scholarly journals Investment subsidies as a source of revenues to local budgets

2021 ◽  
pp. 31-34
Author(s):  
Volodymyr HORYN ◽  
Nataliia KARPYSHYN
Keyword(s):  
Economic Development ◽  
Local Governments ◽  
The State ◽  
Infrastructure Development ◽  
State Budget ◽  
Investment Projects ◽  
Socio Economic Development ◽  
Water Mains

Introduction. Given the limited own resources of local self-government, it is important to ensure the effective functioning of the mechanism for providing investment subventions from the state budget. Such investment subventions include subventions for the formation of infrastructure in the united territorial communities and subventions for the implementation of measures of socio-economic development of separate territories. The purpose of the paper is the analysis of the mechanism of providing and using investment subventions to local budgets in order to identify disadvantages and eliminate them. Results. Providing an “infrastructure” subvention to local budgets has strengthened the capacity of united territorial communities and to some extent improved the quality of services provided to the population. During 2016–2019, UAH 6.5 billion was allocated from the State Budget of Ukraine to local budgets for infrastructure development and 9475 projects were implemented. With the help of these subventions, schools, kindergartens, outpatient clinics, cultural and sports institutions, water mains and roads were built and repaired, and specialized transport was purchased. However, in recent years, the role of this subvention has decreased significantly due to the fact that the number of UTCs that received an infrastructure subvention during 2016–2021 has increased significantly, and its volume has hardly changed. The amount of subventions from the state budget to local budgets for the implementation of measures for socio-economic development of certain territories has also decreased, which negatively affects the capacity of local governments in the field of investment projects. Conclusion. The volume of investment subventions remains insufficient, and their distribution is partly in a “manual mode”, which creates a favorable environment for political corruption and lobbying.

scholarly journals BUDGET INVESTMENT AT THE LOCAL LEVEL

2021 ◽  
Author(s):  
Natalya Yaroshevych ◽  
Andriy Yakymiv ◽  
Olha Chubka
Keyword(s):  
Economic Development ◽  
Regional Development ◽  
Financial Support ◽  
Local Level ◽  
The State ◽  
Capital Expenditures ◽  
Capital Investments ◽  
State Budget ◽  
Investment Projects ◽  
Socio Economic Development

The article investigates the structure and dynamics of capital expenditures and capital investments at the expense of local budgets during 2010-2019. It has been established that since 2015 in Ukraine there has been an increase in capital expenditures of local budgets, both in the total amount of expenditures of local budgets, and in GDP as well. This is due to the growth of the local budgets resource base in connection with the decentralization reform. Also, a positive trend of growth in the percentage of capital expenditures of local budgets is revealed. This fact reflects the budgetary investment intensification at the local level. It was found that the growth of capital expenditures from local budgets occurs in the direction of the growth of capital transfers to enterprises (up to 40% in the total amount of capital expenditures). This may be due to the replenishment of the registered capital of utilities, a significant part of which is formed because of a medical reform. Major maintenance, reconstruction and restoration traditionally remain at a high level in the structure of local budgets capital expenditures. The significance for local budgets and procedures for obtaining various types of financial support for regional development from the state budget is also studied. It has been established that the investment potential of local budgets is formed by their own revenues to the development budget, as well as by funding from the state budget in the form of subventions to local budgets for the formation of the united territorial communities infrastructure (0.3-0.4% in the revenues of local budgets); subventions for the implementation of measures for the certain territories socio-economic development (0.2-1.2%) and financing of investment projects at the expense of the State Fund for Regional Development (0.7-1.03%). It was found that the growth of capital investments from local budgets to a small extent depends on financial support from the state budget. It was also clarified that the use of funds for the regional development financial support at the expense of the state budget does not quite correspond to the goals defined by legal acts. The problems of the efficiency of financing investment projects at the expense of the SFRD funds and subventions of socio-economic development have been identified. Recommendations are given for eliminating the identified problems of the effectiveness of financing investment projects for regional development.

scholarly journals Conceptual framework for the budgeting mechanism of the state’s social and economic development

