FINANCIAL RESOURCES OF HOUSEHOLDS AS A COMPONENT OF ECONOMIC GROWTH OF THE NATIONAL ECONOMY

2017 ◽  
Author(s):  
Olga Kremen ◽  
◽  
Viktoriia Kremen ◽  
Anastasiia Kulsha ◽  
Ielyzaveta Vakhnenko ◽  
...  
Keyword(s):  
Economic Growth ◽  
National Economy ◽  
Inverse Relationship ◽  
Correlation Coefficients ◽  
The State ◽  
Financial Resources ◽  
Public Confidence ◽  
Household Savings ◽  
State Budget ◽  
The Impact

The financial resources of households, provided they are involved in the financial sector, can be a significant basis for investment, production development, and economic growth. The purpose of the article is to identify the impact of forming investment potential based on the population's savings to ensure the economic growth of the national economy. The composition, size, and structure of households were analyzed in the work. The amount of household savings is mostly influenced by the demographic situation and the number of households. During 2010-2018, the average household size in Ukraine did not change significantly. It amounted to 2.58 people, while the number of households decreased significantly to 2064.4 thousand, reduce the share of people living in urban settlements. In 2019, the downward trend in households' number was maintained with the same structure of urban and rural households. The correlation coefficients calculated in the process of the correlationregression analysis show that there is a very close direct relationship between the volume of savings and expenditures of households and GDP, the volume of sold industrial products, revenues and expenditures of the state budget; there is a moderate inverse relationship between household savings and expenditures and government budget imports and deficits; there is a weak inverse relationship between household savings and expenditures and public debt. Ukraine has objective preconditions for the formation of household savings and their transformation into investments. The main tasks for increasing the role of household savings in the growth of the national economy are the following: to restore public confidence in financial institutions; strengthening the institutional protection of savings by maintaining the liquidity of banking institutions, and ensuring the functioning of the state deposit guarantee system; ensuring the development of the savings market as a socio-economic mechanism for mobilizing the population's money savings and transforming them into investments for the national economy.

ISSUES OF THE RELATIONSHIP BETWEEN THE STATE BUDGET AND ECONOMIC GROWTH IN UZBEKISTAN

2021 ◽  
Vol 4 (7) ◽  
pp. 4-19
Author(s):  
Akmal Baltayevich Allakuliev ◽  
Keyword(s):  
Economic Growth ◽  
The State ◽  
Rate Of Return ◽  
State Budget ◽  
Macroeconomic Shocks ◽  
Dynamic Correlations ◽  
Short And Long Term ◽  
The Impact ◽  
The Relationship

The article examines the interaction of the country's GDP with the state budget in the short and long term, the impact of the macro-fiscal mechanism on the country's economic growth on the example of Uzbekistan.The aim of the study is to identify dynamic correlations between the country's state budget expenditures and the economic growth of the macro-fiscal mechanism in the short and long term, as well as to analyze the approximation or rate of return of GDP and the state budget to equilibrium during various macroeconomic shocks. and hesitation.The scientific novelties of the research are:

scholarly journals Financial System of Russia: Approaches to Assessment of Impact on the National Economy

2020 ◽  
pp. 072-082
Author(s):  
A. V. Lebedev ◽  
◽  
E. A. Razumovskaya ◽  
Keyword(s):  
Economic Growth ◽  
National Economy ◽  
Financial System ◽  
The State ◽  
The Russian Federation ◽  
Main Factors ◽  
The Impact ◽  
Qualitative Characteristics ◽  
Qualitative Changes

An attempt is made to analyze the Russian financial system based on the existing international OECD methodology according to the Central Bank of Russia. The modern controversial views on the concepts of the impact of the financial system on economic growth, existing in the world financial science, are presented. The fundamental theories of economic growth in the format of production functions and the author’s interpretation of macroeconomic identity are presented; the role of labor and capital in economic growth, as the main factors subject to qualitative changes to the greatest extent, is noted. As an intermediate result for the analysis of the financial system of the Russian Federation, a coefficient is proposed that allows one to potentially analyze the influence of the qualitative characteristics of the state of the financial system on the socio-economic development of the national economy. The hypothesis about the influence of the financial system on the state of the national economy has been confirmed.

