scholarly journals QUANTIFICATION OF THE ECONOMIC EFFECT FROM THE MANAGEMENT OF STATE FINANCE OF UKRAINE

2021 ◽  
pp. 69-86
Author(s):  
Alla KHOMUTENKO
Keyword(s):  
Financial Stability ◽  
Methodological Approach ◽  
Economic Effect ◽  
The State ◽  
Economic Effects ◽  
State Budget ◽  
Financial Flows ◽  
State Sector ◽  
Finance Management ◽  
State Finance

Introduction. The results achieved in managing state finances can be expressed through organizational, social and economic effects. They are dialectically related and, to a large extent, determine the degree of satisfaction of public interests that change over time. Financial indicators obtained in the budget sphere and in the state sector of the economy, characterize the economic effect of managing state finances. Economic effect, as a rule, confirms the feasibility of a functioning managerial apparatus and the effectiveness of its decisions in all spheres of society. The purpose of the article is to evaluate the economic effect of managing state finances of Ukraine, based on the author’s methodological approach, and substantiate the directions for its increase. Results. The indicators of the economic effect of state finance management are defined in the article. The analysis of individual indicators of fiscal, debt, investment and innovation stability in the state, as well as the financial stability of subjects of the state sector of the economy for 2008–2018. The tendencies of performance indicators of the plan of the State Budget of Ukraine, the reliability of the profitable part of Pension Fund of Ukraine, revenues from privatization, external state debt, efficiency and level of mastering of budget investments are established. The number and structure of the state sector, its financial contribution to the national economy are investigated. The necessity of carrying out a number of priority measures that will positively affect the indicators of the economic effect of managing state finances of Ukraine is substantiated. Conclusions. According to the results of the assessment of the economic effect of the efficiency of state finance management it is necessary to apply measures aimed at ensuring budgetary, debt, investment and innovation stability and financial stability of state sector entities. For example, it is necessary to improving the management of state-owned enterprises, in particular: 1) to change methodological approaches to assessing the effectiveness of state sector management; 2) to establish the relationship between the budget funding of the state sector of the economy and the results of its work; 3) to use budget lending as a tool for managing the initial financial flows of the state budget; 4) to increase the responsibility of heads of state enterprises for the results achieved by them. It is proposed to improve the management of budget investments due to: 1) the development of the institution of public-private partnership in certain areas of the economy such as infrastructure, science, etc.; 2) intensification of the use of innovation potential through the creation of innovation clusters, business incubators, etc.; 3) improving the quality of evaluation of the investment project, which will positively affect the effectiveness of its implementation; 4) reorientation of the directions of movement of funds from investments in means of production to investments in human resources, which has a long-term perspective, but with higher profitability; 5) securing for the state intellectual property rights for the development of state research institutes (patents, certificates, etc.), which will provide additional revenue from franchises and trademarks.

scholarly journals THE CONCEPTUAL CONTENT OF STATE BUDGET PROCESS IN ECONOMIC THEORY

2015 ◽  
Vol 1 (7) ◽  
pp. 203
Author(s):  
Ērika Žubule ◽  
Anita Puzule
Keyword(s):  
The State ◽  
Theoretical Research ◽  
Constructive Method ◽  
Financial Policy ◽  
Budget Process ◽  
State Budget ◽  
Scientific Publications ◽  
Finance Management ◽  
State Finance ◽  
The Impact

Evaluating the role of the budget in economy we may declare that the budget process should favour the social economic development of the state. The aim of the research is to explore and evaluate theoretical aspects of the state budget process as a component of the state financial policy and to work out proposals for improvement of the state budget process, based on the theoretical and empirical findings. The main objectives of the research were to study the foreign economic scientific literature on the state budget process in the context of theoretical aspects, to study the impact of the state budget process on the financial policy and to work out proposals for the perfection of state budget process. Generally accepted research methods of economic analysis were used: the qualitative – studying the special literature, scientific publications, morphologic comparison, the logically constructive method, the method of synthesis. As there are different views on the significance of the state budget process in the organization of state finances, the authors have specified the definition of the concept of the state budget process in the context of economics. It will ensure a unified understanding of the budget process as an important mechanism of state finance management. Therefore, a more profound theoretical research study on the state budget process is important.

