Conceptual Approaches to Stress Testing of the Regional Economy and Assessment of its Sustainability: Theory and Practice
( Pp. 169-176)
More about authors
Kirill S. Purtov
Postgraduate Student of the Department of Financial Management and Financial Law
Moscow Metropolitan Governance University
Moscow, Russian Federation
Moscow Metropolitan Governance University
Moscow, Russian Federation
Abstract:
The fragmentation of the study of foreign experience in the issue of methodology for stress testing the region and assessing resilience to crisis situations will determine the relevance of the article and is associated with a number of factors, including a variety of economic and political conditions, different methodologies, restrictions on access to information and the difference in estimated indicators. The article is devoted to the analysis and discussion of the approaches of the Nobel laureates in economics: Richard Thaler, Robert Schiller, Paul Krugman, Gary Stanley Becker, James Buchanan, to identify the features and distinctive conceptual aspects inherent in each of the researchers in the direct or indirect consideration of the topics covered in the articles. The article discusses and summarizes the key factors on which the stress-resistance of the regional economy depends.
How to Cite:
Purtov K. S. Conceptual Approaches to Stress Testing of the Regional Economy and Assessment of its Sustainability: Theory and Practice // ECONOMIC PROBLEMS AND LEGAL PRACTICE. 2023. Vol. 19. № 4. P. 169-176. (in Russ.) EDN: ZISWRS
Reference list:
Becker G.S. Family // Economic theory / Ed. by J. Eatwell, M. Milgate, P. Newman. —M.: Infra, 2004. —pp. 308–321, 931 p.
Becker G.S. Human Behavior: An Economic Approach. —M.: State University — Higher School of Economics, 2003. —672 p.
Bernanke B., Frank R. Economics. Express course. —St. Petersburg: Piter, 2012. —720 p.
Buchanan J. M. Politics without romance: a summary of the positive theory of public choice and its normative conditions // Milestones of economic thought. Welfare economics and public choice. V.4 / Ed. By A.P. Zaostrovtsev. —St. Petersburg: School of Economics, 2004. —568 p.
Zakharenko R.L. Paul Krugman: Nobel laureate, theorist of international trade and economic geography // HSE Economic Journal. 2009. V. 13. No. 1. pp. 130–137.
Krugman P.R. Great lie. Going astray at the turn of the new century. —M.: AST, 2004. —474 p.
Lvova M.I. Theoretical aspects of stress testing the financial potential of the region / Bulletin of the Ural Institute of Economics, Management and Law. Economy. —2011, No. 1 (14). —pp. 27–31.
Thaler R. New Behavioral Economics. Why do people break the rules of the traditional economy and how to make money on it. — M.: EKSMO, 2017. — 368 p.
Thaler R. From Homo economicus to Homo sapiens // Logos. —M.: 2014. No. 1 (97). —pp 141–154.
Thaler R., Sunstein K. Nudge. Choice architecture. How to Improve Our Decisions about Health, Wealth, and Happiness trans. from English by E. Petrova; [scient. ed. S. Shcherbakov]. —M.: Mann, Ivanov and Ferber, 2017. —240 p.
Schiller R. Irrational optimism. How Reckless Behavior Governs Markets —M.: Alpina Publisher, 2013. —422 p.
Schiller R. Finance and good society [Text] / Robert Schiller: trans. from English by Yuri Kapturevsky. - M.: Publishing House of the Institute of Gaidar, 2014. —501 p.
Bernanke, Ben S. (October 2015). The Courage to Act: A Memoir of a Crisis and Its Aftermath. W.W. Norton & Company; Reprint edition (May 2, 2017), 640 p.
De Bondt W., Thaler R. Does the stock market overreact? J. of finance.—1985.—Vol. 40.—P. 793–808.
Dixit A. In Honor of Paul Krugman: Winner of the John Bates Clark Medal // The Journal of Economic Perspectives. 1993. Vol.7, № 2. P. 173–188.
Krugman P., Obstfeld M. International Economics Theory & Policy. Seventh Edition—Boston, Pearson Education, Inc., 2006, 680 p.
Krugman P. The Conscience of a Liberal—N.Y., L., W.W. & Company, 2007, 296 p.
Thaler R.H. Mental accounting and consumer choice // Marketing Science.—1985.—Vol. 4, N 3.—P. 199–214.
Becker G.S. Human Behavior: An Economic Approach. —M.: State University — Higher School of Economics, 2003. —672 p.
Bernanke B., Frank R. Economics. Express course. —St. Petersburg: Piter, 2012. —720 p.
Buchanan J. M. Politics without romance: a summary of the positive theory of public choice and its normative conditions // Milestones of economic thought. Welfare economics and public choice. V.4 / Ed. By A.P. Zaostrovtsev. —St. Petersburg: School of Economics, 2004. —568 p.
Zakharenko R.L. Paul Krugman: Nobel laureate, theorist of international trade and economic geography // HSE Economic Journal. 2009. V. 13. No. 1. pp. 130–137.
Krugman P.R. Great lie. Going astray at the turn of the new century. —M.: AST, 2004. —474 p.
Lvova M.I. Theoretical aspects of stress testing the financial potential of the region / Bulletin of the Ural Institute of Economics, Management and Law. Economy. —2011, No. 1 (14). —pp. 27–31.
