scholarly journals Institutional environment of budgetary regulation of social development

2019 ◽  
pp. 196-204
Author(s):  
Serhii Sobchuk
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Fiscal Policy ◽  
Social Development ◽  
National Economy ◽  
Institutional Environment ◽  
The State ◽  
Financial Globalization ◽  
Budget Policy ◽  
Sustainable Economic Growth

Relevance of the research topic. The search for new sources of economic growth at the stage of post-crisis development of the national economy determines the need for the development and implementation of an effective budget policy, since the financial system dysfunctions generated by the trends of financial globalization negatively affect the economic environment of the country. The change in the type of economic growth constitutes the necessity of modifying the budget regulation towards its proactive changes, which include transparency, effective tax incentives and increased availability of financial resources by improving existing methods and methods for implementing fiscal policy and improving the quality of the institutional environment. Formulation of the problem. Budgetary regulation needs to take into account the optimal balance between elements of the budget system and characteristics of cyclic economic development. This indicates the appropriateness of forming an institutional environment of fiscal policy, which should be aimed at ensuring the sustainable development of the national economy, promoting economic competitiveness, ensuring financial stability, effective protection of the domestic market and export support, infrastructure modernization, ensuring environmental protection, optimizing social protection of the population. and increasing its level and targeting. Analysis of recent research and publications. The work of foreign and domestic scholars such as A. Mazaraki [1], L. Lisyak [2], D. North [3], V. Makogon [4], M. Pasichnogo [5], I. Chugunova [6], S. Blankart, A. Smith, J. M. Keynes, A. Gritsenko, I. Zapatrina, I. Lukyanenko, I. Lyutoha, V. Fedosova, S. Yurii and others, are devoted to studying the institutional principles of fiscal policy making in the country and to improve the system of budgetary regulation of social development. Selection of unexplored parts of the general problem. Institutional transformation of fiscal policy is an effective tool for increasing the level of interaction between all members of budget relations. It is necessary to strengthen their coordination in achieving the goals of social development in the process of performing functions and tasks, in accordance with the strategic goals of the domestic economy. Setting the task, the purpose of the study. The objective of the study is to characterize the institutional environment of the state budget policy. The purpose of the study is to reveal the theoretical and methodological foundations for the formation of the institutional environment of budgetary regulation of social development and to identify the directions of its improvement. Method or methodology for conducting research. The article uses a set of methods and approaches of scientific knowledge, among which it should be noted: systematic, structural, generalization and scientific abstraction. Presentation of the main material (results of work). The peculiarities of formation of the institutional environment of budget regulation of social development are determined. The directions of increasing the institutional interaction of the components of the budget system in the conditions of the transformation of the economy are singled out. The main elements of the budget architectonics are described to achieve a balanced and sustainable socio-economic development of the state. The field of application of results. Organization and conducting of scientific researches on formation of institutional principles of the budget policy of the country. Conclusions according to the article. In order to ensure sustainable economic growth, it is expedient to determine the basic principles of forming an institutional environment for budget regulation of social development, consisting of combining the components of the adaptive institutional architecture of the budgetary system and instruments of fiscal regulation, optimizing the structure of budget revenues and expenditures, the system of intergovernmental fiscal relations and medium-term budget planning, and forecasting on the basis of establishing the relationship between the trends of financial globalization and priorities state financial policy, taking into account the volatility of the economy and the lagged effects will promote sustainable economic growth.

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 Problems of evaluating the effectiveness of innovative development institutions in the context of sustainable development of the national economy

KANT ◽  
2020 ◽  
Vol 37 (4) ◽  
pp. 177-182
Author(s):  
Ekaterina Milovanova
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Economic Development ◽  
National Economy ◽  
Assessment Methods ◽  
Innovative Development ◽  
Socio Economic Development ◽  
Development Institutions ◽  
Multi Criteria Analysis ◽  
Sustainable Economic Growth

The article considers the main trends in the development of innovative development institutions in the context of their compliance with the priorities of socio-economic development of industries and territories, as well as strategies for ensuring sustainable economic growth through diversification of the GDP structure. A methodology for evaluating the effectiveness of innovative development institutions is proposed based on the integration of traditional investment assessment methods with multi-factor and multi-criteria analysis tools.

scholarly journals FISCAL POLICY AND INSTITUTIONAL BUDGET ARCHITECTONICS

2020 ◽  
Vol 5 (5) ◽  
pp. 197
Author(s):  
Igor Chugunov ◽  
Valentina Makohon ◽  
Tetniana Krykun
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Fiscal Policy ◽  
Public Welfare ◽  
Human Potential ◽  
Socio Economic Development ◽  
Strategic Goals ◽  
Sustainable Economic Growth ◽  
Macroeconomic Stability