scholarly journals Features of formation of the state budget security

2019 ◽  
pp. 212-221
Author(s):  
Serhii Sobchuk
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Well Being ◽  
Economic Security ◽  
The State ◽  
Financial Resources ◽  
Main Task ◽  
State Budget ◽  
Socio Economic Development ◽  
Budget System

Relevance of the research topic. Socio-economic development, which is the main task and simultaneously an instrument for ensuring the effective functioning of the country and increasing the well-being of its population, is directly dependent on the effectiveness of fiscal policy. The choice of forms, methods and models of budget regulation allows to achieve the achieved results by allocation and redistributing the gross domestic product according to the priorities of ensuring economic growth. However, at the present stage, the danger of destructive influence on the budget system of endogenous and exogenous factors of influence increases. Thus, the analysis and characterization of the main approaches to the formation of the state budget security and determination of its increase the directions in the conditions of the country's transformation fiscal system and the limited financial resources are relevant. Formulation of the problem. Budgetary security as a component of the country's financial and economic security reflects the ability to effectively use financial resources accumulated in centralized and decentralized funds to ensure the country's financial stability, opportunities for expanded reproduction and social development. That is why it is expedient to determine the main threats to budget security, the degree of their impact on economic dynamics and possible options for their minimization. Analysis of recent research and publications. The work of foreign scientists is devoted to the study of the formation and assessment of the country's budget security: S. Blancart, J. Buchanan, J. Golden, R. Kelly, A. Rotfeld, A. Pigou, R. Dornbusch, J. Stiglitz, A. Hansen and others. Theoretical and practical contribution to the assessment of the budget regulation role of the socio-economic development and ensuring a sufficient level of its budgetary security of domestic scientists was made by O. Vasilik, V. Geyts, V. Gorbulin, A. Gritsenko, L. Lysyak, I. Lukyanenko, V. Oparin, S. Pirozhkov, V. Fedosov, I. Chugunov, S. Yuri and others. Selection of unexplored parts of the general problem. Highlighting issues become relevant in the face of increasing integration processes and financial globalization. It is important to develop the institutional framework for budget security, the expansion the system factors and indicators that characterize it, in accordance with international requirements and standards. Setting the task, the purpose of the study. The task of the study is to analyze the budget security characteristics. The aim of the study is to reveal the methodological and practical provisions of the formation Ukraine budget security in the context of the institutional modernization of the economy and to determine the directions of its increase by means of fiscal regulation. Method or methodology for conducting research. The article uses a set of methods and approaches of scientific knowledge, among which it is worth noting: systemic, structural, comparative, statistical, analysis and synthesis, synthesis and scientific abstraction. Presentation of the main material (results of work). The features of the formation of the country's budget security are determined. The main indicators of the functioning of the budget system of Ukraine are characterized and the degree of their influence on the level of budget security and socio-economic development is determined. The directions of increasing budget security in the context of institutional modernization of the economy are substantiated. The field of application of results. Organization and conduct of research on the formation and improvement of the budget security. Conclusions according to the article. The country's budget security is one of the main indicators of the level of development of the financial system. Providing long-term sustainability of public finances, balancing social and economic development is a priority task of state authorities. The main indicators of Ukraine's budget security show that there are destabilizing factors, but effective budget regulation will minimize their negative impact on the pace of economic growth. It is advisable to increase the level of budgetary discipline, improve medium-term budget planning and forecasting, form an effective strategy for managing public debt and budget deficit.

scholarly journals Eco-innovation vs. environmental taxation: what is more effective for state budget?

