scholarly journals INTERNATIONAL EXPERIENCE IN PROVIDING FINANCIAL SUPPORT FOR LOCAL INVESTMENT PROJECTS

2021 ◽  
Vol 7 (167) ◽  
pp. 8-13
Author(s):  
V. Dubishev ◽  
I. Ostrovskyi
Keyword(s):  
Central Government ◽  
Fiscal Decentralization ◽  
The State ◽  
Financial Policy ◽  
Investment Projects ◽  
High Resource ◽  
Loan Financing ◽  
Labor Resources ◽  
Individual Economy ◽  
Budget Decentralization

The article considers the relationship between modern processes of budget decentralization and macro-financial policy of Ukraine. The focus on deepening decentralization processes in Ukraine remains unchanged. This emphasizes the use of the State Strategy for Regional Development for 2021-2027. The theoretical foundations of budget decentralization were introduced in the works of C. Tibet, W. Oates, E. Bracco, W. Tanzi, A. Aristovnik and other Western researchers. C. Oates defined the decentralization of fiscal powers as a benefit that could lead to a reduction in the size of the central government. This means reducing the tax burden by increasing competition from tax jurisdictions. For quantification at the level of an individual economy, it is possible to use the index of fiscal decentralization. This index consists of two sub-indices: the self-sufficiency index and the index of importance of subnational budgets. The OECD Fiscal Decentralization Database can be used as a source of information on fiscal decentralization. A retrospective analysis of economists has shown an increase in the index of fiscal decentralization and an improvement in the state of subnational entities in a favorable macroeconomic situation. On the contrary, the crisis worsens the conditions of subnational entities and is accompanied by a decrease in this index. With the beginning of the pandemic, there was a crisis situation regarding the macroeconomic support of further decentralization processes. Long-term social problems are deepening: demographic negatives, increasing external outflow of labor resources, shrinking the country's economy, progressive deindustrialization, high resource intensity of production, in particular, low energy efficiency, growing debt burden. The most destabilizing role is played by military events in the east of the country. High regional disproportion logically leads to a violation of the single economic space of Ukraine. The size of the budget deficit and public debt is increasing. The crisis has a significant impact on all macroeconomic processes, in particular, on the macro-financial stimulation of budget decentralization processes. The urgent task is to establish effective coordination of fiscal and monetary policy, as well as increase the capacity to attract loan financing. Extreme conditions force us to temporarily give up strategic intentions as such, which are not urgent. Public-private partnership can get another chance to become an effective mechanism of social interaction. Increasing competition between budgetary institutions and private institutions in these areas has the potential to increase the quantity and quality of public services.

scholarly journals FINANCIAL SECURITY OF TERRITORIAL COMMUNITIES IN UKRAINE: CONTENT, COMPONENTS, THREATS

2019 ◽  
pp. 98-110
Author(s):  
Nataliia BAK
Keyword(s):  
Swot Analysis ◽  
Institutional Environment ◽  
Fiscal Decentralization ◽  
The State ◽  
General Notion ◽  
Financial Security ◽  
Financial Responsibility ◽  
Financial Interests ◽  
Business Entities ◽  
Budget Decentralization

Introduction. The process of fiscal decentralization contributes to the transformation of territorial communities and local authorities into full-fledged members of the system of financial inter-connections. Territorial communities have individual financial interests. The need to protect them is at the heart of creating a safe environment for the functioning of territorial communities. However, financial security of territorial communities as separate economic units is not given enough attention to Ukraine. Instead, a more general notion is explored which isfinancial security of the regions. Purpose– theoretical substantiation of author's view on the content and structural components of the financial security of territorial communities, its place in the system of financial security of territories and the state as well as systematization of main threats to the financial security of communities in the context of implementing the budget decentralization policy. Results. The definition of financial security of territorial communities is substantiated. It is based on the protection of the financial interests of territorial communities. The features of financial interests of territorial communities are derived. Components of financial security of territorial communities are characterized. These include budget, tax, debt and investment security. The main threats to the financial security of territorial communities are analyzed and systematized. They are a result of imperfect institutional environment for local self-governments and the integration of territorial communities as subjects of a single (national) economic system. Furthermore, the threats are connected to the peculiarities of the territorial economy, communal infrastructure, the level of public consciousness and financial responsibility of heads of local self-overnment bodies. Conclusions.The financial security of territorial communities should be investigated as a part of the financial security of regions. Achieving a desirable state in practice requires synergy with the financial security of households and business entities located on the territory concerned. It is also necessary to seek coordination of financial interests of various territorial ommunities and the state as a whole.Local governments and central authorities are responsible for creating a safe financial environment for the functioning of territorial communities during budget decentralization. It is necessary to improve the mechanism of inter-territorial redistribution of financial resources.The list of potential threats to the financial security of territorial communities should be identified in the process of strategic development of territories and the use the SWOT-analysis for this purpose.

