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This paper identifies the main tasks for solving the problem of creating an effective pension system in Ukraine. The macroeconomic, social-labor and demographic factors of development of the pension system of Ukraine are considered. Based on the operating consolidated budget data of the Pension Fund of Ukraine, it is proven a financial imbalance, which is covered by subsidies from the state budget. A critical analysis of the dynamics of the Pension Fund of Ukraine revenues and expenditures has been carried out. Based on the statistics of the Cabinet of Ministers and the Pension Fund of Ukraine, the growth rates of the average wage, the average pension, the number of pension tax payers and the number of pensioners have been calculated. The advantages and disadvantages of the increase in the indicators of the balance of the pension system are characterized. The example that confirms the unfairness of the approach to the calculation of pension payments to workers and self-employed individuals is presented. The main criteria for the effectiveness of the pension system are identified. The parameters for assessing the effectiveness of the pension system are described. A set of measures has been formed to improve the current Ukrainian pension system. The necessary value of the replacement coefficient to reach the average level of European countries is determined. The restrictions to which the regulatory documents that will form the basis of the strategy of long-term development of the pension system of Ukraine are listed. The conditions that should be formulated to ensure the balance and long-term financial stability of the pension system are proposed. The integration of the pension system into other institutions of public administration and their interdependence on the example of the budget of the Pension Fund of Ukraine have been proved, a considerable part of which is formed on the basis of budget transfers. Overall, there are outlined significant institutional changes required by the functioning of financially stable pension system. The main attention is paid to the introduction of a fully functioning three-tier pension system. Initial changes have been proposed to approaches to the accrual of pensions, which must meet European standards and take into account the valorisation of income. [ABSTRACT FROM AUTHOR]

The impact of value added tax (hereinafter – VAT) on the socio-economic development of the state is investigated in this paper. Here it is considered as a tool of the mechanism of budgetary resources formation and regulation of taxpayers’ welfare and activities. It is determined that, in addition to the reduction of tax rate, the public authorities and local governments should provide favorable conditions for doing business, implement measures for anticorruption and market anti-monopoly. To compensate for the expences of budgetary resources occurring as a result of possible reduction in the value added tax rate, it is necessary to look for alternative sources of pumping up the state budget. Such situation could weaken Ukraine's competitiveness, increase distrust of potential investors, and deactivate attracting investments into the country's economy. In order to stimulate certain economic activities, to increase the volume or the level of availability of certain goods (services)consumption, the tax legislation provides certain preferences for value added tax, particularly – lowering the tax rate, tax exemptions,, tax credit, tax benefits. In addition, the regulatory impact of VAT as a financial instrument on the taxation system is revealed in this paper. The peculiarities of VAT administration in Ukraine and foreign countries are highlighted, the dynamics, tendencies of receipt and reimbursement of VAT in Ukraine are considered. The reasons for tax refund arrears are given and ways to improve VAT administration are proposed. Analysis of the assessment of VAT fiscal efficiency is carried out, the indicators of the assessment of this tax fiscal efficiency are determined. Despite the permanent increase in the absolute amount of this tax and its share in gross domestic product (hereinafter – GDP) and state budget revenues, the fiscal role of VAT is weakened due to such problems as regressive impact on low-income populations, tax evasion and minimization of tax liabilities, growth of volumes of VAT refunds at the expense of budgetary resource,. [ABSTRACT FROM AUTHOR]