2017 ◽  
pp. 77-88 ◽  
Author(s):  
Vasyl’ Demianyshyn
Keyword(s):  
Economic Development ◽  
Government Regulation ◽  
The State ◽  
State Budget ◽  
Social And Economic Development ◽  
Socio Economic Development ◽  
Budget Policy ◽  
Key Aspects ◽  
Budgeting Process

The article considers some approaches of domestic and foreign scholars to the interpretation of the concept of state’s budgeting mechanism. It involves the following: a set of types, forms, methods and means through which the state establishes budgetary relations; a number of forms, methods, instruments and tools of budgeting process and using budget resources; a practical model of implementation of the state budget policy; a set of tools and methods for government regulation of social and economic development of the state. It is proposed to interpret a budgeting mechanism of the state’s socio-economic development as a set of financial forms, methods, tools, and instruments which ensure a broad range of distribution and redistribution processes; the formation and use of a centralized fund of monetary resources; functioning of the budget system in general and implementation of the budget policy aimed at socio-economic development of the state. The budgeting mechanism of the state’s socio-economic development is viewed through ontological considerations. Taking into account some peculiarities of budgetary relations, two components are highlighted: the mechanism of budgeting process and the mechanism of using budget resources. It is found that the key aspects of functioning and the role of budgeting mechanism in regulating social and economic processes depend on a combination of elements of both components: methods, forms, tools and instruments. Similiarities and differences of financial and budgeting mechanisms of the state are outlined, which provide grounds for interpreting the budgeting mechanism as a special type of financial mechanisms.

Effectiveness of Tax Policy of Ukraine: Evidence and Economy Implications

2020 ◽  
pp. 124-131
Author(s):  
Olena P. Slavkova ◽  
Oksana I Zhilinska ◽  
Maksym Palienko
Keyword(s):  
Economic Development ◽  
Tax Evasion ◽  
Tax Policy ◽  
The State ◽  
State Budget ◽  
Advantages And Disadvantages ◽  
State Tax ◽  
State And Local ◽  
Tax Payments

The article deals with the peculiarities of the formation and implementation of tax policy in the country. The analysis of change of tax receipts to the state and local budgets is carried out. The role of tax payments in the economic development of the country is determined. The efficiency of the state tax policy in Ukraine is analyzed, its advantages and disadvantages are determined. The important role of tax payments in stimulating economic and social development is substantiated. The analysis of the elasticity of change of indicators of economic development of the country from the change of volume of tax receipts to the budget is carried out. The necessity of improving the existing policy of establishing, accrual, payment, and distribution of tax revenues as one of the most promising areas to stimulate economic growth is concluded. Keywords: tax policy, revenues, tax evasion, state budget, elasticity, economic development

scholarly journals FORMATION AND DEVELOPMENT OF THE INTERNAL SYSTEM OF EDUCATION QUALITY ASSURANCE AT THE UNIVERSITY AS A FACTOR OF STATE SOCIO-ECONOMIC DEVELOPMENT

2020 ◽  
pp. 96-103
Author(s):  
A. Artyukhov
Keyword(s):  
Higher Education ◽  
Economic Development ◽  
Quality Assurance ◽  
Foreign Students ◽  
Education Institution ◽  
The State ◽  
Educational Services ◽  
Socio Economic Development ◽  
The University

The article is devoted to the description and analysis of factors that potentially and actually affect the socio-economic development of the state on the example of the higher education institution. It is established that at the system level the level of ensuring the quality of educational activities and the quality of higher education has a decisive influence on the formation of a positive image of a higher education institution. The results of a survey of students on the criteria for choosing a university to study are presented. Statistics on public funding of education in general and higher education in particular are presented and analyzed. It is established that, despite the formally high percentage of education funding from the level of GDP in absolute terms, the actual funding is low and needs to be strengthened by attracting external funding from customers. Attention is also paid to the state of development of educational services for foreign students. In a competitive environment at the national and international level, the decisive influence on the involvement of foreign students in the university is influenced by the structure of the training program, teacher qualifications, organization of the educational process in the classroom and so on. The article on the example of a higher education institution presents the main stages of formation and development of the internal system of quality assurance of education as an object of influence on the socio-economic development of the state. The development and/or improvement of internal quality assurance systems in universities is becoming a powerful basis for increasing university funding from external (personally involved) sources, reducing the outflow of applicants abroad and the successful provision of educational services to foreign students. At this stage, given the limited opportunities for funding of educational activities by the state (compared to EU countries), the successful implementation of the university development strategy is possible provided that systematic work is done to improve the quality of educational services for domestic and foreign citizens. As part of further research, it is planned to analyze the mutual impact of the education quality assurance system on the effectiveness of scientific activities, the provision of additional paid educational services, training for external customers and other sources.