scholarly journals Personal income tax management in Ukraine on the game theory basis

2018 ◽  
Vol 7 (1) ◽  
pp. 41-48
Author(s):  
Olena Tymchenko ◽  
Yuliia Sybirianska ◽  
Yevheniia Polishchuk ◽  
Nataliia Rudyk ◽  
Volodymyr Korotun
Keyword(s):  
Game Theory ◽  
Local Governments ◽  
Income Tax ◽  
Central Government ◽  
Fiscal Decentralization ◽  
The State ◽  
Personal Income ◽  
Personal Income Tax ◽  
Different Types ◽  
The Game Theory

One of the main problems of the fiscal decentralization in Ukraine is the substantiation of the optimal proportion of the personal income tax distribution among the state and different types of local budgets in order to insure the sufficient financial resources for the territorial communities. Since period of the Budget Code adoption, the percentage of the personal income tax paid from salaries to the different levels of budgets has changed three times. However, the methodic of such distribution is not clear. The authors suggest approach of analyzing the logic of the personal income tax distribution on the game theory basis. They consider different ways of making decisions and prove that in all of the analyzed cases the winner was the central government of Ukraine. Such behavior of the central government in making decisions does not meet the goals of the fiscal decentralization reform. The main reason of such situation is that the decisions are made by the state government, but not by the local communities or their representatives. Besides, it is difficult to distribute the expenditures among different types of budgets according to the Governments’ competences. The authors suggest some recommendation of the personal income tax distribution in order to ensure benefits for all participants of the game: communities, local governments and central government. But they conclude that the active influence of people on the behavior of the local governments is the basic premise for the scientific research of the PIT optimal distribution.

UP-TO-DATE STATE OF THE REFORM OF THE DECENTRALIZED STRUCTURE OF UKRAINE: EXISTING SHORTCOMINGS AND OBSTACLES IN IMPLEMENTATION

2018 ◽  
Author(s):  
Serhii Boldyriev ◽  
◽  
Serhii Chubar ◽  
Keyword(s):  
Central Government ◽  
Fiscal Decentralization ◽  
Scientific Work ◽  
The State ◽  
Public Authorities ◽  
Decentralized System ◽  
Existing Problems ◽  
Territorial Boundaries ◽  
Legislative Changes ◽  
State Of Affairs

Up-to-date state of implementation of the reform of the decentralized structure of Ukraine in this scientific work has been analyzed. A professional analysis of the current state of affairs regarding the implementation of decentralization has been provided in this research. Significant shortcomings, obstacles and risks have been identified, which have a regressive character in the process of obtaining decentralization achievements. Trends in socio-economic and financial development and threats in Ukraine have been identified, taking into account the economic crisis, the pandemic caused by COVID-19, and foreign economic activity. The article dealt with essential legislative changes to the Constitution of Ukraine, which in the future will be able to solve existing problems, described the importance of the delimitation of competences and powers of central government and local government. A vast majority of the issues have been identified regarding the expediency of enlarging the administrative-territorial boundaries of the state, eliminating duplication of powers by various public authorities. It has been stated about the need to introduce reasonable and balanced fiscal decentralization in Ukraine, which will be able to provide Ukrainian society with opportunities for financial growth, stability, ability to develop and meet the needs of the community of the required quality and quantity. The scientific work has been identified the need to include in the Constitution of Ukraine a provision on the prevalence of a decentralized system of public power. It is essential to enshrine in the articles of the constitution the specific powers of local authorities, which would provide legal guarantees in their activities. The article describes that the change of administrative-territorial boundaries of the state causes a number of obstacles that may become critical in the exercise of powers by public authorities. It has been determined that for the introduction of fiscal decentralization in Ukraine it is necessary to unquestioningly adhere to the principle of subsidiarity, which should specify the scope of powers of public authorities and serve as a tool to curb the centralized system of public administration.

