The Impact of Budget and Fiscal Policy on Entrepreneurial Activity and Country's Competitiveness

2019 ◽  
pp. 280-298
Author(s):  
Yuriy Holynskyy ◽  
Irina Onyusheva
Keyword(s):  
Economic Development ◽  
Fiscal Policy ◽  
National Economy ◽  
European Countries ◽  
Entrepreneurial Activity ◽  
State Control ◽  
Fiscal Institutions ◽  
Social And Economic Development ◽  
Business Entities ◽  
The Impact

Ukraine's economy, as compared to other European countries, is lagging behind. An unstable political situation, significant tax pressure, various administrative barriers, complexity of tax administration and with obtaining permits, technical regulation, certification and standardization, frequent sudden inspections by state control bodies, limited opportunities for the use of financial and credit resources, weakness of material, technical, financial, managerial, and personnel components of business entities – all these factors do not promote the entrepreneurial initiative in this country. The key precondition for raising the prosperity level and effective social and economic development is strengthening the competitiveness of the national economy through the coordinated work of the state and its budget and fiscal institutions. This study reveals the theory and the methodology of the formation and implementation of fiscal policy in Ukraine. Peculiarities in the development of the entrepreneurial environment in Ukraine are analyzed, and fiscal mechanisms are defined with the purpose of activating further entrepreneurship development.

scholarly journals BUDGET AND FISCAL POLICIES’ MODERNIZATION AS A FACTOR OF NATIONAL COMPETITIVENESS INCREASE (THE CASE OF UKRAINE)

2019 ◽  
pp. 16-29 ◽  
Author(s):  
Yuriy Holynskyy ◽  
Irina Onyusheva
Keyword(s):  
Economic Development ◽  
Fiscal Policy ◽  
Fiscal Policies ◽  
State Control ◽  
Technical Regulation ◽  
Fiscal Institutions ◽  
Political Situation ◽  
National Competitiveness ◽  
Social And Economic Development ◽  
Business Entities

Ukraine's economy, as compared to other neighbouring European countries, is lagging behind. Unstable political situation, significant tax pressure, various administrative barriers, complexity of tax administration and with obtaining permits, technical regulation, certification and standardization, frequent sudden inspections by state control bodies, limited opportunities for the use of financial and credit resources, weakness of material, technical, financial, managerial and personnel components of business entities – all these factors do not promote the entrepreneurial initiative in this country. The key precondition for rising the prosperity level raising and effective social and economic development is strengthening the competitiveness of the national economy through the coordinated work of the state and its budget and fiscal institutions. This study reveals the theory and the methodology of the formation and implementation of fiscal policy in Ukraine. Peculiarities in the development of the entrepreneurial environment in Ukraine are analysed and fiscal mechanisms are defined with the purpose of activating further entrepreneurship development.

scholarly journals COVID-19 Impact on Social and Economic Development of Regions of the Central Federal District of Russia

2020 ◽  
Vol 17 (4) ◽  
pp. 48-60
Author(s):  
A. M. Asaliev ◽  
A. A. Stepanov ◽  
G. I. Avdeenko ◽  
S. G. Dmitriev
Keyword(s):  
Economic Development ◽  
Federal District ◽  
Entrepreneurial Activity ◽  
Social Survey ◽  
After Effects ◽  
Central Federal District ◽  
Social And Economic Development ◽  
On Line ◽  
The Impact ◽  
Small And Medium Business

The article analyzes the impact of COVID-19 pandemia and caused by it quarantine measures on social and economic development of certain regions of the Central Federal district of the Russian Federation, i. e. Bryansk, Voronezh, Ivanovo, Smolensk and Tula. Special attention is paid to small and medium business. The authors provide findings of the anonymous social survey carried out in the format of on-line questioning in the mentioned regions, which show public feelings in respect of restriction measures and steps of state support for business and relative expectations concerning prospects of regional entrepreneurial activity. The results of the survey showed that small and medium business suffered serious losses as a result of the pandemia. Economy restoration will be slow and long, according to respondents. Business of some respondents was ruined. The authors provide recommendations aimed at minimizing COVID-19 after-effects.