scholarly journals THE INFLUENCE OF THE SHADOW ECONOMY ON THE SOCIO-ECONOMIC DEVELOPMENT OF UKRAINE

2021 ◽  
Author(s):  
Yuliia Romanovska ◽  
Lily Strapachuk
Keyword(s):  
Economic Development ◽  
Shadow Economy ◽  
Negative Impact ◽  
Economic Security ◽  
The State ◽  
State Budget ◽  
Socio Economic Development ◽  
High Inflation ◽  
High Level ◽  
The Impact

The article considers the approaches to the interpretation of the category "shadow economy", which causes a variety of approaches to assessing the impact of the shadow economy on the socio-economic development of Ukraine. The spread of the pandemic and the complication of economic conditions, formed as a result of the introduction of forced restrictive measures, have led to the growth of the shadow economy in Ukraine. The index of shadowing of the economic sphere in relation to the inflation index and the level of the state budget deficit has been studied. The factors that led to the shadowing of the economy and caused the growth of the share of the shadow sector in the economy of Ukraine are highlighted. The main components of shadow employment are identified. Business entities operating in the shadow sector have significantly more competitive advantages and much higher efficiency than legally operating businesses. As a result, such enterprises are an obstacle to the flow of funds to the budgets of all levels of the country, and as a consequence, have a negative impact on socio-economic development in general. In recent years, state budget expenditures have been growing too slowly, which indicates a high level of shadowing of the economy in conditions of high inflation and, consequently, negatively affects the socio-economic security of society. Budget expenditures are closely linked to public policy, which allows the state to curb the level of economic shadowing through measures to reform relevant areas. It is investigated that the State budget expenditures grow too slowly, which indicates a high level of shadowing of the economy in conditions of high inflation. The paper substantiates the reasons for the growth of the shadow economy and identifies the main measures to reduce shadow employment, the manifestations of which are the deformation of social and economic institutions of the state. The de-shadowing of the economy provides citizens with the right to social protection, in the form of social guarantees in case of unemployment, temporary incapacity for work, accidents or occupational diseases during official work, pensions, etc.

scholarly journals ARCHITECTONICS OF BUDGET MECHANISM OF SOCIO-ECONOMIC DEVELOPMENT OF THE STATE

2018 ◽  
pp. 45-57 ◽  
Author(s):  
Zoryana LOBODINA
Keyword(s):  
Economic Development ◽  
Public Administration ◽  
State Regulation ◽  
The State ◽  
Practical Application ◽  
Leading Role ◽  
Socio Economic Development ◽  
Scientific Approach ◽  
The Relationship

Introduction. The need to neutralize the threats to Ukraine's national security requires review of the priorities of public administration. Given the leading role of the budget as the imperative dominant of the system of state regulation of socio-economic development, the use of which is linked to the practical application of the budget mechanism of the socio-economic development of the state, the feasibility of modernizing the said mechanism is beyond doubt. The above circumstances determine the indisputable relevance of the study of the architecture of the budget mechanism and the search for ways to improve its structure, the integration of financial methods, forms, tools and instruments. Purposes. The purpose of the article is to formulate its own scientific approach to the structuring of the budget mechanism of the socio-economic development of the state, the characteristics of its elements and the relationship between them. Results.The result of the study proved that the optimal combination of elements of the budget mechanism allows the state to effectively influence the socio-economic processes, ensuring the functioning and development of the national economy, affordable and quality public services to the population, solving social problems and others. So in terms of transformation of budgetary relations and orientation of public finance to economic growth and improving public welfare scientific approaches to structuring the budget mechanism require revisionand clarification. Conclusion. Taking into account the directions of budget resources movement, the budget mechanism of the socio-economic development of the state proposes to distinguish two main subsystems: the mechanism of budget funds formation and the mechanism of using budget funds. In each of the subsystems, financial methods, forms, tools, levers are distinguished and characterized in the context of providing the architectural budget mechanism.