The purpose of the article is to study the role of fiscal policy in the context of the development of institutional budget architectonics aimed at ensuring macroeconomic stability, boosting economic growth, strengthening human potential, improving public welfare and defining approaches to its formation in advanced and transition economies. Comparative and factor methods make it possible to cover the peculiarities of institutional environment of the formation of fiscal policy in EU countries and Ukraine in the context of the development of the institutional budget architectonics and to identify ways for its improvement. Methodology. Substantiation of the role of fiscal policy in terms of the development of institutional budget architectonics, determination of its strategic orientations are based on generalization and systematization of experience of advanced and transition economies. For this very reason, the authors analyse and assess the fiscal policy and define special aspects of the formation and implementation of its components in relevant countries. Results show that to increase the effectiveness of the fiscal policy, it is expedient to ensure its interrelation with other components of financial policy based on a combination of fiscal and motivation function. Effective institutional budget architectonics provides means for creating conditions for sustainable economic growth, achieving strategic goals of socio-economic development of the country. Significant tasks of the development of institutional budget architectonics are regulation of the ratio between direct and indirect tax revenues, the structure of budget expenditures in terms of functional, economic classifications, maintaining the budget gap and public debt at the level that contributes to the financial and economic stability of the country, taking into account economic cyclical nature. Practical implications. A feasible budget architectonics would facilitate the maintenance of macroeconomic stability and accelerate economic growth. It is expedient to carry out institutional changes of budget architectonics on the ground of dynamic interconnection of budget and macroeconomic indicators. Value/originality. Fiscal policy plays a significant part in the process of government regulation of socio-economic development of the country. Elaboration of fiscal policy approaches in the context of the development of institutional budget architectonics is an important prerequisite for improving the quality of budget planning, ensuring the strength, stability and dynamic balance of the budget system. It is advantageous to introduce adaptive institutional changes into the budget architectonics in order to accelerate economic growth. Therefore, the article covers the essence and role of institutional budget architectonics aimed at ensuring macroeconomic stability, accelerating economic growth, developing human potential, improving public welfare; it defines the approaches to its development in transition and advanced economies. The authors establish that effective fiscal policy based on feasible institutional budget architectonics provides means for creating conditions for sustainable economic growth, achieving strategic goals of socio-economic development of the country.

scholarly journals The issues of stimulation of economic growth in the modern economic conditions

2019 ◽  
Vol 2 ◽  
pp. 28-37
Author(s):  
Mahir Abbaszade ◽  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
National Economy ◽  
Economic Conditions ◽  
Existing Problems ◽  
Modern Economic Growth ◽  
Modern Economic ◽  
Key Features ◽  
Sustainable Economic Growth ◽  
Stimulation Of

The article addresses the issues of stimulating economic growth in modern economic conditions. International experience shows that it is imperative for each country to take effective measures to ensure economic growth. It is important that sustainable economic growth is topical. The article examines the key features of modern economic growth. The analysis shows that it is important to ensure economic development in all sectors of the national economy. In addition, the article identifies existing problems and offers suggestions and solutions for their solution.

scholarly journals Directions of the state policy for intensification of bank lending development in the context of overcoming financial imbalances and ensuring structural reforms in Ukraine’s economy

2021 ◽  
pp. 4-12
Author(s):  
Taras G. Vasyltsiv ◽  
Yaroslav M. Antonyuk ◽  
Yaroslav P. Berezivskyi
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
National Economy ◽  
State Policy ◽  
Structural Changes ◽  
Bank Lending ◽  
The State ◽  
The Other ◽  
Other Hand ◽  
The One

The purpose of the article is to identify shortcomings and substantiate the directions of the state policy to intensify the development of bank lending in the context of overcoming financial imbalances and ensuring structural reform of the national economy of Ukraine. Methods. The research is based on general scientific methods and approaches, system approach, general logical research methods (analysis, synthesis, generalization and comparison), the method of strategic management. Results. The article shows the conceptual relationship between bank lending to the economy and economic growth along with a structural economic reform. The key indicators of volumes, structure and tendencies of bank lending development, as well as measures of distribution of bank lending to the economy are analysed. Conclusions concerning sufficiency of bank lending for its proper contribution to the development of the real sector of the national economy are made. The current research describes the shortcomings of the structure of Ukraine’s economy formed at the current stage of socio-economic development of the country, which, in fact, are systemic obstacles to the restoration of economic growth and modernization of the social sphere of Ukraine. Strategic directions and means of the state policy for bank lending development are identified. Their implementation is supposed to intensify the bank lending to the economy and the consumer sector, on the one hand, and provide a positive impact of these processes on intensifying structural changes in the national economy, on the other hand. The structural scheme of reforming the institutional and legal mechanism of the state policy for bank lending development in Ukraine has been developed. The expected structural changes in the system of the national economy are determined, on which the development of bank lending in Ukraine is focused. Practical contribution. The implementation of the proposed measures at the level of the National Bank of Ukraine and the Ministry of Economic Development, Trade and Agriculture of Ukraine will stimulate banks, on the one hand, and businesses, on the other hand, to increase bank lending to the economy, in particular in those sectors having a positive effect on the key structural characteristics of the economy, such as development of strategic industries, de-shadowing, growth of innovation activity, the overall strengthening of the economic competitiveness. Prospects for further research. The obtained results are the basis for modelling and forecasting the implications for the state policy for intensification of bank lending and providing necessary structural changes in the national economy.

