scholarly journals FISCAL POLICY AS AN ELEMENT OF SOCIO-ECONOMIC TRANSFORMATIONS

2018 ◽  
Vol 1 (2(14)) ◽  
pp. 129-135
Author(s):  
Valentina Dmytrivna Makogon ◽  
Iryna Petrivna Adamenko
Keyword(s):  
Economic Growth ◽  
Fiscal Policy ◽  
Policy Formulation ◽  
Economic Transformation ◽  
State Regulation ◽  
Strategic Objectives ◽  
Public Finances ◽  
Wide Range ◽  
Economic Transformations ◽  
Effective System

Urgency of the research. The forming-up of public finances effective system involves the improving fiscal policy as an important component of socio-economic transformation. Target setting. Currently, the important tasks are to prove the fiscal policy role in the social and economic reforms, to open its priorities and objectives, to identify ways to implement them. Actual scientific researches and issues analysis. A wide range of scientists publishing by such scientists as T. Boholib, О. Vasylyk, I. Zapatrina, L. Lysyak, I. Lukyanenko, V. Fedosov, I. Chuhunov and others are dedicated to development of fiscal policy formulation and implementation approaches, to define its priorities and directions to implement them. Uninvestigated parts of general matters defining. However, at this stage, despite the numerous important scientific researches it is important to deepen the researches of the fiscal policy role as part of the socio-economic transformations. The research objective. To substantiate the fiscal policy role as a component of socio-economic transformations, to define its priority tasks and directions of their implementations. The statement of basic materials. Fiscal policy is a powerful instrument of socio-economic processes state regulation. Currently, the main objective of fiscal policy is to stabilize public finances. The basic condition is to support the macroeconomic stability, to speed up the economic growth, to implement the effective governance, to strengthen decentralization processes and to reform the public finances system. Conclusions. Effective fiscal policy provides an opportunity to increase the level and quality of life, to create conditions for sustainable economic growth, to modernize the economy and social sphere, to achieve the strategic objectives of socio-economic development.

scholarly journals Financial stabilization in economic transformations

2019 ◽  
pp. 126-133
Author(s):  
Iryna Adamenko
Keyword(s):  
Economic Growth ◽  
Fiscal Policy ◽  
Development Strategy ◽  
Financial Stability ◽  
State Level ◽  
Transformation Method ◽  
Economic Transformation ◽  
The State ◽  
Independent State ◽  
Economic Transformations

Relevance of research topic. In the context of economic transformation, financial stability is a strategic objective of fiscal policy, which contributes to accelerating economic growth and revitalizing business activity in the country. Accordingly, ensuring effective influence on the social and economic processes of the public administration system involves reforming its components taking into account the globalization processes. Formulation of the problem. With the acceleration of the pace of financial and economic globalization, the issues of creating conditions for financial stabilization are being updated. An important direction in solving these issues at the state level should be to increase the effectiveness of fiscal policy. Analysis of recent research and publications. Issues of the formation and implementation of fiscal policy aimed at ensuring financial stability, acceleration of economic growth are presented in the papers of well-known domestic and foreign scientists: T. Bogolib, J. Buchanan, I. Zapatrina, G. Kucher, L. Lisyak, I. Lukyanenko, V. Makogon, P. Samuelson, J. Stiglitz, M. Pasichnyi, I. Chugunov and others. Selection of unexplored parts of the general problem. The mentioned questions are actualized in connection with the institutional transformations of the socio-economic model of the society’ development, which determine the need for increased effectiveness of fiscal policy. Much attention of financial institutions should be focused on ensuring financial stability and strengthening the stability of the financial system, strengthening its investment potential. Setting the task, the purpose of the study. The objectives of the study are to reveal the essence of the concept «financial stabilization», the definition of the peculiarities of the formation and implementation of fiscal policy in relation to its provision. The purpose of the study is to substantiate the strategic objectives of the fiscal policy on financial stabilization in the context of economic transformation. Method or methodology for carrying out the research. The article uses a set of methods of scientific research: system approach, structuring, analysis and synthesis, and others. Presentation of the main material (results of work). The essence of the concept «financial stabilization» is revealed, peculiarities of the formation and implementation of the fiscal policy concerning its provision are determined. The strategic tasks of fiscal policy concerning financial stabilization in the conditions of economic transformations are substantiated. The field of application of results. The results of this study can be used in the formation and implementation of fiscal policy in Ukraine. Conclusions according to the article. Ensuring financial stabilization is an integral part of the country's socio-economic development strategy. The tools of fiscal policy form a complex of financial and budgetary tactics. With their help, the implementation of the directions and tasks of the fiscal strategy is determined and the effectiveness of its implementation depends decisively. In the conditions of the formation of Ukraine as an independent state, the main reference point of fiscal policy was to ensure the solvency of the state as an instrument for creating conditions conducive to the revitalization of economic activity. At the current stage, the strategic goal should be to actively stimulate economic growth as the main instrument for ensuring financial stabilization through the rational management of public financial resources.