2021 ◽  
pp. 312-323
Author(s):  
Yegana Hakimova ◽  
Yaryna Samusevych ◽  
Shahla Alijanova ◽  
Esmira Guluzade
Keyword(s):  
Random Effects ◽  
National Economy ◽  
Slovak Republic ◽  
The State ◽  
Environmental Taxation ◽  
Environmental Taxes ◽  
Panel Regression ◽  
State Budget ◽  
The Impact

The article is devoted to the comparative analysis of the use of environmental taxes and the introduction of environmental innovations in terms of impact on the parameters of revenues and expenditures of the state budget. The study includes 10 countries of Central and Eastern Europe (Bulgaria, Czech Republic, Hungary, Estonia, Latvia, Lithuania, Poland, Romania, Slovenia and Slovak Republic). The analysis period covers 2010–2019. Systematization of scientific research proves the importance of using different tools to ensure sustainable development and greening of the national economy. The main purpose of the study is to determine a more effective form of interaction between government and business in the process of transforming the national economy in the direction of more environmentally friendly products and technologies by economic and mathematical modeling of environmental taxes and eco-innovation impact of budget revenues and expenditures. The calculations consist on the several stages: 1) determining the list of relevant control variables using correlation analysis, which eliminates the problem of multicollinearity; 2) determination of the model specification (fixed or random effects) using the Hausman test; 3) identification of the generalizing effects of the impact of environmental taxation and the eco-innovation index on the indicators of budget revenues and expenditures using a generalized least squares panel regression model with random effects; 4) study of the impact of the main components of environmental taxes and components of the eco-innovation index on the parameters of the state budget using panel regression modelling; 5) determination of short-term and long-term effects of the impact of environmental taxes and eco-innovations on the parameters of budget revenues and expenditures bt auto-regression distributive lag modelling. Stata 12/SE software tools were used for calculations. The study indicates the need to transform approaches to the implementation of state environmental policy. Thus, it has been proven that government incentives for the introduction of environmental innovations in the economy can be more effective than increasing the burden of environmental taxes.

scholarly journals Analisis Dampak Sukuk pada Perekonomian Nasional di Tengah Wabah Covid 19

2020 ◽  
Vol 10 (1) ◽  
pp. 55-68
Author(s):  
Binti Nur Asiyah ◽  
Indah Nur Aini ◽  
Rama Prasetya Mahardika ◽  
Lyliya Nurul Laili
Keyword(s):  
Economic Growth ◽  
Financial Institutions ◽  
The State ◽  
State Budget ◽  
Long Run ◽  
Finance Development ◽  
Islamic Financial Institutions ◽  
The Government ◽  
The Impact ◽  
New Jobs

Sukuk is a form of investment that has an impact on the national economy which is currently weakening due to the Covid-19 pandemic. Covid 19 has had an impact on the faltering of the people's economy from business to financial institutions (sharia and conventional). The state has the need to fulfill the state budget in order to address the problem of the impact of covid 19 quickly. This paper is intended to analyze the impact of sukuk on economic growth during the covid pandemic 19. The process of collecting data is done by analyzing data observed through OJK statistics and collecting various information related to covid-19 and the data are analyzed qualitatively. Based on the results of the study it was found that Sukuk became a source of funds for the government to finance development, thus creating new jobs for the community in the long run. Sukuk provide benefits for the liquidity of Islamic financial institutions due to the impact of covid 19, and also investment facilities for the community. Key Words: Impact; Sukuk; national economiy; Covid-19.   Abstrak: Sukuk termasuk bentuk investasi yang memberikan dampak bagi perekonomian nasional yang saat ini melemah karena adanya pandemi Covid-19.Covid 19 telah memberikan dampak bagi tersendatnya perekonomian masyarakat mulai bisnis hingga lembaga keuangan (syariah dan konvensional). Negara memiliki kebutuhan pemenuhan APBN guna menjawab masalah dari dampak covid 19 secara cepat. Paper ini dimaksudkan untuk menganalisis dampak sukuk bagi pertumbuhan ekonomi di masa pandemi covid 19. Proses pengumpulan data dilakukan dengan cara menganalisis data yang diobservasi melalui statistik OJK dan mengumpulkan berbagai informasi terkait covid-19 dan data dianalisis secara kualitatif. Berdasarkan hasil pengkajian diperoleh bahwa Sukuk menjadi sumber dana bagi pemerintah untuk membiayai pembangunan, sehingga menciptakan lapangan kerja baru bagi masyarakat dalam jangka panjangnya. Sukuk memberikan kemanfaatan bagi likuiditas lembaga keuangan syariah akibat dampak covid 19, dan juga sarana investasi bagi masyarakat.. Kata Kunci : Dampak;  Sukuk; Perekonomian Nasional; Covid-19.