scholarly journals BUDGET POLICY TO STIMULATE SOCIO-ECONOMIC DEVELOPMENT OF REGIONS

2020 ◽  
Author(s):  
Yurii Radionov ◽  
Keyword(s):  
Quality Of Life ◽  
Economic Development ◽  
Local Governments ◽  
Local Level ◽  
Policy Instruments ◽  
Conceptual Apparatus ◽  
Socio Economic Development ◽  
Budget Policy ◽  
Local Budget

The system of regional development and the conceptual apparatus of the term “region” are analyzed. Modern problems of local budgets are revealed. The focus is on the low level of financial capacity of local budgets, which affects the state of solving current socio-economic problems, as well as the independence of local governments. At the same time, there are examples of inefficient use of budget funds, which are allowed by budget managers at the local level, which negatively affects the achievement of priority goals of socio-economic development of territories. Attention is focused on the need to improve the quality of management of managers and recipients of budget funds, including the use of program-targeted budgeting method. Emphasis was placed on the need to expand the tax capacity of the regions in filling local budget revenues. Emphasis is placed on the expediency of better use of budget policy instruments in improving the effectiveness of budget expenditures, ensuring sustainable dynamics of socio-economic development of regions, which will improve the level and quality of life.

scholarly journals Optimization of the Activities of Institutions Promoting Investment in the sustainable Economic Growth of Russia

2021 ◽  
Vol 25 (4) ◽  
pp. 110-120
Author(s):  
E. A. Zvonova ◽  
V. Ya. Pishchik ◽  
P. V. Alekseevc
Keyword(s):  
Economic Development ◽  
Foreign Direct Investment ◽  
Direct Investment ◽  
The State ◽  
Russian Economy ◽  
Socio Economic Development ◽  
Development Institutions ◽  
Investment Process

The article examines and assesses the problem of the investment deficit in the Russian economy, which has acquired particular relevance due to the coronavirus crisis caused by the pandemic. The study aims to develop practical recommendations for Russian state bodies to stimulate the investment process in the Russian economy and improve the efficiency of measures taken by the state to ensure the country’s socio-economic development. The objectives of this paper are to analyze the directions of optimization and prioritization of investment of resources during the economic recession caused by the coronavirus crisis using investment lending and project financing instruments, as well as to analyze and assess the ongoing reform of development institutions based on the state corporation “VEB.RF”. The research methodology includes an analysis of the regulatory legal framework, statistical information, official reports of state bodies, development institutions, scientific monographs and publications of Russian scientists, periodicals. The authors analyzed the trends and problems of the investment process in the Russian economy, including in the field of attracting foreign direct investment. Attention is paid to the ongoing reform of development institutions aimed at enhancing the role of the state development corporation “VEB.RF” in stimulating investment. The authors conclude that it is necessary to take a set of functional, instrumental, and institutional measures aimed at stimulating investment and ensuring sustainable socio-economic development of Russia. In particular, in the context of a shortage of domestic sources of financing for long-term investments, it is important to provide regulatory macroeconomic support for the inflow of foreign direct investment into the Russian economy. In this regard, the authors propose to change the monetary policy strategy to increase the stimulating role of refinancing of credit institutions and the projected exchange rate in attracting domestic and foreign long-term investments and ensuring sustainable development of the Russian economy. The authors also propose to increase the role of foreign exchange regulation and foreign exchange control in stimulating investment and ensuring sustainable socio-economic development of Russia.

scholarly journals Rola infrastruktury transportu jako jednego z czynników rozwoju regionalnego

2021 ◽  
Vol 24 (3) ◽  
pp. 7-18
Author(s):  
Jakub Majewski
Keyword(s):  
Economic Development ◽  
Regional Development ◽  
Point Of View ◽  
Transport Infrastructure ◽  
Infrastructure Development ◽  
Public Authorities ◽  
Development Indicators ◽  
Socio Economic Development ◽  
Infrastructure Investments

