The real sector of the economy is one of the central objects of economic regulation in the country. It is an industry that produces material wealth. This public sector of the economy is also associated with the production of intangible goods of industrial or strategic purpose. These sectors, in particular, include fishing, agriculture, manufacturing and mining, energy distribution and production, construction, communications and transportation.
The real sector of the economy belongs to the macroeconomic block. Stimulating, stabilization and anti-crisis regulation may be applicable to it.
Crisis management is a set of methods, forms and management tools aimed at forecasting and analysis of crisis processes. The purpose of this type of management is also to reduce the negative consequences of the crisis, as well as the use of accumulated information for further development.
Crisis management (in accordance with the structural approach) is a system containing some characteristic components. In particular, among the elements it is worth highlighting: goals and objectives, priorities, subjects and objects, risk identification and control over the results of the anti-crisis regulation. It should be noted that the content and nature of the elements of the specified control system determine its (system) effectiveness.
Priorities are strategic guidelines for regulation. Using priorities, an impact is made on the real sector of the economy. These strategic guidelines should correlate all the actions taken by the authorities.
Tasks and goals are determined based on prioritized priorities.
The objects of anti-crisis regulation include whole complexes or economic processes, as well as individual economic agents that are affected by management tools.
The subjects are the executive authorities, credit organizations, banks of the country, central and commercial banks, funds and development institutions.
Development and support areas are strategic areas of regulation. They proceed from the intended goals and objectives, as well as from the declared priorities. The enlarged areas of development and support include the formation of financial incentives for enterprises, the development of entrepreneurship (medium and small), measures to stimulate domestic demand, including state and consumer ones. The strategic areas also include stimulating the labor market, improving competitive conditions, developing science and human resources, as well as increasing innovative capital.
In accordance with the degree of influence on the real sector of the economy, all directions can be divided into indirect and direct.
Crisis management methods are certain techniques for the implementation of the intended areas and goals. So, for example, lowering the burden on entrepreneurship can be achieved by reducing administrative, tariff, and tax impacts.
Practical methods of influencing the real sector of the economy are referred to crisis management instruments. For the implementation of anti-crisis regulation, the government has various tools that relate to different types of policies. In particular, this includes administrative, exchange rate and macroeconomic, customs and tariff and industrial, investment and monetary, tax and budget policies. In accordance with the degree of influence on economic agents, all instruments are classified into indirect and direct.