scholarly journals ASSESSMENT OF THE IMPACT OF THE STRUCTURE OF BUDGET EXPENDITURES ON ECONOMIC GROWTH IN UKRAINE

2020 ◽  
pp. 104-114
Author(s):  
В. В. Мартиненко
Keyword(s):  
Economic Growth ◽  
The State ◽  
Capital Expenditures ◽  
State Budget ◽  
Statistical Assessment ◽  
Consumption Expenditures ◽  
Physical Volume ◽  
The Impact

The main purpose of the article is to carry out a statistical assessment of the impact of the structure of budget expenditures on economic growth in Ukraine according to offi cial statistics of 2004–2018. The author established the uneven growth of consumption expenditures compared to development expenditures, in particular in the consolidated budget current expenditures increased 1.4 times faster than capital, and in the state budget – 2.2 times, but in local budgets capital expenditures grew 1.3 times faster than current expenditures. It was determined that the share of capital expenditures in the consolidated budget decreased by 4.3 % due to a decrease in the share of capital expenditures in the state budget by 8.8 %. Synchronicity of dynamics of the index of physical volume of GDP and shares of capital expenditures in budgets of all levels based on the off ered periodization is established. The article proves that the growth of the index of physical volume of GDP (indicator of real economic growth) during the period under review is caused by 30 % infl uence of the share of capital expenditures in local budgets, 57 % – in the state budget, 59 % in the consolidated budget of Ukraine.

scholarly journals On the impact of socioeconomic policy upon national security (based on the example of Turkish currency and debt crisis of 2018)

2020 ◽  
pp. 119-127
Author(s):  
Igor Viktorovich Okhrimenko
Keyword(s):  
National Security ◽  
National Economy ◽  
The United States ◽  
Economic Security ◽  
The State ◽  
Causal Connection ◽  
State Budget ◽  
National Economic ◽  
The Impact ◽  
National Economic Security

This article is dedicated to examination of the impact of social factors upon the state of national economic security, which is a vital segment within the overall system of national security. Insurance of national economic security implies activities aimed at elimination of factors that negatively affect the development and independence of the national economy. Such factors, of internal or external origin, are views as threats to national economic security. The subject of this research is internal threats that emerged as a result of unfavorable socioeconomic policy of the state. The author describes the impact of Turkish socioeconomic policy upon the state of its economic security by means of establishing a causal connection between certain manifestations of the unfavorable socioeconomic policy of the country and the emergence of threats to national economic security. The scientific novelty consists in definition of socioeconomic policy of the state as a factor affecting both, economic and national security. This hypothesis is substantiated by the following conclusions: 1) Effectiveness of socioeconomic policy of the state depends on differentiation of the distribution of benefits in the course of its realization; serving the interests of particular population group results in destabilization of the society and risks of civil confrontation, which leads to negative consequences for the national economy and adversely affects the state of national economic security. 2) Excessive burden on state budget with social and economic expenditures may negatively affect the state of national economy in the conditions of upcoming macroeconomic cataclysms. This is what happened in Turkey, when a substantial part of state budget dragged national economy to the bottom in terms of the United States economic sanctions and subsequent crisis of 2018.

scholarly journals Analysis of fiscal competitiveness in Lithuania’s municipalities

2016 ◽  
Vol 7 (2) ◽  
pp. 424-439
Author(s):  
Roberta Bajorūnienė ◽  
Dalia Rudytė ◽  
Solveiga Skunčikienė
Keyword(s):  
Economic Growth ◽  
Revenue Management ◽  
Research Council ◽  
The State ◽  
Financial Resources ◽  
Tax Revenue ◽  
Scientific Article ◽  
State Budget ◽  
Social Opportunities ◽  
Budget Expenditure