scholarly journals EFFICIENCY OF STATE FINANCE MANAGEMENT: THEORETICAL AND METHODOLOGICAL APPROACHES TO EVALUATION

2019 ◽  
pp. 67-82
Author(s):  
Alla KHOMUTENKO ◽  
Vira KHOMUTENKO
Keyword(s):  
World Bank ◽  
Financial Management ◽  
Methodological Approach ◽  
The State ◽  
Finance Management ◽  
Management Efficiency ◽  
The World Bank ◽  
The World ◽  
State Finance ◽  
Methodological Approaches

Introduction. TThe degree of satisfaction of public interests depends on the efficiency of managing the processes of formation, distribution and use of state funds of funds. Awareness of this led to the development of scientific and methodological approaches to diagnosing the status of state finance management by both individual scientists and practitioners, as well as scientific-research institutions and organizations of national and international levels. Purpose of the paper is to investigate world and domestic scientific and methodological approaches to determining the efficiency of state finance management, which will reveal the shortcomings and gaps that affect the accuracy of the results. Results. The approaches used to assess the effectiveness of state administration and state service in general, as well as state finance management and the state budget, in particular, are characterized. The criteria used to calculate the International Civil Service Effectiveness Index are defined. The indicators of the countries of the world for this index for 2019 are analyzed. The criteria for assessing the state of public administration used by the World Bank are investigated. Such result indicators of Ukraine for 2007-2017 are analyzed. The methodology for assessing the effectiveness of public finance management (PEFA), which was tested by the World Bank with a group of partners USAID, EU, GIZ in Ukraine in 2011 and 2015, is demonstrated. The result indicators of individual criteria of management efficiency are given, such as: Open Budget Index, Global Competitiveness Index, Index of Globalization. A matrix of scientists' views on the composition of the criteria for the effectiveness of budget management is shown. The criteria and indicators of the financial management efficiency of the state sector of the economy, which in the studied methods are not included in the composition of state finances, are determined. Conclusions. The analysis showed that the scientific and methodological approach used to evaluate the effectiveness of state finance management depends on the performers understanding of the content of efficiency, the set analytical goals, the level of analysis, sources of information, the chosen methodology. It is revealed that none of the analyzed approaches allows a comprehensive assessment of the effectiveness of state finance management.

scholarly journals Monitoring of the tourism industry as a means of improving the efficiency of state economy regulation

2020 ◽  
pp. 6-9
Author(s):  
Tetiana AVERIKHINA ◽  
Alina VLAIEVA
Keyword(s):  
Economic Effect ◽  
State Regulation ◽  
Tourism Industry ◽  
The State ◽  
Social Infrastructure ◽  
State Budget ◽  
Tourism Management ◽  
State Economy ◽  
Independent Functions ◽  
The Republic

Introduction. The development of the tourism industry significantly affects the development of the country's economy as a whole. Its role is determined not only in the financial contribution, but also in stimulating other related industries that perform both ancillary and independent functions. The modern Ukrainian tourist market is undergoing many changes, so one of the current problems today is the use of effective tools for finding and systematizing the necessary information to forecast the development of the tourism industry. The purpose of the paper is to define the concept of monitoring the tourism industry as a means of improving the efficiency of state regulation of the economy, proving the importance of monitoring research, identifying problems of monitoring and ways to solve them. Results. The main purpose of tourism monitoring is to assess and forecast the state of tourism. Tourist services are localized and specialize in meeting the socio-economic needs of the population directly at the municipal level and are one of the main sources of funds coming to the state budget and ensure the reproduction of social infrastructure. In order to analyze trends in tourism and tourism in Ukraine, as well as assess the socio-economic effect of the implementation of measures of state support for domestic and inbound tourism, the central executive bodies of state regions of Ukraine, carrying out executive and administrative activities in tourism, the state of the tourism industry is being monitored. Given the large recreational and tourist potential in Ukraine, there is no full-fledged system of monitoring the market of tourist services by the state. This is due to the lack of an independent executive body in the field of tourism, endowed with certain powers, and a single system of statistical indicators of the market of tourist services. Modern statistics, both at the state and regional levels, do not give a complete picture of the state of tourism. Monitoring of tourist resources, objects of the tourist industry should give a clear picture of interaction of various branches of economy of the republic for the purposes of a complex estimation of directions of improvement and efficiency of functioning of the connected branches, exclusion of interbranch disproportions which negatively affect general development. Conclusion. To increase the growth rate of the tourism industry, the formation of a positive tourist image of the region, increase its visibility requires constant monitoring of the state and development of the tourism market. Monitoring will allow tracking the trends of the tourism market in the dynamics and promptly make changes to the developed programs and plans for the development of the tourism industry, develop recommendations for their adjustment, increase the effectiveness of tourism management.

