INSTITUTIONAL AND ORGANIZATIONAL ECONOMIC FACTORS OF EFFECTIVE ECONOMIC GROWTH

There is a considerable debate regarding the extent to economic growth is the most important macroeconomic indicator. Economic growth is defined and analyzed at the level of the global economy, national economy, its sectors, industries and regions. At any level, economic growth means an increase in the absolute value of production, the relative share of the population per capita and unit of expenditure (resources), and a qualitative improvement in its composition (commodity and product).