What policies promote economic growth?

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Policies that promote economic growth encompass a range of strategies across fiscal, monetary, trade, regulatory, and social dimensions. Fiscal measures, including tax reforms and increased government spending on infrastructure and education, stimulate economic activity. In monetary policy, adjusting interest rates and managing the money supply influence borrowing costs and maintain stability. Trade policies, such as free trade agreements and reduced barriers, open up markets and encourage international economic cooperation. Business-friendly regulations, flexible labor market policies, and investments in infrastructure contribute to a conducive environment for entrepreneurship and investment.

Long-term growth will depend on investments in infrastructure, especially that which is focused on green energy and climate change, investments in human capital, science and technology, and promoting economic justice and equity. Such investments could be financed through public/private initiatives.

There is a school of economic thought that identifies a correlation between access to education, the formation of specialized human capital, and economic growth. The rationale behind this argument is that more specialized human capital contributes to innovation and increased productivity. Therefore, policies that contribute to economic growth related to the promotion of human capital are those that support access to education, encourage economic vocations considering geographical factors, natural resources, and market access, and develop capacities for technological innovation.

Thanks for inviting as economist I would like to emphasize on the following macro-economic and micro-economic policies to be further elaborated: 1-For poor countries they should Adopt Childbirth to puberty financial support policy of Macro-finance. 2-Macro-fiscal policy to eliminate national budget deficit 3-Macro-Monetary policies 4-AI technology-based approach to elaborate the pons and cons of economic policies. 5-The equal distribution of wealth which is concept of Baitul Mal that foster social welfare. 6-Productivity encouragement policies 6-Human capacity development and manpower and labor mobilization policies. 7-Interest free global financial system.

Physical capital increases must be balanced with human capital increases. When technological transformations reshape the national productive landscape, there is a constant temptation to overinvest in physical capital and underinvest in human capital, creating an imbalance that leads to future economic inefficiencies. Therefore, an economic policy aimed at promoting an increase in physical capital accumulation must concurrently address human capital policies to determine the specific amount of capital accumulation that can be effectively absorbed by a skilled labor force.

In today's tech driven world, economic growth is almost always dependant on the growth experienced by the Technology sector. Not only it promotes economic growth, it also allows individuals to earn precious foreign exchange

Les politiques qui favorisent le développement économique varient selon les contextes nationaux, mais généralement, elles incluent des mesures telles que les investissements dans l'éducation et la formation, le soutien aux petites entreprises, la promotion de l'innovation et de la recherche, la stabilité macroéconomique, des politiques fiscales favorables à l'investissement, et l'ouverture aux échanges commerciaux internationaux.

La tecnología es un impulsor clave del crecimiento económico. Políticas que fomentan la innovación y el desarrollo tecnológico crean un entorno propicio. Inversiones en investigación y desarrollo, así como incentivos fiscales para empresas tecnológicas, estimulan la creatividad y la competitividad. Facilitar la adopción de tecnologías avanzadas, como la inteligencia artificial y la digitalización, mejora la eficiencia empresarial. Además, políticas educativas que promueven habilidades tecnológicas impulsan la fuerza laboral. En el contexto de promover el crecimiento económico, las políticas orientadas a la tecnología son esenciales para avanzar en la economía digital y construir una base sólida para el futuro.

I think among the technologies AI is on the top which will rapidly transform the modern global economy to more predictive economy where economists and the countries will be able to prevent majority of the risks associated with business, which also will be helpful to prevent potential economic crisis. This will be different for countries. Which ever country rapidly regulate AI that country will take more advantage and rapidly develop its economy. But the very potential risk the AI poses to economies is the manpower losing jobs which will adversely affect the economies if not regulated quickly on time.

The economic literature identifies that the majority of the explanation for the long-term economic growth of countries that were poor and became rich is due to technological improvement, or what is called Total Factor Productivity.

In the realm of institutions, economic policy should steer clear of establishing extractive economic institutions that foster insecure property rights, impose entry barriers, and create an uneven playing field.

Las instituciones juegan un papel crucial en el fomento del crecimiento económico. Políticas públicas que fortalecen la gobernabilidad, transparencia y el imperio de la ley son fundamentales. Instituciones eficientes y sin corrupción crean un entorno propicio para la inversión y el desarrollo empresarial. Además, marcos regulatorios claros y justos brindan seguridad a los inversores. La existencia de instituciones financieras sólidas facilita el acceso al capital. En el contexto de promover el crecimiento económico, las políticas que respaldan y fortalecen las instituciones contribuyen a un ambiente propicio para la prosperidad económica y la estabilidad a largo plazo.