STRATEGY OF LIBERALIZATION AND PROBLEMS OF STATE REGULATION OF AZERBAIJAN ECONOMY

2019 ◽  
Vol 86 (3) ◽  
pp. 139-151
Author(s):  
G. Z. Yuzbashieva ◽  
A. M. Mustafayev ◽  
R. A. Imanov
Keyword(s):  
Economic Growth ◽  
Social Protection ◽  
State Intervention ◽  
Economic Transformation ◽  
State Regulation ◽  
Economic Relations ◽  
The Public ◽  
Private And Public ◽  
Sectoral Development ◽  
Market Relations

The indicators that determine the change in the macroeconomic situation in the economy of Azerbaijan in 2010–2017, as well as the conditions for increasing the effectiveness of state intervention in solving economic problems are analyzed. It is noted that it is not the size of the public sector that becomes important, but its qualitative component (management and redistribution of resources and revenues, coordination of government intervention in economic relations). The main reasons limiting economic growth are identified, and the mechanisms for overcoming them are disclosed, since economic growth is of particular importance in the transformational period of state development. It substantiates the assertion that the forms and methods of state regulation should be the result of a reasonable combination of the private and public sectors of the economy to more effectively achieve the goal of economic development of the country and increase the welfare of the population. To this end, it is advisable to limit the actions of market forces and find a rational ratio of market and government measures that stimulate economic growth and development.It is shown that in the near future the development of the economy of Azerbaijan should be focused on the transition to the integration of various models of economic transformation; at the same time, “attraction of investments” should be carried out by methods of stimulating consumption, and the concept of a socially oriented economy, which the state also implements, should prevail, thereby ensuring social protection of the population and at the same time developing market relations. Disproportions in regional and sectoral development are also noted, which are the result of an ineffective distribution of goods produced, inadequate investment in human capital, a low level of coordination and stimulation of economic growth and development.

scholarly journals ENTERPRISE RESOURCE MANAGEMENT

2021 ◽  
Author(s):  
Valentyna Khrapkina ◽  
Hanna Bondarenko
Keyword(s):  
Management System ◽  
State Regulation ◽  
The State ◽  
International Standards ◽  
Resource Saving ◽  
Economic Methods ◽  
Resource Protection ◽  
Wide Range ◽  
Effective System ◽  
Business Entities

The paper analyzes the organization of effective resource saving of the enterprise. Enterprises need to implement innovative technologies and tools, as well as to motivate all participants in the process to achieve high overall productivity. One of the ways to increase the efficiency and rationality of the activity is the introduction of the management system of development of resource saving enterprise (RSE). The EPR management system is influenced by external and internal factors. One of the main factors of the external environment is the state regulation in the direction of resource saving, because a small number of business entities can turn to the development of resource-saving enterprises without state support. Defined the concept of "resource saving" as a complex positive effect on the state of the company, which combines the economic, social and environmental factors, the result of the implementation of resource conservation is economically viable for the company. The process of resource saving at the enterprise positively affects a wide range of subjects who perceive its results. According to international standards, Ukraine's economy is one of the most resource-intensive in the world through a large proportion of resource-intensive industries, outdated and inefficient technology, extreme depreciation of assets, inefficient systems of transformation and energy supply. World experience in the development and implementation of resource saving programs has a great variety of mechanisms and economic methods to ensure the efficiency of resource consumption in all areas of economic activity. The article highlights the most effective methods and applied to the realities of Ukraine. The study revealed the main problems of Ukrainian enterprises in the management of resource protection and development of resource protection. Today, finding ways of solving these problems and determining the main ways of stimulating enterprise teams and personnel management is especially important for the formation and implementation of an effective system of resource-saving development.

