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The purpose of this paper is to conduct a comparative analysis of monetization as a priority of the new monetary growth of the economies using the example of the Russian economy, identifying new trends in global practices of monetary factor management, as well as the search for ways to stimulate economic growth using the best international experience. Our paper tackles the novel research question of whether changing the priorities of monetary policy from targeting (and curbing) inflation to stimulating economic growth might yield more favorable economic results and what best world practices should be appropriately introduced in Russia to improve the effectiveness of monetary policy. The key results of the paper are focused on a comparative analysis of the economies’ development under the influence of monetary factors in comparison with the most progressive economies, the study of the best practices for increasing the monetization of national economies, and the identification of recommendations for determining the most optimal way to increase economic growth through the monetization of the economy. Monetarist views on the decisive role of fiat money in the development of the real sector of the economy, capital markets, payment and settlement systems, the standard of living of the population, and other important aspects of macro- and microeconomics have become the mainstream of government regulation. It seemed that by finding the right indicators of the relationship between interest rates, GDP, and inflation, all problems of economic growth could be solved. By increasing the amount of money faster than the achieved economic growth, it was believed that it was possible to stimulate GDP growth through monetary investments and credit, i.e., more money was issued than the value produced represented by the goods and services. Accordingly, new money that had no value had to create new value. We argue that monetization can be seen as the main factor in providing such incentives. Our results can be useful for central bankers, policymakers, and stakeholders in the banking and financial sector. The conclusions and recommendations of the authors are based on studies conducted using such research methods as content analysis, logical analysis, and statistical analysis.

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Despite the fact that since the beginning of the global financial crisis of 2008 nearly nine years has passed, the world economy has not come to a steady trajectory of development. In the article it is shown that the crisis has a systemic character and it is connected with the managing model. The fundamentals of methodology are represented by the analysis of dynamics of macro indicators of 10 leading economies of the world the contribution of which exceeds 61% of world GDP. In this research macroeconomic, demographic indicators, indicators of money supply, etc. were analyzed. In the research it was revealed that the current state of the world economy is characterized by a number of contradictions in the field of investments, demography, central government debts, and monetary regulation of all leading economies of the world. It is possible to cope with them within the existing economic paradigm thanks to the constant economic growth, the opportunities of which are almost exhausted within the developed managing model (called by K. Marx in "the bourgeois way of production" and the uniform, global market).

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