and Economic Growth: Social and Financial Stability Puzzle. In M. Ziolo (Ed.), Social, Economic, and Environmental Impacts Between Sustainable Financial Systems and Financial Markets (pp. 201-230). IGI Global. https://doi.org/10.4018/978-1-7998-1033-9.ch010

Chicago

Makarova, Nataliya Sergeevna. "Trade-Off Between Intergenerational Equity and Economic Growth: Social and Financial Stability Puzzle." In Social, Economic, and Environmental Impacts Between Sustainable Financial Systems and Financial Markets, edited by Magdalena Ziolo, 201-230. Hershey, PA: IGI Global, 2020. https://doi.org/10.4018/978-1-7998-1033-9.ch010

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Abstract

The global financial crisis of 2007-2008 posed the problems of the slowing world economy growth rates that predetermined the necessity to investigate a national economy's structural characteristics associated not so much with the objective, easily modeled factors of its development as with the subjective ones, difficult to be understood but increasing in importance. The latter is connected with inequity in the simultaneously living generations' perception, which is fueled by the trends of accelerated income polarization of the population, the middle-class reduction, and decreasing possibilities of achieving higher living standards for the socially vulnerable groups. All the above predetermines the behavior of economic agents in society and ultimately the prospects for the long-run economic growth in the country. The author conducted a model experiment with the dynamics of intergenerational equity and economic growth on the basis of the sub-martingale. The results show the growing importance of the human factor in ensuring the stable growth of the global economy.

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