scholarly journals Formation of budgetary policy in the conditions of economic transformation

2021 ◽  
pp. 202-209
Author(s):  
Tatiana Kanyeva
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Fiscal Policy ◽  
Policy Development ◽  
Systematic Approach ◽  
Economic Transformation ◽  
Economic Relations ◽  
Budgetary Policy ◽  
Budget Policy

Relevance of the research topic. The implementation of an effective budget policy for the formation and implementation of the budget in the system of financial and economic relations plays an important role in the process of regulating the socio-economic development of the country. In the conditions of transformational transformations, budget policy is an important tool for the influence of public administration bodies on socio-economic processes. Improving the soundness of fiscal policy requires the application of a systematic approach given the importance of development and coordination of financial and budgetary institutions. Formulation of the problem. The importance of budget policy development in the conditions of transformational transformations is conditioned by the necessity of substantiation of conceptual provisions of coordination of components of financial and budgetary policy taking into account dynamism and cyclicity of economic processes. At the same time, when forming and executing the budget in order to ensure dynamic balance, an important condition is compliance with the principles of transformation, which determine the basic model of ensuring financial and budgetary stability and balance. Analysis of recent research and publications. The issue of budget policy development is quite common in research. These are the works of famous domestic and foreign scientists: J. Keynes, P. Samuelson, J. Stiglitz, S. Kucherenko, L. Lysyak, L. Levaeva, I. Lukyanenko, V. Makogon, M. Pasichny, I. Chugunov and others. Selection of unexplored parts of the general problem. The above issues are relevant in connection with the deepening of the processes of transformation. An important task is to increase the stability of the budget system, which will help create conditions for macroeconomic stability and sustainable economic growth. It is advisable to develop tools for budget regulation. Problem statement, research goals. The objectives of the study are: to reveal the role of budget policy of economic growth, to substantiate the peculiarities of the formation and implementation of budget policy. Carry out an analysis and assessment of the revenue and expenditure side of the state budget. The purpose of the study is to reveal the directions of budget policy in the conditions of transformational transformations. Method or methodology of the study. The article uses a set of research methods: a systematic approach, statistical analysis, structuring, analysis, synthesis, etc. Presentation of the main material (results of work). The role of budget policy of economic growth is revealed, the peculiarities of formation and implementation of budget policy are substantiated. The directions of budget policy in the conditions of transformational transformations are substantiated. Field of application of results. The results of the study can be used in the process of formation and implementation of financial and budgetary policy of Ukraine, reforming the public finance system and its components. Conclusions in accordance with the article. Fiscal policy is an effective tool of macroeconomic regulation, volatility of economic development and dynamism of social processes determines the need to develop new approaches to budget formation and implementation in the system of financial and economic relations in order to strengthen the regulatory financial and budgetary mechanism to stimulate economic growth. It is important to have a mutually agreed combination of components of the financial and budgetary mechanism, which will help optimize the budget architecture and ensure the innovative direction of economic development. The main prerequisites for ensuring a quality level of budget architecture are the effectiveness of approaches to institutional support for the development of the budget environment.

scholarly journals Financial strategy in the conditions of economic transformations

2021 ◽  
pp. 190-196
Author(s):  
Iryna Adamenko
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Financial System ◽  
Well Being ◽  
Economic Transformation ◽  
Financial Strategy ◽  
Economic Transformations ◽  
Social And Economic Development ◽  
The Impact