The primary objective of the paper is to investigate the main directions of decentralization reform, trends in local budget revenues in Ukraine, to assess the impact of decentralization reform on the structure and composition of local budgets financial resources, to identify the ways of their optimization. The main components of decentralization reform, the main practical results of territorial and fiscal decentralization in Ukraine are formulated in this paper. Analysis of the development of voluntary territorial communities association in the country during the last five years is carried out. The principles of public administration and the development of normative regulation of local self-government, voluntary association of territorial communities and their cooperation are investigated. It is determined that the practical result of administrative-territorial decentralization is to ensure the creation of new capable territorial entities – united territorial communities. The practical result of tax decentralization is the increase of financial capacity of the united territorial communities. The dynamics of the share of local taxes and fees in own revenues of the general local budgets fund is considered, special attention is paid to such national tax as personal income tax. The dependence of local budgets on transfers from the state budget is noted. And all this on the basis of achievement the ratio of state and local budget revenues of most EU countries is 50:50. The directions of reducing the risk of financial unreliability of local governments under COVID-19 conditions are determined. The difficulties of tax administration of large taxpayers; the main factors determining the size of the shadow economy in the country are investigated. There is no direct relationship between the level of taxation in Ukraine and the level shadow economy. The assessment of the extent of concealment and incomplete reporting of domestic businesses according to the survey in the framework of the SHADOW project is made. The consequences of increasing shadow economy share in the country are determined. The experience of several European countries in personal income taxation is studied, the peculiarities of granting the right to apply the social tax benefit from the personal income tax is determined. Recommendations for optimizing the taxation of individuals in terms of taxation of dividends are provided in this paper. [ABSTRACT FROM AUTHOR]

Copyright of Scientific Proceedings of Ostroh Academy National University Series, Economics is the property of National University of Ostroh Academy and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The socio-economic role and economic nature of local budgets in the context of budget decentralization performance are described. The scientific vision that local budgets are financial potential for regions economic development is confirmed. Territorial localization of production capacities provides the opportunity for proportional development from the financial resources volume allocated by local budgets to the regional development support. Under conditions of the total local budgets decentralization, the latter on an automatic basis along with the investment resources become regional economic growth mechanism. It is determined that budget decentralization is manifested by the redistribution process of the gross regional product between local self-governing authorities, population and business classes. At the same time, local budgets depend on the general economic state status creating the «boomerang» effect. The emphasis is made on the functional interrelationships of local budgets with the state ones. The conceptual components of budget decentralization to the local levels are substantiated. The level of budget decentralization influence on socio-economic development of the areas is defined in this paper, at the same time the occurrence of horizontal and vertical budget competition contributing to economic development and improvement of production and of services supply in certain regions is determined. The factors of budget decentralization influence on the entrepreneurial activity of regions are systemized. It is proposed to use supporting financial pressure at the state level in order to protect stagnant regions. The reasonableness of integrated methodologies development for assessment the impact of budget funds decentralization influence on regional economic development (by income, expenses and transfers) is proved. The main stimulants and disincentives of the regions economic growth for effective reform of the structural elements of local budgets aimed at the improvement of their income formation effectiveness are indicated. The need of creation the special state budget policy nominees for the stimulation of socio-economic development of administrative-territorial units is proved. [ABSTRACT FROM AUTHOR]

The purpose of the paper is to carry out a historical analysis of the taxation process of collective farms in the USSR in 1945-1953 as a factor in the successful financial policy of Soviet power. In the process of research, general scientific methods were used: analysis and synthesis, induction and deduction, and a special method of historical research - analysis of archival documents. The paper analyzes the measures of the Soviet state regarding the restoration and establishment of collective farms in the Ukrainian SSR and the peculiarities of their taxation in 1945-1953. [ABSTRACT FROM AUTHOR]

Copyright of Economy of Industry is the property of National Academy of Sciences of Ukraine, Institute of the Economy of Industry and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purpose of the paper is to conduct a scientific and historical analysis of the work of the tax authorities of the UkrSSR in 1946-1953 as a significant element of financial and economic policy in the Ukrainian SSR in the process of rebuilding the economy of the country. The research used the methods: comparative–historical and system analysis and special methods of historical research - analysis of regulatory and archival documents. The article deals with the rights and duties of the employees of the State Revenue Inspection of the Ukrainian SSR and the regulatory legal mechanism for the collection of turnover tax from state and cooperative ownership enterprises in 1946-1953. [ABSTRACT FROM AUTHOR]