scholarly journals The Role of Taxes in Economic Development of Kosovo

2016 ◽  
Vol 4 (1) ◽  
pp. 79
Author(s):  
Artan Nimani
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Fiscal Policy ◽  
Political Stability ◽  
The Government ◽  
High Level ◽  
National Governments ◽  
Sustainable Economic Growth ◽  
The Impact

To achieve prosperity and political stability, national governments aimed at achieving economic equilibrium. The government uses various instruments to stimulate economic growth, reduce unemployment and to achieve macroeconomic objectives. In the context of slow economic growth in recent years and fiscal pressures, Kosovo faces the complex challenge of economic development. Unemployment remains at a high level. Demand for labor is still very low and create an environment that will favor the formation of stable work places is a challenging task that requires a multidimensional reforms in the economy. This paper addresses the impact of fiscal policy on reducing unemployment, increasing investment and consumption to generate sustainable economic growth.

scholarly journals THE PECULIARITY OF INVESTMENT COOPERATION OF THE REPUBLIC OF KAZAKHSTAN WITH PEOPLE’S REPUBLIC OF CHINA

2019 ◽  
pp. 31-34
Author(s):  
Tleulina Aigerim
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
National Economy ◽  
Annual Growth ◽  
People’S Republic Of China ◽  
People's Republic Of China ◽  
Republic Of China ◽  
World Economic ◽  
The Republic ◽  
Sustainable Economic Growth

Investment cooperation between Republic of Kazakhstan and People’s Republic of China is, first of all, that, being mutually beneficial, it provides for different in nature economic results for the interacting parties. China, as a result of this cooperation, is pursuing a solution to the problem of maintaining sustainable economic development. For Republic of Kazakhstan, investment cooperation with People’s Republic of China should contribute to further maintaining sustainable economic growth and modernizing the national economy in order to effectively participate in the system of world economic relations.Since 2015, investment flows from China to Kazakhstan have shown positive dynamics, their average annual growth is 22%. At the same time, the largest volume of FDI falls on 2018: $ 1.5 billion - 37.6% more than in 2017, and 78.6% more than in 2015. For the first half of 2019, the gross inflow of investments from China amounted to 362 million US dollars.In the Republic of Kazakhstan from 2015 to 2019, Kazakh-Chinese projects are implemented for a total amount of $ 35 billion. During this period, 10 enterprises were launched.

scholarly journals WORLD AND EUROPEAN EXPERIENCE OF INCLUSIVE DEVELOPMENT MODEL REALIZATION

2019 ◽  
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Social Protection ◽  
The State ◽  
Inclusive Development ◽  
Human Potential ◽  
Active Member ◽  
European Experience ◽  
Sustainable Economic Growth ◽  
Social Expenditures

The article identifies features of an inclusive model of economic development. Different approaches to determining the essence of an inclusive type of economic development are considered. One of which defines inclusive development as sustainable economic growth, whose main purpose is to reduce poverty and inequality. The second approach defines inclusive development as the process of expanding people's involvement in GDP creation, ensuring equal opportunities for realizing their human potential regardless of socio-economic conditions, gender, place of residence and ethnic roots. The purpose of the article is to explore the world and European experience of implementing the models of inclusive development, to study and summarize their main benchmarks and indicators. It has been determined that the model of inclusive development is based on the following conditions: the state is obliged to enable every person to fully realize his or her potential; to be an active member of society; receive decent pay for the results of their work; equal access to work results, which implies a uniform and sufficient distribution of work results between employees, entrepreneurs and the state through a balanced amount of wages, income and taxes; accessibility to high quality educational and medical services, etc. The features of the American, European, Chinese and Norwegian models of inclusive development are analyzed. Their main priorities and guidelines for social protection and inclusion are highlighted. Ways to achieve inclusive growth are identified. The analysis of economic growth, poverty, population stratification, social guarantees, social expenditures has been carried out. Therefore, investments in education, solving social, national, cultural, demographic, environmental problems, development of health care, science will contribute to the formation of a new economic structure, which will be based on the principles of inclusiveness.

Manajemen Ekonomi Outopilot: Kegagalan Negara Mencari Identitas?

Liquidity ◽  
2018 ◽  
Vol 1 (2) ◽  
pp. 142-152
Author(s):  
Mukhaer Pakkanna
Keyword(s):  
Economic Development ◽  
National Economy ◽  
The State ◽  
Political Democracy ◽  
Economic Democracy ◽  
Quality Of Democracy ◽  
Economic Disparities ◽  
National Economic ◽  
Production And Distribution

Political democracy should be equivalent to the economic development of the quality of democracy, economic democracy if not upright, even the owner of the ruling power and money, which is parallel to force global corporatocracy. Consequently, the economic oligarchy preservation reinforces control of production and distribution from upstream to downstream and power monopoly of the market. The implication, increasingly sharp economic disparities, exclusive owner of the money and power become fertile, and the end could jeopardize the harmony of the national economy. The loss of national economic identity that makes people feel lost the “pilot of the state”. What happens then is the autopilot state. Viewing unclear direction of the economy, the national economy should clarify the true figure.

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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