Relevance of the research topic. In the conditions of economic transformations the financial strategy acts as the important economic lever of influence of public administration bodies on social and economic development of the country. The assessment of the mechanism of financial regulation in Ukraine indicates the need to develop the components of the financial system in conjunction with the transformational economic processes and the development of a sound financial strategy in accordance with the goals and objectives of social development. Formulation of the problem. The importance of developing a financial strategy in the context of economic transformation is due to the need to take into account the impact of internal and external challenges in the financial and economic environment, economic fluctuations due to the spread of the coronavirus pandemic. At the same time, the choice of financial strategy tools should be made taking into account the level of economic development of the country. Analysis of recent research and publications. The issue of developing a financial strategy is quite common in research. These are the works of famous domestic and foreign scientists: J. Keynes, P. Samuelson, J. Stiglitz, W. Tanzi, S. Kucherenko, L. Lysyak, L. Levaeva, I. Lukyanenko, V. Makohon, M. Pasichny, I. Chugunov and others. Selection of unexplored parts of the general problem. The above issues are relevant in connection with the deepening of economic transformation, the adverse impact of the Crown virus pandemic on the financial sector, which requires a number of specific tasks related to the development of financial strategy. Problem statement, research goals. The objectives of the study are: to reveal the role of financial strategy in the regulation of socio-economic processes, to substantiate the peculiarities of the development of the components of the financial system. The purpose of the study is to reveal the directions of financial strategy in the context of economic transformation. Method or methodology of the study. The article uses a set of research methods: a systematic approach, statistical analysis, structuring, analysis, synthesis, etc. Presentation of the main material (results of work). The role of financial strategy in the regulation of socio-economic processes is revealed, the peculiarities of formation and implementation of financial strategy are substantiated. The directions of financial strategy in the conditions of economic transformations are substantiated. Field of application of results. The results of the study can be used in the process of formation and implementation of financial policy of Ukraine, reforming the domestic financial system and its components. Conclusions in accordance with the article. The qualitative level of formation and implementation of financial strategy is determined by the system of financial institutions, the state of their development in a particular country aimed at ensuring economic growth and welfare of citizens. The functional purpose of financial strategy is the result of the evolution of the role and importance of state functions in socio-economic development. Depending on the dynamics of socio-economic processes, the tasks of the financial strategy and the tools for its implementation should be adjusted. The financial strategy in the conditions of economic transformations should be directed on formation of long-term potential of economic growth and increase of well-being of the population taking into account demographic tendencies and indicators of the macroeconomic forecast of social and economic development of the country.

scholarly journals On the “Anthropogenic” Foundations and Incentives for Economic Development

2020 ◽  
Vol 17 (5) ◽  
pp. 4-15
Author(s):  
O. V. Alekseeva ◽  
A. B. Sannikova ◽  
R. V. Chernyaeva
Keyword(s):  
Economic Growth ◽  
Institutional Economics ◽  
Structural Characteristics ◽  
Social Indicators ◽  
State Regulation ◽  
Social Market Economy ◽  
Modern World ◽  
Economic Science ◽  
Economic Transformations ◽  
Demographic Policy

Purpose of research. The purpose of this article is to implement applied social indicators as the means of research, collection and processing of statistical and practical information. The article analyzes the guidelines and measures of the real effectiveness of state regulation and economic transformations that determine the prospects for implementing demographic policy on the example of the Krasnodar territory.The search for constructive solutions to the accumulated social problems of “saving the nation” is the subject of the most active and close attention of society, while social guidelines and indicators of the functioning of the economy remain unobvious, outdated, or even completely harmful, as, for example, the usual indicators of the SNA.For more than a quarter of a century, it has been known fr om a World Bank study conducted on the example of 192 countries of the modern world that 64% of economic growth is provided by human and social capital. It is also obvious that the quality of human resources is becoming the main factor for ensuring a competitive economy. Only with regard to demographic factors and structural characteristics of the demographic potential, the harmonization of the economic growth model with the solution of socio-demographic problems, it is possible to modernize the economy. Meanwhile, according to most experts, including the Institute of Socio-Economic Studies of Population of Russian Academy of Sciences, at least another ten years, population of Russia will decrease and in parallel, to worsen the situation with people's health.Materials and methods. Methodological conclusions and fundamental principles of modern economic science, including institutional economics, demography, social modernization, adaptation, and social market economy, are used instrumentally in this work.The information is based on analytical materials and official statistical data of institutions and departments of the Russian Federation, international economic organizations, expert assessments and periodical press data. The research is based on the socio-economic processes of the last decade in the Krasnodar territory, where frightening indicators of natural population growth have been recorded in recent years.Results. Generalizations and conclusions are important for the development of the economic program to overcome the socio-economic crisis, economic policy, and the choice of priority directions for the development of national and regional economy. The results obtained can serve as a further development of research on the use of an institutional approach to the analysis of economic transformations and problems of state regulation of the social sphere.Conclusions. The study analyzes the demographic state of the Krasnodar territory and lists the main weaknesses and reasons for the current demographic policy of the region. The study reveals the dependence of the consolidated budget of the region on the gross regional product and the average annual population, and provides recommendations for preserving and increasing the population of the Krasnodar territory.