Les institutions jouent un rôle crucial dans le fonctionnement de l’économie et peuvent influencer la croissance économique de manière significative. Il est certain que la corruption peut entraver la croissance économique en décourageant investissement et en faussant la concurrence ou en savant la confiance dans les institutions publiques.

Encouraging the adoption of green technologies, which mitigate environmental impact, is crucial for promoting innovation, improving resource efficiency, and diminishing the ecological footprint of economic activities.

La integración de políticas medioambientales en la planificación económica promueve un crecimiento sostenible. Estrategias como inversiones en energías renovables y eficiencia energética contribuyen a la resiliencia económica y ambiental. La conservación de recursos naturales y la implementación de regulaciones para reducir la huella ambiental de las industrias respaldan un desarrollo equilibrado. Políticas que incentivan la innovación verde y la adopción de prácticas sostenibles benefician tanto a la economía como al medio ambiente. En este contexto, las políticas públicas que integran consideraciones ambientales son esenciales para construir un futuro económico que sea social y ambientalmente responsable.

Environmental policies, though often considered a cost, are tipped to drive economic growth. By encouraging innovation in clean technologies and resource efficiency, they create new markets and job opportunities. Additionally, a healthy environment attracts investment and tourism, boosting the economy further. While the short-term costs may exist, the long-term benefits of environmental protection outweigh the initial investment, leading to sustainable economic growth.

El intercambio comercial es un motor esencial del crecimiento económico. Políticas públicas que fomentan la apertura a mercados internacionales facilitan este intercambio. La reducción de barreras comerciales, como aranceles y restricciones, estimula la expansión de las exportaciones e importaciones, generando oportunidades y diversificación. La participación en acuerdos comerciales bilaterales y multilaterales fortalece las relaciones comerciales y amplía el acceso a mercados. Este flujo constante de bienes y servicios no solo impulsa la eficiencia económica, sino que también fomenta la competencia y la innovación.

For smaller, emerging countries, trade is the economic stepping stone. In addition to the benefits of goods and services diversity, trade expedites foreign investment and lessens brain drain. Engaging across trading partners is critical. This insulates from centralized risk. In the instance of a cluster of smaller economies with a similar tradable good (e.g. Caribbean mangoes), the region may further benefit as an economic/trading partner bloc.

Les politiques qui favorisent la croissance économique au niveau du commerce, vise généralement à encourager les échanges internationaux et à créer un environnement propice au commerce. Je pense particulièrement à la réduction des barrières tarifaires et non tarifaire, mais également aux accords commerciaux, bilatéraux et multilatéraux. Sans oublier la facilitation des échanges, la promotion des exportations et l’investissement dans les infrastructures commerciales.

Addressing inequality is vital for economic success. A fair distribution of wealth and opportunities is critical, as growing disparities erode belief in a better life. Just like companies need engaged employees, economies need inclusive policies. Policymakers must integrate equality into their strategies, fostering a thriving, equitable economy.

In today's world where economies are rapidly integrating into a "global village", the free flow of capital is essential to ensure that developing economies that have taken the time to improve their institutional frameworks and rule of law can attract foreign direct investment and capital inflow. While sovereign governments must protect indigenous industries, they must be aware that creating an avenue for foreign capital may be the very catalyst that will fuel their country's GDP growth rate.

Access to finance One think I consider helpful is to enhance access to finance for small and medium enterprises and marginalized community.

Closing health insurance coverage gaps and expanding equitable access to health care for all can do more than improve quality of life for low-income and underserved communities; they are also critical economic growth strategies. For example, a number of studies have demonstrated Medicaid expansion's overwhelming positive economic effects on various types of hospitals, health care clinics, and health care providers. In 2021, the Commonwealth Fund found that expanding Medicaid would expand the economies of what were then fourteen non-expansion states by $350 billion from 2022 to 2024. At the time of the study, expansion would have created more than 1 million jobs nationwide, with the largest gains in Texas (298,900) and Florida (134,700).

1-Citizens men and women alike will have the right to adequate means of subsistence 2-Ownership of the material resources of the society will be distributed and controlled in such a way that everyone will be benefited in the best possible way 3-The result of the implementation of the economic system should not be such that the concentration of wealth and means of production is against the interests of the general public 4-Production should be increased to the maximum possible extent so that higher levels of national and per capita income can be achieved 5-To achieve full employment 6- Reducing inequalities in income and wealth; And 7. To provide social justice.