A self-managed fiscal system and the allocation function of fiscal policy

The article considers the problem of reforming national finances at the present stage of economic development, taking into account the features of the functioning of the national economy and fiscal threats. The purpose of this work is to determine the strategy for reforming the fiscal system and substantiate the main directions of its development. The relevance of the study is due to an integrated approach to the formation of fiscal policy, including both its main components: tax, budget, debt policies, and the need to improve the mechanism to ensure their effectiveness. To implement this mechanism, it is necessary to use both innovative methods of planning and forecasting fiscal flows, and to modernize the legal framework that strengthens the foundations of managerial decisions in the field of finance. Based on the goal, a comparative assessment of the forecast and actual scenarios of the development of fiscal relations in the republic was carried out, the most acute points of fiscal policy formation were analyzed: social payments, tax administration, budget financing, debt obligations, information support for the movement of financial flows. Based on the results of the research conducted in the article, conclusions and suggestions are made regarding all areas of improving fiscal policy as the basis for ensuring an effective national financial management strategy. Priority measures have been identified to reduce the negative impact of risks on the stability of the fiscal system. Instruments of regulatory impacts on negative economic and social trends are determined by the choice of areas of strategic management and the mechanism of their organizational support. Scientific novelty lies in the substantiation of a set of elements of fiscal policy as the basis for developing a strategy for managing national finances that takes into account the increase in the social and economic efficiency of using the financial resources of the state.

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PROBLEMS OF FISCAL POLICY MANAGEMENT IN A CRISIS ECONOMY

The herald of KSUCTA n a N Isanov ◽

10.35803/1694-5298.2020.4.627-633 ◽

2020 ◽

pp. 627-633

Author(s):

K.D. Birimkulova ◽

N.M. Dooronbekova ◽

S. Chorobekova

Keyword(s):

Fiscal Policy ◽

Market Economy ◽

Tax Administration ◽

Policy Management ◽

Fiscal System

The article examines the problems of the fiscal system associated with uneven taxation of various industries and types of enterprises, as well as the possibility of effectively promoting the reform of tax administration in a market economy.

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The State and Tax Competition

Taxation ◽

10.1093/oso/9780199609222.003.0012 ◽

2018 ◽

pp. 203-223 ◽

Cited By ~ 1

Author(s):

Peter Dietsch

Keyword(s):

Fiscal Policy ◽

Tax Competition ◽

The State ◽

Regulatory Framework ◽

Mobile Capital ◽

Fiscal System ◽

Normative Response

Governments increasingly use their fiscal policy to attract mobile capital from abroad. This tax competition puts a strain on the international fiscal system by undermining the capacity of states to make autonomous fiscal choices and by exacerbating inequalities. The existing regulatory framework is not able to address these challenges. Yet, what considerations should guide our efforts for reform? This chapter argues that a first necessary step consists in understanding the principles that justify the state as the principal locus of fiscal control in the first place. Building on an account of the legitimacy of the state and its fiscal powers, the chapter shows how tax competition is in tension with the principal objectives this account assigns to the state. It then outlines a normative response to tax competition that relies on both reforming jurisdictional rules and redistribution between states.

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Fiscal policy and foreign trade as a determinant of economic development – focus Kosovo

International Journal of Finance & Banking Studies (2147-4486) ◽

10.20525/ijfbs.v8i3.497 ◽

2019 ◽

Vol 8 (3) ◽

pp. 77-87

Author(s):

Arben Tërstena ◽

Ismail Mehmeti ◽

Sokol Krasniqi

Keyword(s):

Economic Development ◽

International Trade ◽

Fiscal Policy ◽

Foreign Trade ◽

Policy Instruments ◽

Foreign Market ◽

The State ◽

Fiscal System ◽

Balkan Countries

Fiscal policy and foreign trade as a determinant of economic development – focus Kosovo Abstract Purpose: The purpose of this paper is to identify the role of fiscal policy in Kosovo, comparing with the Western Balkan countries, in the trends of economic development, which are related to the international market, and how to achieve the objectives of the economy of Kosovo, penetrating the foreign market of local companies, using fiscal policy instruments. Design / methodology / approach: data processing is performed using deductive-analytical methods, describing and comparing research findings by commercial companies, extracting data and comparing official reports of national and international institutions on the role of policies analysis in the Western Balkan countries and in Kosovo, and the results of the research are based on these analyzes. Findings: Each sovereign state has its own fiscal policy operating within the fiscal system of that country, which also influences the development trends of international trade, the same applies to Kosovo and the Western Balkan countries, where this policy includes customs tax, VAT, tax in personal income, etc. The government of the country, through fiscal policy instruments creates conditions for companies to be as present in the foreign market as possible with their products, which impacts on the overall economic development of the country. achieved. Practical implications: the paper provides insights into the state of the fiscal system in Kosovo, how fiscal policy affects the creation of conditions for foreign trade development, where is Kosovo's economy is in relation to the Western Balkan countries and what are the steps needed to improve it. Originality / value: the paper provides real data on the state of the fiscal system in Kosovo and its full role in the development of foreign trade in relation to the Western Balkan countries. Key words: Fiscal policy, international trade, international agreements, fiscal system, economic development, development policy measures, etc.