Macro-economic Factors Influencing Tourism Entrepreneurship: The Case of Kazakhstan

2021 ◽  
pp. 097135572098143
Author(s):  
Aizhan Tleuberdinova ◽  
Zhanat Shayekina ◽  
Dinara Salauatova ◽  
Stephen Pratt
Keyword(s):  
Economic Development ◽  
Emerging Economies ◽  
Negative Relationship ◽  
National Income ◽  
Tourism Development ◽  
Entrepreneurial Activity ◽  
Macroeconomic Factors ◽  
Distributed Lag ◽  
Tourism Sector ◽  
The Impact

Tourism development contributes to economic development. In emerging economies like Kazakhstan, tourism development needs active entrepreneurship. As the country emerges from the post-Soviet era, there has been an increase in economic development and prosperity. Entrepreneurship in the tourism sector can drive economies forward through the creation of new tourism and hospitality businesses. The macroeconomic environment can influence entrepreneurial activity. We use an autoregressive distributed lag (ARDL) model to examine the impact of macroeconomic factors on tourism entrepreneurship in Kazakhstan. Using data from 1996 to 2018, we find that there is a positive short-run relationship between wages in the tourism sector and entrepreneurship, suggesting that wage growth in the sector attracts entrepreneurs. In the long run, however, tourism sector wages have a negative relationship with entrepreneurship, suggesting that these higher wages represent a higher cost to entrepreneurship. There is also a strong positive relationship between national income and tourism entrepreneurship in Kazakhstan. Implications of macroeconomic policy changes for Kazakhstan and other emerging economies are discussed.

The Impact of Nonpartisan Fiscal Institutions on Budgetary Delay

2020 ◽  
Vol 52 (3) ◽  
pp. 173-183
Author(s):  
Colin Emrich
Keyword(s):  
Public Finance ◽  
Fiscal Policy ◽  
Fiscal Institutions ◽  
Governmental Institutions ◽  
The Impact ◽  
The Relationship

Can the design of governmental institutions promote timely governance? This article investigates this question by examining the relationship between the design of fiscal institutions and budgetary delays across the fifty states. These budgetary offices are created by lawmakers to advance sound fiscal policy and sustainable public finance. This article argues that the unbiased information provided by nonpartisan budget offices minimize the likelihood of budgetary delay as well as lessen how long budgetary stalemate persists when a delay occurs. The findings suggest that nonpartisan fiscal institutions do not prevent budgetary delay but substantially reduce the duration of budgetary gridlock.

scholarly journals Innovative Approach to Measuring the Impact of FDI on Some Macroeconomic Indicators in B&H

ECONOMICS ◽  
2018 ◽  
Vol 6 (1) ◽  
pp. 7-15
Author(s):  
Slobodan Subotić ◽  
Živko Erceg ◽  
Vladimir Marković ◽  
Goran Mitrović
Keyword(s):  
Economic Development ◽  
Foreign Direct Investment ◽  
National Economy ◽  
Direct Investment ◽  
Economic Life ◽  
Capital Export ◽  
Economic Surplus ◽  
Macroeconomic Indicators ◽  
Relationship Of ◽  
The Impact

SUMMARY The necessity of economic life and economic development of every economy is the free movement of capital. The international movement of capital has its balance of payment when capital export represents economic surplus in relation to consumption of the national economy and the import of capital represents an increase of consumption in regard to the output of a national economy. Analysis of the influence of foreign direct investment (FDI) on economic growth of the host country, among other things, is emphasized in the function of the achieved phase of its economic development. Taking all this into consideration, the aim of this paper refers to an attempt to indicate the significance and the role of FDI as well as the importance of attracting foreign direct investment in B&H and the determination of the effects of FDI on the economy of B&H. In this regard, we will try to determine the level of FDI’s impact on some macroeconomic indicators in B&H (GDP, import, export, unemployment) by using contemporary SPSS statistical analysis program (model) and applying the methods (calculating coefficients) of correlation and regression analysis. In other words, we will determine the analytical expression used to describe a statistical relationship of these macroeconomic categories.

scholarly journals Laundering Black Money by Means of Offshore Zones: The Negative Impact and Ways to Resolve