scholarly journals FISCAL STRATEGY AS AN INSTRUMENT OF ECONOMIC GROWTH

2019 ◽  
Vol 5 (3) ◽  
pp. 213
Author(s):  
Igor Chugunov ◽  
Valentina Makohon
Keyword(s):  
Economic Growth ◽  
Fractal Dimension ◽  
Fiscal Policy ◽  
Public Debt ◽  
Developed Countries ◽  
Economic Transformations ◽  
Gdp Gap ◽  
Macroeconomic Stability

The purpose of the article is to justify the role of the fiscal strategy in ensuring macroeconomic stability and accelerating the pace of economic growth, disclose and substantiate its key objectives in the developed and transformational economies. The comparative and factor method allowed revealing the essence and role of the fiscal strategy as an instrument of economic growth, identifying peculiarities and substantiating approaches to the management of uncertainty of fiscal strategies, revealing the principles of the formation of the fiscal strategy and medium-term budget planning in Ukraine. Methodology. The substantiation of the role of the fiscal strategy in ensuring macroeconomic stability and accelerating the pace of economic growth, and definition of its key objectives are based on the generalization and systematization of the experience of countries with a developed and transformational economy. For this purpose, the analysis and evaluation of the fiscal policy were made, the peculiarities of the formation and implementation of fiscal strategies in the corresponding countries were determined. Results have shown that in developed countries, the GDP gap concept is used in order to use fiscal policy for countercyclical purposes. Budget sustainability is characterized by the ability of state and local government bodies to timely and fully finance budget expenditures and to support the share of budget deficits and public debt in the gross domestic product at an economically sound level. Budgetary stability is the constancy of budget architectonics in time. The essence of budget architectonics is the optimal ratio of budget, tax, social, monetary, and public debt components of the fiscal policy, which is a dynamic institutional process of its development and implementation in the relevant socio-economic conditions of the country’s development. At an appropriate level of budget stability, the level of fiscal burden on the economy does not increase. Fiscal equilibrium – consistency of budget revenues and expenditures. Practical implications. The benchmark of the fiscal strategy in terms of economic transformations should be to ensure macroeconomic stability and accelerate the pace of economic growth by increasing the soundness of budget architectonics. Value/originality. Strengthening the influence of endogenous and exogenous factors on the financial and economic environment of the state, and negative demographic tendencies on the development of society necessitate the development of a fiscal strategy as a dynamic self-organizing one with a fractal dimension and scale, the system of long-term financial and economic measures, goals, principles, directions, tasks that are implemented by public administration, in a multiaspect dimension: budget transformations, configurations of fiscal institutions, socio-economic transformations. The fractal dimension implies the formation of a system of long-term financial and economic measures, goals, principles, directions, tasks of the country’s fiscal policy based on the subsystems of the fiscal policy of regions with similar features, which will provide an opportunity to ensure consistency of actions of state authorities and local self-government bodies, constituents of the fiscal policy. The validity of the fiscal strategy determines the level of effectiveness of socio-economic transformations. In terms of economic transformations, budget architectonics, the institutional features of its formation are becoming increasingly difficult to assess in both developed and transformational economies.

