Economic Growth Stability under National Markets’ Integration: Mercantilism Striking Back

Title: Economic Growth Stability under National Markets’ Integration: Mercantilism Striking Back

Authors: MARIA ERMILOVA¹, DENIS USHAKOV², MURYANI³

Affiliations: 1.Department of Financial Management, Plekhanov Russian University of Economics, Russia, Moscow; 2. International College, Suan Sunandha Rajabhat University, Thailand, Bangkok; 3. Faculty of Economics and Business, Airlangga University, Indonesia, Surabaya

Publisher: Anais da Academia Brasileira de Ciencias (Annals of the Brazilian Academy of Sciences)

Abstract

Sustainable economic growth as an overall positive dynamics of macroeconomic indicators without any serious fluctuations in values during a relative long term belongs to the most persuasive evidence of the internal efficiency of national economic system and also of global competitiveness under all uncertainties of the world market environment. In this article, we analyze the macroeconomic indicators of the contemporary economies so that to determine the level of impact from their involvement in the world trade on the stability of their economic development. A new, author’s method is offered here to determine the index of economic growth stability for the economies of the 21st century. A correlation is revealed being between economic growth stability and external trade activeness of the today’s economies. Countries are classified here depending on the dynamics of their trade balance. Contemporary factors of national economic growth stabilization are outlined being in direct dependence with the dynamics of external trade.

Keywords: economic growth, external trade, export, import, stabilization, sustainable development, external factors of economic stabilization, trade balance.

Sources: http://repository.unair.ac.id/95361/1/Muryani_Karil%2006.pdf