Celem niniejszego artykułu jest prezentacja miejsca infrastruktury transportowej w programowaniu rozwoju społeczno-gospodarczego oraz analiza charakteru i roli tego czynnika w wybranych teoriach rozwoju regionalnego. Pierwsza część pracy opisuje metodę badań oraz wykorzystywane źródła. Część druga zawiera syntetyczny przegląd literatury z zakresu ekonomiki transportu i wskazuje na elementy kluczowe z punktu widzenia rozwoju społeczno-gospodarczego oraz, co za tym idzie, zainteresowania władz publicznych. W części trzeciej opisana jest dyskusja tocząca się wokół oczekiwanej roli inwestycji infrastrukturalnych oraz ich miejsca w wybranych koncepcjach rozwoju regionalnego. Koncentruje się ona wokół dylematu „wyprzedzającego”, bądź „wtórnego” modelu rozbudowy infrastruktury, a także roli tego zagadnienia na tle innych czynników rozwoju regionalnego. Całość zamyka podsumowanie, które zawiera wnioski na temat roli sfery transportu we wspieraniu rozwoju regionów oraz konkluzję, zgodnie z którą infrastruktura transportu stanowi element niezbędny do kreowania dostępności i równolegle wewnętrznego potencjału regionów. The role of transport infrastructure as one of the regional development indicators The aim of this paper is to present the place of transport infrastructure in socio-economic development programming and to analyse the nature and role of this factor in selected theories of regional development. The first part of the paper describes the research method and sources used. The second part contains a synthetic review of the literature on transport economics and indicates the key elements from the point of view of socio-economic development and, consequently, the interest of public authorities. The third part describes the discussion on the expected role of infrastructure investments and their place in selected concepts of regional development. It focuses on the dilemma of the “anticipatory” or “secondary” model of infrastructure development and the role of this issue against the background of other regional development factors. The book closes with a conclusion on the role of the transport sphere in supporting regional development and the conclusion that transport infrastructure is an indispensable element in creating accessibility and, in parallel, the internal potential of regions.

scholarly journals FINANCING THE PROCESS OF PROVIDING PUBLIC SERVICES IN THE PUBLIC SECTOR OF UKRAINE IN THE CONDITIONS OF INFORMATIZATION

2021 ◽  
Vol 4 (39) ◽  
pp. 77-86
Author(s):  
I. Mokhova ◽  
I. Dragan ◽  
O. Коzyrieva ◽  
N. Gavkalova ◽  
A. Dubovik
Keyword(s):  
Public Sector ◽  
Technical Assistance ◽  
Forecast Model ◽  
The State ◽  
Infrastructure Development ◽  
State Budget ◽  
Administrative Services ◽  
The Public ◽  
Administrative Service

Abstract. The article examines the mechanisms of process financing informatization of administrative services. The purpose of the article is to determine the sources of funding and prospects for the provision of administrative services in terms of informatization of the public sector of Ukraine. Research methods are comparative analysis of analytical and official statistical data of Ukraine, institutes of international support on the basis of group classification of instruments of financing of Administrative Servics Center (ASC). It is proved that decentralization, development and improvement of the quality of administrative services determine the ASC as a priority area of reforming the system of administrative services in Ukraine. The legal bases of creation and maintenance of functioning of ASC, legal statuses of establishment, principles of process of rendering of administrative services in ASC are defined. The dynamics of the number of administrative service centers and regional features of functioning are analyzed. Sources of financing of ASC (the state budget, regional and city budgets, means of the State fund of regional development, the international projects of technical assistance) are allocated. It is proved that the most common and largest source of funding for informatization processes in the ASC is the state budget (subvention for infrastructure development). The authors propose a forecast model for the creation and development of administrative service centers in Ukraine under conditions of further state funding in appropriate volumes. The necessity of attracting external sources of financing (funds of international technical assistance projects, initiatives of international donors) in the conditions of limited and deficit of the state budget of Ukraine is substantiated. The necessity of modernization of ASC from the point of view of use of IT-technologies is substantiated. Priority areas for comprehensive reform of improving the quality of administrative services are identified: decentralization, simplification, deregulation, institutional capacity development and communication support. Keywords: financing, administrative services, informatization, public sector. JEL Classification D92 Formulas: 0; fig.: 4; tabl.: 1; bibl.: 13.

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