Transhumants and Rural Change in Northern Greece Throughout the Nineteenth Century

2020 ◽  
pp. 1-35
Author(s):  
Fatma Öncel
Keyword(s):  
Nineteenth Century ◽  
Economic Transformation ◽  
Primary Sources ◽  
Northern Greece ◽  
Rural Change ◽  
Economic Context ◽  
Wide Range ◽  
Economic Transformations ◽  
Local Actors ◽  
Substantial Change

Abstract This article examines the sedentarization of transhumants in northern Greece within the context of the political, legal, social, and economic transformation of the region that occurred throughout the nineteenth century. Based on a wide range of primary sources, this research conducts a chronological survey of the local actors, events, and institutions with reference to a broader political and economic context. It emphasizes that, in the first half of the century, a provincial-elite regime and imperial policies did not create substantial change in transhumance. In the 1860s, however, economic transformations at both imperial and global levels did accelerate change in the region's land and labour regimes. In response, regional landholders began to institute sedentarization, adopting various legal and economic means based on strategies including negotiation, persuasion, and compulsion.

scholarly journals BORYS E. KVASNYUK ON THE DEPENDENCE OF ECONOMIC GROWTH ON THE LEVEL OF SAVINGS

2019 ◽  
Vol 2019 (5) ◽  
pp. 79-86
Author(s):  
Iryna KRIUCHKOVA ◽  
Keyword(s):  
Economic Growth ◽  
Capital Accumulation ◽  
State Regulation ◽  
The State ◽  
External Financing ◽  
External Shocks ◽  
Role Of The State ◽  
Wide Range ◽  
High Scientific Level ◽  
The Impact

The article is devoted to outstanding scientist Boris E. Kvasniuk, who in his research focused on a wide range of topical issues of economic growth, increased efficiency of the state regulation of the economy, made a significant contribution to the theory of economic growth, and scientifically substantiated the basic structural proportions of GDP to ensure a stable investment in Ukraine’s economic growth. The theoretical and methodological foundations of the formation of the national savings, their specifics for various institutional sectors of the economy, the impact of government policies on the level of consumer spending in GDP and gross capital accumulation were presented in his works at a high scientific level. Borys E. Kvasnyuk identified the reasons for the volatility of gross savings and the high dependence of the economy on external financing and external shocks in Ukraine. Long before the new crisis of 2009, he warned about the need for the state support of domestic producers until they improve their competitiveness to a level ensuring a balance in foreign trade in goods and foreign exchange stability. He also foresaw that subsequently the overseas income of Ukrainians would become a factor in balancing the current account of the balance of payments, while the revenues from foreign direct investment would be a factor in its deterioration and would increase the dependence of Ukraine’s economy on external factors. Kvasnyuk’s works remain relevant for new generations of researchers as they reveal the fundamental principles of economic development and the role of the state in supporting the macroeconomic equilibrium.

Analysis of tax-spend nexus for Russian regional budgets

2020 ◽  
pp. 5-29
Author(s):  
Evsey T. Gurvich ◽  
Natalia A. Krasnopeeva
Keyword(s):  
Economic Growth ◽  
Fiscal Policy ◽  
Causal Relationship ◽  
National Economy ◽  
Federal Budget ◽  
Fiscal Rules ◽  
Fiscal Discipline ◽  
Federal Level ◽  
Regional Budgets ◽  
Econometric Technique

We study the tax-spend nexus for Russian regional budgets. Causal relationship running from taxing to spending is found, thus supporting the concept “tax and spend” suggested by M. Friedman. Next, elasticity of expenditure by revenue is estimated for a panel of 80 regional budgets basing on data for 2000—2017. Estimates are in the range of 0.72 to 0.78 (depending on the econometric technique), which exceeds elasticity for the federal budget more than twice. This evidences that fiscal policy at the sub-federal (as distinct from the federal) level has clear pro-cyclical nature. Besides, the largest sensitivity of expenditure to revenue shocks is found for the item “national economy”, implying marked adverse implications for economic growth. We suggest to mitigate this effect by modifying fiscal rules for sub-federal budgets. They are currently aimed primarily at enhancing fiscal discipline, with less emphasis on countercyclical policy, insulating economy from fiscal shocks.

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