scholarly journals COMPONENTS OF THE BUDGET SYSTEM OF UKRAINE AS FACTORS OF FINANCIAL AND ECONOMIC SECURITY

2020 ◽  
Vol 1 (3) ◽  
pp. 29-34
Author(s):  
Oleh Holovko ◽  
Lilia Solomonova
Keyword(s):  
Public Debt ◽  
Financial Stability ◽  
Budget Deficit ◽  
Economic Security ◽  
The State ◽  
State Budget ◽  
Decentralization Reform ◽  
State Pension ◽  
Practical Recommendations ◽  
Budget System

The purpose of this study is to analyze the components of the budget system of Ukraine as factors of financial and economic security to identify negative trends in the context of the implementation of decentralization reform. It is proved that the research of this direction should start with the analysis of the conceptual apparatus and structural relationships between categories. At the top level of the hierarchy there is the category of national security of Ukraine, which, according to current legislation, means the protection of state sovereignty, constitutional order and other national interests of the country from real and potential threats. The category of financial and economic security is also often used in the scientific literature. Given the above classification, in this case we are talking about the financial security of the country as a factor of economic security. Methodology. To stimulate economic development, the practice of modern budget regulation provides for the presence of a planned deficit, which is a source of local and public debt. Depending on the areas of its financing, there are domestic and foreign, local and national debts. The relationship between the above indicators determines the level of budget security of the country, which is one of the most important factors of financial stability was identified in the work. Results. It is proved that, according to the results of the analysis, practical recommendations on budget policy of Ukraine as a factor of financial and economic security should take into account the following steps: against the background of growing social burden on the budget, it is necessary to continue the redistribution of budget funds in favour of the regions, which will increase their level of financial autonomy and reduce the amount of transfer payments; pursue a strict restriction policy to prevent the growth of the state budget deficit and uncontrolled increase in debt; the problem of pension provision increases the burden on the state budget every year. It is necessary to take measures to create a cumulative system of state and non-state pension insurance. Practical implications. The practical consequences prove that in 2016 the public debt of the consolidated budget of Ukraine reached a record 81% of GDP. However, effective economic and budgetary policy allowed to reduce it in 2019 to 50.3%, which was positive. Moreover, the share of external debt was 29.2%. The high budget deficit in 2020 will lead to an increase in debt to 58.7% of GDP, which offsets the previous positive changes. It is determined that at the beginning and at the end of the study period the expenditures of the pension system of Ukraine have been equal to about 10% of GDP. At the same time, financing from own revenues has decreased from 8% to 6%, which is negative. The most critical situation became after 2013, when this indicator began to decline rapidly, increasing the burden on the state budget. Value/originality of the work is an analysis of the components of the budget system of Ukraine as factors of financial and economic security, which in contrast to the existing ones is based on the need for further implementation of decentralization reform and allows to develop practical recommendations for budget regulation.

Measures of financial control over the development of united territorial communities

2021 ◽  
pp. 81-90
Author(s):  
Taras H. Vasyltsiv ◽  
Olha P. Mulska ◽  
Yuliya K. Shopska
Keyword(s):  
Methodological Approach ◽  
The State ◽  
Practical Significance ◽  
Financial Resources ◽  
Financial Control ◽  
State Budget ◽  
Financial Capacity ◽  
Rational Distribution ◽  
Social And Economic Development ◽  
Further Development

The purpose of the article is to substantiate new measures of financial control over the development of united territorial communities. The article examines the relevance of the introduction of a system of financial control over the development of united territorial communities in Ukraine. The authors prove that the main goal of proper financial control of the further development of the united territorial communities in Ukraine was actualized for the three reasons: rational distribution and efficient use of financial resources; ensuring the upward dynamics and territories’ sustainable development. The features, goals, and objectives of financial control of the development of territorial communities are outlined. The essence of the concept of financial control of the development of territorial communities is specified. The results of the analysis of several indicators of financial development of the united territorial communities in Lviv region are given and the conclusion about the disproportions of financial support of community development is systematized. The author's methodological approach to the analysis of the integral coefficient of financial capacity of territorial communities of the region is developed. The analysis of the state of financial capacity of the united territorial communities in Lviv region is carried out. The scientific novelty of the research lies in substantiating the author's methodological approaches to grouping and comparative analysis of united territorial communities based on indicators of income and expenditure, grants and subventions from the state budget, which allowed to identify the level of financial capacity and assess the effectiveness of the use of financial resources in each united territorial community in Lviv region. The practical significance of the research is that the implementation of the results of the financial capacity analysis can be used as informative and analytical measures of financial control over the development of local communities. Other perspective guidelines concerning measures of improvement of financial control in the processes of social and economic development of communities are outlined.