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DESENTRALISASI FISKAL KONTEMPORER DALAM PERSPEKTIF KEBIJAKAN PUBLIK ISLAM

Journal of Innovation in Business and Economics ◽

10.22219/jibe.vol4.no1.1-12 ◽

2014 ◽

Vol 4 (1) ◽

pp. 1

Author(s):

Any Setianingrum

Keyword(s):

Public Sector ◽

Fiscal Policy ◽

Income Distribution ◽

Private Sector ◽

Voluntary Sector ◽

Optimum Allocation ◽

Institutional Framework ◽

Fiscal System ◽

Islamic Economic

One of the essential instruments designed for achieving the goals of sharia in Islam is fiscal policy. There are some key elements of Islamic fiscal theory, namely: 1) Islamic Economics, which comprises private sector, social/ voluntary sector, and public sector. The collaboration of these three sectors would provide an ideal Islamic economic institutional framework; 2) Zakat (taxation of income and wealth of a Muslim) as the basis of fiscal system; 3) Implementation of all fiscal instruments which disallow exploitation that results in usury (riba), uncertainty (gharar ), speculation, sinful (haram) products / services and all forms of meanness. 4) Allocation, distribution and stabilization functions of Islamic economics is administered and presented through all the sectors cooperatively; 5) Public sector does not affect significantly yet essential on condition that it works continuously to ensure optimum allocation of society resources, income distribution, and stability establishing

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Analysis of Fiscal Rules in the European Monetary Union

Journal of Central Banking Theory and Practice ◽

10.1515/jcbtp-2015-0002 ◽

2015 ◽

Vol 4 (1) ◽

pp. 19-33 ◽

Cited By ~ 1

Author(s):

Damir Šehović

Keyword(s):

Fiscal Policy ◽

Policy Coordination ◽

Fiscal Rules ◽

Fiscal Policies ◽

Convergence Criteria ◽

Member States ◽

Growth Pact ◽

Fiscal System ◽

The Stability ◽

The Eu

Abstract : The EMU fiscal system is specific in many areas compared to other classic fiscal systems of national states. Specific features mainly reflect in the implementation of economic policy within the EMU which is carried out by combining a common centralized monetary policy under the ECB jurisdiction and decentralized fiscal policies under the jurisdiction of the member states. The member states` sovereignty in governing their fiscal policies is one of the key causes of the EU fiscal system underdevelopment, i.e. its indigent structure in relation to “standard fiscal systems”. More indigent structure of the EU fiscal system is reflected in the fact that it consists of only three segments. The first one refers to the EU budget which is also the only instrument for implementing fiscal policy at the supranational level. The second one refers to the harmonization of taxation systems in accordance with inputs and other legislation adopted at the EU level with the aim of fostering the single internal market. Finally, the third segment refers to the fiscal policy coordination of the EMU member states related to appropriate fiscal rules, which mainly stem from the Maastricht convergence criteria and the Stability and Growth Pact.

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KEBIJAKAN FISKAL MASA AL-KHILAFAH AL-ISLAMIYAH

Asy-Syari ah ◽

10.15575/as.v22i2.9116 ◽

2021 ◽

Vol 22 (2) ◽

pp. 291-312

Author(s):

Supriatna Supriatna ◽

Dedah Jubaedah

Keyword(s):

Fiscal Policy ◽

Management System ◽

The State ◽

State Budget ◽

Historical Method ◽

Fiscal Management ◽

Fiscal System ◽

Budget Policy ◽

Balanced Budget ◽

Culture And Development

Abstract: This article describes the policy of the Islamic fiscal management system managed by the state with the aim of improving the people welfare during the Khulafa ar-Rasyidin era. This study uses a normative historical method and an exploratory approach that refers to various relevant literatures and is analyzed qualitatively. This research shows that the culture of the Islamic fiscal management system during the Khulafa ar-Rasyidin era tended to continue the Prophet's culture and development which included a balanced budget policy, as evidenced by the instruments of zakat, ghanimah, kharraj, jizyah, waqf, and others, and distributed for the welfare of society. The policy of managing the Islamic fiscal system is now widely used as a reference for developing a modern fiscal system. This result of this study found that the policy of the Prophet Muhammad regarding on fiscal management was continued by Khulafa ar-Rasyidin, which was a representation of the principles of public spending in the social, political, economics, and security context, whose it was based on the principle of a balanced budget policy. And then, the utilization of zakat, jizyah, kharaj, ghanimah, and waqf instruments as the sources of the state budget at this period, illustrating the dynamics of the caliph's fiscal policy progressively during the Khulafa ar-Rasyidin era, which was succeeded in bringing the Muslims to be in the golden age. Unfortunately, after the fall of the Abbasid Dynasty and continued to the colonialization period, Islamic fiscal policy was also declined.

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The intergovernmental relations and their regulation in the context of decentralization of fiscal policy

E3S Web of Conferences ◽

10.1051/e3sconf/202128002010 ◽

2021 ◽

Vol 280 ◽

pp. 02010

Author(s):

George Abuselidze

Keyword(s):

Fiscal Policy ◽

Political System ◽

Intergovernmental Relations ◽

Economic Relations ◽

Economic Problems ◽

Effective Implementation ◽

Global Pandemic ◽

Fiscal System ◽

Optimal Allocations ◽

Research Analysis

The suspension of economic relations as a result of the global pandemic has severely affected the country’s peripheries. Unequal development of territorial units and overcoming socio-economic problems is the biggest challenge of any country. To address these challenges, the country needs to mobilize large amounts of finance and make optimal allocations. Intergovernmental relations play an important role in the effective implementation of the transformation of the country’s economic and political system. The aim of the paper is to study the characteristics of revenue mobilization and distribution between the levels of the fiscal system. There are developed some recommendations for improving inter-budgetary relations based on the experience of different countries. The recommendations proposed as a result of the research analysis can be used for both theoretical (for lecture) and practical (for legislative) purposes.

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