2021 ◽  
Vol 8 (523) ◽  
pp. 140-150
Author(s):  
O. T. Zamaslo ◽  
◽  
D. A. Kozak ◽  
Keyword(s):  
National Economy ◽  
Tax Evasion ◽  
Negative Impact ◽  
Action Plan ◽  
International Standards ◽  
Key Factors ◽  
Profit Shifting ◽  
State Budget ◽  
Business Entities ◽  
The Impact

The article is aimed at examining the problem of laundering black money in the offshore jurisdictions. Attention is paid to the key factors that attract economic entities regarding business registration in offshore zones. The impact of the tax burden on the process of moving profits to offshore jurisdictions is considered. The volumes of losses of the State Budget of Ukraine related to tax evasion of the funds placed on the accounts of offshore companies have been studied. The most typical schemes of laundering black money in offshore zones are presented, as well as a number of stages that form the process of laundering are highlighted. Emphasis is placed on round tripping investment as a key mechanism for returning foreign funds to a resident in the form of foreign direct investment, the main factors in the use of round trip transactions by Ukrainian business entities are allocated. Attention is drawn to the percentage of countries, which are the largest investors in Ukraine. It is determined that the use of offshore schemes by Ukrainian businesses contributes to the growth of the shadowing of the national economy and causes a direct negative impact on Ukrainian financial security, which is confirmed by the results of the National Risk Assessment 2019. Emphasis is placed on the OECD / G20 Base Erosion and Profit Shifting (BEPS) initiative to prevent money laundering offshore, and Ukraine’s key measures to implement relevant international standards are specified. Prospects for further research in this direction are to identify measures directed towards deoffshorization of the national economy, including through the implementation of the BEPS 2.0 Action Plan.

scholarly journals Currency liberalization and its impact on the economy of Ukraine

2020 ◽  
Vol 2020 (3) ◽  
pp. 25-40
Author(s):  
Valentyna Harkavenko ◽  
◽  
Galina Yershova ◽  
◽  
Keyword(s):  
Economic Development ◽  
Financial Sector ◽  
Developed Countries ◽  
Raw Material ◽  
Negative Consequences ◽  
Economic Activities ◽  
Depth Analysis ◽  
European Standards ◽  
Business Entities ◽  
The Impact

Examining the transformation of financial relations in Ukraine, in the previous article the authors analyzed the impact of foreign capital on the economic development of this country’s economy and found that its concentration in certain economic activities contributed to consolidating its raw material orientation. The authors conclude that due to the distorted model of Ukraine's economic development, successful practices of developed countries to attract foreign investment and reform the financial sector are ineffective in this country’s economy. Continuing the study of the transformations of financial relations in Ukraine, which are taking place under the influence of the approximation of domestic legislation to European standards, the authors could not leave aside the question of impact of the liberalization of currency legislation on the economy. Given that currency liberalization significantly affects the behavior of foreign investors, the authors conducted an in-depth analysis of legislative changes in the financial sector, and described the main results of their implementation. The positive and negative consequences of currency liberalization in Ukraine for business entities and the economy in general are analyzed. Particular attention is paid to the risks associated with the liberalization of operations related to the movement of capital and the behavior of non-residents in the financial market of Ukraine. It is concluded that Ukraine’s economy with its distorted development model belongs to the financially and institutionally weak ones, hence is not presently ready to liberalize its monetary relations, which could only deepen the deformations and reduce resilience to macroeconomic imbalances.

THE PROBLEMS OF INCREASING COMPETITIVENESS OF THE ENTERPRISE AND THE DIGITIZATION OF REGIONAL ECONOMY

2020 ◽  
Author(s):  
E. A. Gasanov ◽  
Lin Lee ◽  
Wei Lyu
Keyword(s):  
Economic Development ◽  
Regional Economy ◽  
Digital Technologies ◽  
Strategy Of Development ◽  
Social And Economic Development ◽  
The Impact

In this article the possibility of implementation of strategy of development and increase of competitiveness of firm in the conditions of the territory of the advancing social and economic development and digitalization is considered. The impact of digital technologies on firm competitiveness is becoming crucial and strategic.

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