STUDY OF THE DYNAMICS AND STRUCTURE OF THE STATE DEBT OF UKRAINE, METHODS OF ITS OPTIMIZATION

2018 ◽  
Author(s):  
Stepan Paranchuk ◽  
◽  
Roksolana Skip ◽  
Keyword(s):  
Public Debt ◽  
Financial Stability ◽  
The State ◽  
State Budget ◽  
Government Bonds ◽  
Advantages And Disadvantages ◽  
Safe Level ◽  
Domestic Debt ◽  
The Government ◽  
External Borrowing

One of the leading problems of Ukraine's economy at the present stage of its development is the issue of public debt, the constant increase in its size, irrational structure, which creates the preconditions for the dollarization of the national economy. Public debt is an important element of a market economy. As of today, there is no state that would not use borrowed funds. Borrowing by the state is due to the lack of own financial resources needed to finance the state budget and state functions. If used effectively, borrowed funds can be a positive factor in economic growth, but otherwise the increase in debt leads to economic dependence, deteriorating financial stability, as well as the financial crisis. The article reveals the issue of public debt of Ukraine, analyzes the dynamics of its value from 2009 to 2021 and identifies the reasons for the growth and / or reduction of this indicator. A study of the structure of debt obligations on the basis of the creditor, analyzed the advantages and disadvantages of internal and external borrowing. The article also provides a detailed description of the structure of internal and external creditors, the main tools used by the Government of Ukraine to attract domestic loans. Particular attention is paid to the analysis of domestic debt in terms of the structure of domestic government bonds. The ratio of public debt to gross domestic product and its comparison with the marginal and safe level are considered. A forecast was made for the amount of public debt for the future.

scholarly journals Public-private partnerships: approaches to assessing economic effects for stakeholders

2018 ◽  
Vol 170 ◽  
pp. 01047 ◽  
Author(s):  
Elisaveta Markovskaya ◽  
Viktoria Holodkova ◽  
Dmitry Radushinsky ◽  
Oksana Feoktistova ◽  
Anzhelika Borisova
Keyword(s):  
Public Private Partnership ◽  
The State ◽  
Economic Effects ◽  
Public Private Partnerships ◽  
Property Management ◽  
Fair Price ◽  
State Budget ◽  
Financial Model ◽  
Private Partnership ◽  
Legal Foundations

The article is devoted to the development of such a form of state property management as a public-private partnership. Public-private partnership is one of the most widespread format of interaction between the state and business. The article analyzes the legal foundations and trends in the development of this form of interaction. Modern methods for assessing risks, benefits and effects for different stakeholders of projects implemented in the form of PPPs are considered. The authors propose their approach to building a financial model and assessing the effects of PPP projects. Taking into account risks, the fair price of participation in the PPP project for both parties is estimated. The proposed financial model can be used to calculate the concession fee in tariff-regulated projects where the state is supposed to participate, usually with the subsequent transfer of the ownership for the created object to the state. The results of the work can be used by departmental and regional centers of public-private partnerships, by specialists of private investor companies and tariff regulation bodies when formulating the financial and economic justification for public-private partnership projects, justifying its preference in comparison with other forms of state budget investments.

scholarly journals Influence of household finance on stability of public finances

2018 ◽  
Keyword(s):  
Public Finance ◽  
Social Protection ◽  
Household Finance ◽  
The State ◽  
State Budget ◽  
Financial Flows ◽  
Public Finances ◽  
Social Sphere ◽  
The Social ◽  
The Stability

