Economic Policy and the Global Government

Running head: ECONOMIC POLICY AND THE GLOBAL GOVERNMENT
Economic policy and the global government
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1ECONOMIC POLICY AND THE GLOBAL GOVERNMENT
Table of Contents
Introduction:...............................................................................................................................2
Governmental policies to enhance the stability and growth of the economy:...........................2
Demand side policies:................................................................................................................3
Supply side policies:..................................................................................................................4
Policies taken by the Singapore:................................................................................................5
Conclusion:................................................................................................................................5
Reference:..................................................................................................................................7

2ECONOMIC POLICY AND THE GLOBAL GOVERNMENT
Introduction:
Gaining long term economic growth and stability in economy during the short run is
one of the essential factors that influence the governmental policies by a large extent. In order
to gain the same, government around the world utilise differentiated policies which are
mainly dependable upon the demand and supply side of economy (Agénor and Montiel
2015). This report is aimed to provide a detailed overview of the economic policies that the
respective government need to utilise in order to gain long run economic growth and short
run economic stability. In addition to this, explain the policies taken by the respective
government for the same, this report will focus on the Singaporean economy in order to trace
the implication of the policies so as to enhance the stability and growth of the economy
during short run and long run respectively.
Governmental policies to enhance the stability and growth of the economy:
Governmental policies in order to enhance the economic growth in long run and
stability of the economy during shot run government focus on aggregate demand and
aggregate supply. With enhancement in these two essential factors for the growth and
stability of the economy, government utilise the supply and demand side policies. Various
type of demand and supply side policies that are being utilised by the government are as
follows (Haggard and Kaufman 2018):
Demand side policies:
 Monetary policy
 Fiscal policy
Supply side policies:
 Tax cut, Free Trade Agreements (FTA), privatisation, deregulation and others
 Enhanced infrastructure, improved training and education