Nowadays municipal revenue management and administrative issues are more important and problematic. It is noted that in Lithuania’s separate municipalities collected budget revenues, formed budget expenditure, set borrowing limits, allocated from the state budget financial resources (grants) are significantly different. In order to determine reasons for these differences, it is appropriate to analyze the municipal fiscal competitiveness and identify fiscal competitiveness factors of individual Lithuanian municipalities. Understanding municipal fiscal competitiveness factors helps to explain why some municipalities more successfully than others increase tax revenue level and financial - social opportunities of their populations. This scientific article is funded by the Research Council of Lithuania according to the project „The evaluation of municipalities’ fiscal competitiveness in the context of economic growth” (2015-2018), registration No. MIP-013/2015.

scholarly journals Use of “Map-Schemes” of Connections of Economic Processes as One of the Options to Improve State Forecasting

2020 ◽  
Vol 24 (1) ◽  
pp. 12-18
Author(s):  
M. Abramova ◽  
◽  
O. Nosyriev ◽  
K. Kharitonov ◽  
◽  
...  
Keyword(s):  
Gross Domestic Product ◽  
External Debt ◽  
The State ◽  
Financial Resources ◽  
State Budget ◽  
Tax Revenues ◽  
Macroeconomic Indicators ◽  
Methodological Approaches ◽  
Foreign Governments ◽  
The Impact

Annotation. Introduction. Current trends of the rational use of financial resources also provoke the modernization of approaches and methods for state forecasting. The imperfection of the existing methods causes the significant differences between the planned data and the realities of life. Therefore, the improvement of existing methodological approaches is the key to more efficient use of state financial resources. Purpose. One of the elements of improving the methodological apparatus of state forecasting is to take into account the links and their strength between some economic processes, such as: the dynamics of state budget revenues and some macroeconomic indicators of the country. An appropriate “map-scheme” of existing stable and moderate links between them, developed on the basis of the analysis of the calculated data, may become a basis for the development of propositions for the improvement of existing methods of state forecasting. Results. The strength of the links between some economic processes of the state, namely: the dynamics of state budget revenues (the constituents of which, according to the legislation of Ukraine, include the following elements: tax revenues, non-tax revenues, official transfers from foreign governments, revenues from operations with capital, trust funds and official transfers from local budgets), as well as the following macroeconomic indicators: gross domestic product, inflation rate and gross external debt have been studied. The use of one-factor dependence equations made it possible to determine the degree of strength of connections (absent, moderate, stable connection) between the studied relations, as well as to calculate the dependence equations. The results can be used to improve the methodological and forecasting state apparatus. Conclusions. The “map-scheme”, developed on the basis of estimating the one-factor dependence equations, clearly provides an opportunity to explore the dynamics of modern stable and moderate relationships between the constituents of state budget revenues and macroeconomic indicators of the state. Accordingly, when submitting proposals for improving methodological approaches in the field of state forecasting, it is advisable to pay special attention to the impact of gross external debt and official transfers from foreign governments on gross domestic product, as well as the impact of tax and non-tax revenues, the changing dynamics of which may significantly change its volume. Keywords: state forecasting; macroeconomic indicators; state budget revenues; “map-scheme”; economic process.

IMPACT OF GOVERNMENT DEBT ON FINANCIAL SECURITY OF UKRAINE

2017 ◽  
Author(s):  
Olena Pikaliuk ◽  
◽  
Dmitry Kovalenko ◽  
Keyword(s):  
Economic Development ◽  
Public Debt ◽  
Positive Impact ◽  
The State ◽  
Financial Security ◽  
State Budget ◽  
The Public ◽  
Debt Security ◽  
The Stability ◽  
The Impact

One of the main criteria for economic development is the size of the public debt and its dynamics. The article considers the impact of public debt on the financial security of Ukraine. The views of scientists on the essence of public debt and financial security of the state are substantiated. An analysis of the dynamics and structure of public debt of Ukraine for 2014-2019. It is proved that one of the main criteria for economic development is the size of public debt and its dynamics. State budget deficit, attracting and using loans to cover it have led to the formation and significant growth of public debt in Ukraine. The volume of public debt indicates an increase in the debt security of the state, which is a component of financial security. Therefore, the issue of the impact of public debt on the financial security of Ukraine is becoming increasingly relevant. The constant growth and large amounts of debt make it necessary to study it, which will have a positive impact on economic processes that will ensure the stability of the financial system and enhance its security.

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