Financial and monetary policy of the State and its impact on the income level and poverty reduction in Russia

2020 ◽  
Vol 26 (5) ◽  
pp. 964-990
Author(s):  
N.I. Kulikov ◽  
V.L. Parkhomenko ◽  
Akun Anna Stefani Rozi Mobio
Keyword(s):  
Monetary Policy ◽  
Household Income ◽  
Poverty Reduction ◽  
The State ◽  
Financial Policy ◽  
Gdp Growth ◽  
Tax Rate ◽  
Gdp Growth Rate ◽  
The Government ◽  
The Impact

Subject. We assess the impact of tight financial and monetary policy of the government of the Russian Federation and the Bank of Russia on the level of household income and poverty reduction in Russia. Objectives. The purpose of the study is to analyze the results of financial and monetary policy in Russia and determine why the situation with household income and poverty has not changed for the recent six years, and the GDP growth rate in Russia is significantly lagging behind the global average. Methods. The study employs methods of analysis of scientific and information base, and synthesis of obtained data. The methodology and theoretical framework draw upon works of domestic and foreign scientists on economic and financial support to economy and population’s income. Results. We offer measures for liberalization of the financial and monetary policy of the government and the Central Bank to ensure changes in the structure of the Russian economy. The proposed alternative economic and financial policy of the State will enable the growth of real incomes of the population, poverty reduction by half by 2024, and annual GDP growth up to 6 per cent. Conclusions. It is crucial to change budget priorities, increase the salaries of public employees, introduce a progressive tax rate for individuals; to reduce the key rate to the value of annual inflation and limit the bank margin. The country needs a phased program to increase the population's income, which will ensure consumer demand.

Rice Production in Punjab: Depletion of Water Resources and Environmental Problems

2020 ◽  
pp. 294-299
Keyword(s):  
State Government ◽  
Agricultural Development ◽  
Fruits And Vegetables ◽  
Central Government ◽  
Geographical Area ◽  
The State ◽  
Rice Production ◽  
Nutrient Loss ◽  
High Rate ◽  
Paddy Straw

Punjab has emerged as an important rice-producing state in the country. The state with 1.53 percent of the geographical area of the country produces more than 11 percent of total rice production in the country. The production of rice in Punjab increased more than 10 times due to an increase in area and yield. The growth of a rice crop at such a high rate over 20 years in Punjab is indeed a rare phenomenon in the history of agricultural development in the world. Due to extensive cultivation of rice in Punjab, the state has been over-exploiting the groundwater, more than its recharge. Most of the tube-well dominated districts of the state, witnessed the fall in water table more than 20 to 30 cm per year. To dispose of the paddy straw, the farmers of Punjab generally opt for burning it. This practice of burning of paddy straw besides nutrient loss is posing a serious problem for the public health and transportation system. Rice has now become a problematic crop for Punjab state due to its ill effects on its natural resources, that is, the water and soil environmental degradation. The Punjab Agricultural University experts and other committees estimated that the total groundwater recharge from all sources can sustain/support only 16-17 lakh ha of paddy in Punjab. The area under the crop increased to 29 lakh ha which was unsustainable in the long run. The area under rice in Punjab should be stabilized at 16-17 lakh ha and the remaining paddy area should be shifted to other crops like pulses, oilseeds, maize, fruits, and vegetables, etc. requiringless water, to achieve proper water balance. Thus diversification of some area from paddy is in the interest of Punjab farmers, State government and the Central government for long term food security on a sustainable basis.

