ANALYSIS OF THE CAUSE-EFFECT RELATIONSHIPS OF THE REAL AND FINANCIAL SECTORS OF THE WORLD ECONOMY
The article is analyzed the cause-and-effect relationships of the real and financial sectors of the world economy. The methods of analysis of cause-effect relationships instability of the global economy are offered. It were checked two hypotheses: the shocks of real sector are not the cause of the monetary sector shocks, and shocks of monetary sector are not the cause of the real sector shocks. The empirical analysis of causal relationships real and monetary sectors of the economy was made. The monetary sector shocks is more likely as cause of shocks of real sector compared with the hypothesis that the real shocks are causes of monetary sector shocks was proved by the empirical analysis.