The relevance of the study is determined by theoretical definition of the essence and specification of the components of the subsystems of public finances, which allowed us reveal the need for studying the role of household finance in public finances, which have a direct connection with the state budget, local budgets and funds of social importance. As a subject of public finance, households, through participation in the formation and use of public finance, can influence the stability of this category. Analysing profitable part of the state budget, namely stake of payments from the profits of householders in a budget, and considering their personal interest in a social sphere, it was their public interest that unites interests of the state and private is certain. Due to the fact that almost a third of the expenditures of the consolidated budget is allocated for social protection and security, and one of the public finance subsystems is fully owned by non-state social funds, financial flows that are defined and guaranteed by the state for all citizens and personify public interests were considered. The analysis of the expenditures of the state and local budgets determined that the expenses on the social protection of pensioners and the social protection of the family, children and young people are of the greatest interest, and they are directly related to the finances of households. Using the indicator of the stability of public finances, articles on social protection were examined, and it was determined which areas could adversely affect the sustainability of public finances. Social protection of the retired people refers to the area with a negative impact on public finances. The obtained results require further studies of the relationship of the social sphere with household finance, which will make it possible to determine the instruments of influence and regulation in the sphere of public finances.

scholarly journals Current realities and trends in the functioning of public finance in Ukraine

2021 ◽  
pp. 187-193
Author(s):  
Vitalina Malyshko
Keyword(s):  
Public Finance ◽  
Financial Stability ◽  
Market Society ◽  
Social Transformations ◽  
Public Finances ◽  
Finance Management ◽  
Analysis And Synthesis ◽  
State Finance ◽  
Management Functions ◽  
Post Industrial

Subject of research is state finance. The aim of the study is analysis of modern realities and trends in public finance in Ukraine. The methods used during the study: generalization, method of comparative analysis, method of system-structural analysis and synthesis, statistical, general scientific, special methods of scientific knowledge and other research methods. The results of the work. The essence and main purpose of public finances are described. It is stated that it is a conceptual basis of the modern doctrine of public finance and a shortcoming of the current classification system of the public finance sector in Ukraine. The most acute problems concentrated in the sphere of public finances of Ukraine are noted; public finance management functions that are at the center of innovation processes. The scope of the results: Ministry of Finance of Ukraine, the Verkhovna Rada of Ukraine, local self-government bodies, united territorial communities. Conclusions. The formation of a socially oriented market society in Ukraine and its integration into the world community lead to systematic modernization in all spheres of public life, including public finance management. All this is reflected in the change of the functional imperative of public finance management in Ukraine in the process of transition to an innovative model of development, determined by both social transformations of Ukrainian society and systemic civilizational processes of post-industrial nature. Today, most leading countries unanimously recognize the need to restart public finance systems on an innovative basis to ensure financial stability and prevent systemic financial crises. Ukraine has also chosen the path of innovative development and is moving in this direction.

scholarly journals Diagnostics of the State of Agricultural Enterprises Financial Security

2021 ◽  
pp. 52-60
Author(s):  
Olha Kovalenko ◽  
◽  
Liudmyla Yashchenko ◽  
Keyword(s):  
Financial Stability ◽  
Negative Impact ◽  
Methodological Approach ◽  
Developed Countries ◽  
The State ◽  
Financial Security ◽  
Net Income ◽  
Scoring Method ◽  
Agricultural Enterprises ◽  
Analysis Of Dynamics

In the conditions of rapid changes in the modern market environment, it is extremely important for agricultural enterprises to respond in a timely manner to threats to their financial security. Therefore, economic diagnostics is of significant methodological importance, and makes it possible to learn about economic problems and interpret the results of enterprises activity that have certain deviations from the norm or the state required for the enterprise. The subject of the study is a set of theoretical, methodological and practical aspects of diagnosing the state of financial security of enterprises. The purpose of the article is to diagnose the state of financial security of agricultural enterprises on the basis of the proposed methodological approach and to substantiate proposals for its improvement. The methodological basis of the diagnostics used in the study was: methods of theoretical generalizations, financial analysis, scoring method, analysis of dynamics and structure, linear programming. The article reveals the tasks and areas of management of Ukrainian agricultural enterprises with an emphasis on the protection of their specific financial interests – ensuring liquidity, solvency, financial stability, autonomy and others. For research purposes all Ukrainian agricultural enterprises were classified on the size of the net income. The system of indicators for diagnostics of financial security of the agricultural enterprises was offered. The basic structural elements of the mechanism of financial security management were substantiated. According to the diagnosis results, it was found that the state of financial security of large enterprises in 2018-2019 has deteriorated and it has had a negative impact on their solvency. Instead, the financial security of small and medium-sized enterprises has improved. Based on the experience of developed countries, proposals for public policy instruments to promote financial security of agricultural enterprises were proposed.

Sign in / Sign up

Export Citation Format

Share Document