PRACTICES OF DEVELOPMENT AND IMPLEMENTATION STRATEGY FINANCIAL POLICY OF HIGHER EDUCATION INNOVATION OF UKRAINE

2017 ◽  
pp. 72-83
Author(s):  
Vitaliy MARTYNIUK
Keyword(s):  
Higher Education ◽  
Development Strategy ◽  
State Regulation ◽  
The State ◽  
Direct Result ◽  
Financial Policy ◽  
Innovative Development ◽  
Efficient System ◽  
Social Standards ◽  
Key Factor

Introduction. Article reviews the current state and key aspects of financial policy in higher education and it’s innovative development in Ukraine. Through education institutions achieved increase of social standards, needs and increase welfare, increase the competitiveness of the state as a whole. Purpose. The purpose of this paper is to determine the characteristics of the development strategy of financial policy of innovative development of higher education and finding ways to improve its implementation. Results. The article deals with the importance of an innovative approach to the development of financial strategy in higher education. The ways to improve the effectiveness of the financial policy of innovative development of higher education are defined. Today an important form of state regulation of the economy is macroeconomic planning and forecasting. Conclusion. Innovative development of higher education is the foundation of economic growth of the economy and improvement of social standards. The financial policy of the state in this area is aimed, ultimately, to ensure the welfare of all members of society. Achieving high rates of innovation in the field of higher education facilities by building efficient system of economic mechanisms of financing. Important direct result of providing innovative educational services not only to order the state or the employer, but also on the personal needs of citizens in their development. The level of education is a key factor the ability of the workforce to adapt to new conditions, increase overall efficiency, etc.

Suffering Spectators of Development

2017 ◽  
Author(s):  
Arjun Chowdhury
Keyword(s):  
Civil Wars ◽  
Central Government ◽  
State Capacity ◽  
State Power ◽  
The State ◽  
Colonial Period ◽  
Alternative View

This chapter offers an alternative view of the incidence and duration of insurgencies in the postcolonial world. Insurgencies and civil wars are seen as the primary symptom of state weakness, the inability of the central government to monopolize violence. Challenging extant explanations that identify poverty and low state capacity as the cause of insurgencies, the chapter shows that colonial insurgencies, also occurring in the context of poverty and state weakness, were shorter and ended in regime victories, while contemporary insurgencies are longer and states are less successful at subduing them. The reason for this is the development of exclusive identities—based on ethnicity, religion, tribe—in the colonial period. These identities serve as bases for mobilization to challenge state power and demand services from the state. Either way, such mobilization means that popular demands for services exceed the willingness to disarm and/or pay taxes, that is, to supply the state.

The Political Economy of Post-Independence India—A Review Article

1989 ◽  
Vol 48 (4) ◽  
pp. 787-797 ◽  
Author(s):  
Akhil Gupta
Keyword(s):  
Political Economy ◽  
Central Government ◽  
Organizational Structures ◽  
The State ◽  
The Political ◽  
Newly Industrialized Countries ◽  
The Past ◽  
Nation States ◽  
Balance Of Forces ◽  
The Third World

Economists and political scientists have become increasingly interested in the political economy of India during the past decade and particularly during the past three or four years. The titles under review will be valuable not only to India specialists but also to comparative scholars because of the intriguing mix of conditions found in India. More like a continent than a country in its diversity, India is in some ways very similar to densely populated, predominantly rural and agricultural China, differing most perhaps in the obstinacy and depth of its poverty. In the predominant role played by the state within an essentially capitalist economy, it is closer to the model of Western social democracies than it is to either prominently ideological capitalist or socialist nation-states; like other countries in the “third world,” the state in India plays a highly interventionist developmental role. Finally, since Independence it has pursued, more successfully than most nation-states in Latin America and Asia, policies of importsubstituting industrialization and relative autarchy. In terms of its political structures, India differs from most newly industrialized countries (NICs) in that it generally continues to function as a parliamentary democracy. The federal political system creates an intriguing balance of forces between central and the regional state governments, which are often ruled by opposition parties with agendas, ideologies, and organizational structures quite different from those of the central government.

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