Theoretical Aspects of the Synergy of Macro- and Microeconomic Processes in a Period of Economic Instability
Year: 2024
Type: article
Abstract: The article examines the interconnection of macro- and microeconomic processes in times of economic instability, which is a key factor in the formation of a sustainable economic system. The authors analyze the impact of macroeconomic changes, such as inflation, currency fluctuations, fiscal and monetary policy, on microeconomic entities, such as enterprises, households and financial institutions. It is determined that instability at the macro level can lead to adaptation strategies at the micro level, including cost optimization, changes in business models and diversification of production activities. Considerable attention is paid to the analysis of synergy mechanisms between macro- and microeconomic processes that contribute to strengthening the anti-crisis resilience of the economy. The role of state regulation and institutional factors in ensuring a favourable environment for business in the face of economic shocks is emphasized. The approaches to harmonizing the interaction of macro- and micro-levels through stimulating innovation, developing digital technologies, supporting small and medium-sized businesses, and strengthening integration processes are proposed. The role of the financial sector in maintaining economic equilibrium and mechanisms to increase the resilience of the banking system in the face of instability are investigated. It is found that adaptive strategies of the enterprises can be effective under the condition of appropriate macroeconomic policy aimed at creating a stable investment climate and expanding access to credit resources. The article also considers the socio-economic impact of the crisis on employment and welfare, and emphasizes the importance of state support in ensuring social cohesion and economic security. The results of the study confirm that the effective synergy between macro- and microeconomic processes helps to minimize the negative effects of crises and create preconditions for sustainable development. The proposed recommendations can be used to develop economic policy strategies aimed at increasing the competitiveness and adaptability of the national economy and ensuring its dynamic growth.
Authors: Nataliiy ZGHADOVA, Yuriy RABOTIN, Anna PAVLENKO
Institution: Odesa National University of Technology
Language: English
Domain: Life Sciences
Open Access status: diamond
OpenAlex ID: W4410985227