Thaler R. New Behavioral Economics. Why do people break the rules of the traditional economy and how to make money on it. — M.: EKSMO, 2017. — 368 p.
Thaler R. From Homo economicus to Homo sapiens // Logos. —M.: 2014. No. 1 (97). —pp 141–154.
Thaler R., Sunstein K. Nudge. Choice architecture. How to Improve Our Decisions about Health, Wealth, and Happiness trans. from English by E. Petrova; [scient. ed. S. Shcherbakov]. —M.: Mann, Ivanov and Ferber, 2017. —240 p.
Schiller R. Irrational optimism. How Reckless Behavior Governs Markets —M.: Alpina Publisher, 2013. —422 p.
Schiller R. Finance and good society [Text] / Robert Schiller: trans. from English by Yuri Kapturevsky. - M.: Publishing House of the Institute of Gaidar, 2014. —501 p.
Bernanke, Ben S. (October 2015). The Courage to Act: A Memoir of a Crisis and Its Aftermath. W.W. Norton & Company; Reprint edition (May 2, 2017), 640 p.
De Bondt W., Thaler R. Does the stock market overreact? J. of finance.—1985.—Vol. 40.—P. 793–808.
Dixit A. In Honor of Paul Krugman: Winner of the John Bates Clark Medal // The Journal of Economic Perspectives. 1993. Vol.7, № 2. P. 173–188.
Krugman P., Obstfeld M. International Economics Theory & Policy. Seventh Edition—Boston, Pearson Education, Inc., 2006, 680 p.
Krugman P. The Conscience of a Liberal—N.Y., L., W.W. & Company, 2007, 296 p.
Thaler R.H. Mental accounting and consumer choice // Marketing Science.—1985.—Vol. 4, N 3.—P. 199–214.
Keywords:
stress resistance, regional economy, stability, unity of the regional economy, macro level, socio-economic dynamics..
Related Articles
NATIONAL SECURITY OF RUSSIA Pages: 15-20 DOI: 10.33693/2223-0092-2020-10-3-15-20 Issue №16874
NATO’s Eastward advance is a threat to Russia’s security as the main subject of the Russian world
Russia
NATO
threat
stability
Russian world
Show more
13. WORLD AND REGIONAL ECONOMY Pages: 144-146 Issue №4029
GENERATING CONDITIONS AND SOURCES OF ECONOMIC REVITALISATION AND GROWTH OF REGIONAL SOCIO-ECONOMIC POLICY
regional economy
socio-economic policy
sustainable development
investment policy
investment activity
Show more
4. CRIMINAL - LEGAL, CRIMINOLOGICAL, ADMINISTRATIVE AND OTHER MEASURES FOR COUNTERING CRIME IN CONTEMPORARY CONDITIONS Pages: 312-315 Issue №16988
Some of the characteristics organized criminal group
criminal groups
objects of attack
objective side
elements of the crime
cohesion
Show more
13. WORLD AND REGIONAL ECONOMY Pages: 302-306 Issue №3231
INTERACTION OF CITIES AS A MECHANISM OF REGIONAL ECONOMIC SPACE
Region
regional economy
economy urban settlements
regional economic space
Show more
6. CURRENT ISSUES OF SOCIO-ECONOMIC DEVELOPMENT OF RUSSIA. ECONOMY Pages: 252-255 Issue №8496
REGIONAL DEVELOPMENT IN THE CONDITIONS OF REALIZATION OF IMPORT SUBSTITUTION MEASURES
regional economy
the policy of import substitution
business activities
investment
Show more
17. WORLD AND REGIONAL ECONOMY Pages: 278-281 Issue №10779
DIRECTIONS OF PERFECTION OF MANAGEMENT OF THE REGIONAL MARKET OF REAL ESTATE
region
the real estate market
regional economy
development
Show more
10. INTERNATIONAL PUBLIC LAW, INTERNATIONAL PRIVATE LAW Pages: 236-241 Issue №6840
The Conference on Interaction and Confidence Building Measures in Asia
regionalization
cooperation
SWDMA
the Asian region
confidence-building measures
Show more
16. WORLD AND REGIONAL ECONOMY Pages: 253-256 Issue №6062
THE STUDY OF ORGANIZATIONAL AND FUNCTIONAL MECHANISM OF THE FORMATION OF REGIONAL COMPETITIVE ADVANTAGES
Region
economic conditions
regional economy
competitiveness
competitive advantages
Show more
15. ECONOMICS AND NATIONAL ECONOMY MANAGEMENT, ENTREPRENEURSHIP, MARKETING, MANAGEMENT Pages: 194-195 Issue №5143
SOCIO-PSYCHOLOGICAL NATURE AND CONTENT OF CORPORATE REPUTATION AND CORPORATE SOCIAL RESPONSIBILITY
initiatives
company
correlation
development
implementation
Show more
14. ECONOMICS AND NATIONAL ECONOMY MANAGEMENT, ENTREPRENEURSHIP, MARKETING, MANAGEMENT Pages: 212-214 Issue №10779
THE MECHANISM TO ACHIEVE SUSTAINABLE DEVELOPMENT OF THE ECONOMY OF DEPRESSIVE REGION
sustainable development
regional economy
Karachay-Cherkess Republic
Show more