Budget planning has always been and remains an important part of any person's life. The purpose of this work is increasing users savings through the use of developed web service for dynamic generating a forecast, which is based on user's basic model and automatic selection of combinations of forecasting methods in each specific case by analyzing the quality and quantity of the user's story. Correct distribution of income, planning expenses and increasing savings remain quite relevant. Correct budgeting and expenditure require more and more effort to achieve high quality, consistent forecast estimates. In addition, questions in these areas are associated with a high degree of uncertainty. When analyzing such processes, the main problem is the ability to generate high-quality forecasts. Due to the flaws of the existing solutions, it was proposed to develop its own web service for the dynamic formation of a budget forecast depending on the user's story. The paper proposes its own models, the importance of each of the elements of the model is analyzed, shows how the basic model is transformed into a user's model, the use of models in the method of dynamic generating a forecast is shown. Thanks to the use of the developed models, the method allows for each specific case, taking into account the individual designated elements for constructing a forecast. The presented method analyzes the quality and quantity of the user's story and automatically selects a combination of forecasting methods in each specific case to solve the economic and financial issues of users. The increase in household saves after using the application based on the proposed models was analyzed. The analysis showed an average increase in income of 1.3 times among 74 families compared to the amount of savings saved without using the developed application based on the proposed models and method. [ABSTRACT FROM AUTHOR]

Copyright of Scientific Bulletin of Polissia is the property of Chernihiv State Institute of Economics & Management and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purpose of the article is to conduct a historical study of the collection of taxes from peasants in the Ukrainian SSR in 1946–1953 as a significant political and economic factor in the restoration of Soviet power and the process of rebuilding the economy. The research used the general scientific methods: analysis and synthesis and a special method of historical research – analysis of archival documents. The paper considers the measures taken by the Soviet state to restore the taxation of farmers and their farms in the USSR in 1946–1953. [ABSTRACT FROM AUTHOR]

The need for effective budget planning in Ukraine in order to ensure effective and transparent implementation of the budget process generates the necessity for scientific understanding of the transfer of European practice of medium-term budget planning (MTBP) in domestic realities. Despite numerous developments of scientists concerning the possibilities of improving the procedure of medium-term budget planning (MTBP) in Ukraine, it is important to identify the features of its implementation based on the experience of developed countries, which will allow us, taking into consideration the obtained results, to deepen further scientific and applied aspects of improving the medium-term budget planning system in Ukraine, to increase the efficiency of its implementation. One of such example is Germany's experience in introducing and implementing the medium term budget planning. The main purpose of the investigation is the analysis of the budget planning in Ukraine, particularly, the factors influencing it, to determine the opportunities of the application of Germany’s experience concerning the introduction and implementation of the medium-term budget planning. The main advantages and disadvantages of using the MTBP procedure over the traditional (annual) budget are summarized in this paper. Factors of the MTBP development in Germany and other EU countries, particularly: effectiveness of regional practice; post-crisis period of national economies and the world economy; purposefulness of countries to the EU integration; significant amounts of public debt; implementation and enforcement of Directive 2011/85/EU in 2011 are established. Combination of all five preconditions available in Ukraine should ensure the accelerated development of the MTBP. It is determined that the use of German experience for the improvement of medium term budget planning in Ukraine will contribute to rational distribution of budget resources between the budget system levels, increasing the level of predictability of the state budget policy, improving the macroeconomic balance, fiscal discipline and investment attractiveness of the country. It is noted that the non-fulfillment of the planned indicators of the state budget in Ukraine is due to the inefficient organization of the MTBP and the influence of macroeconomic environment factors. [ABSTRACT FROM AUTHOR]

The dramatic changes in the processes of ensuring the functioning and development of the Ukrainian State due to the fullscale military aggression of the neighboring country have actualized the need for optimal use of public finances in the context of their critical shortage, and, consequently, the need for an in-depth study of the composition and structure of public expenditures in recent years in the context of identifying the underlying problems of their management in Ukraine and substantiating possible ways and prospects for their solution. The issues of optimizing and increasing the efficiency of public spending have been the focus of public administration theorists and practitioners for many decades, but in recent years these issues have become especially relevant as a result of the global economic crisis caused by the pandemic and further deepened by the full-scale invasion of one of the largest countries in Europe. At the same time, the functioning of the domestic economy in a full-fledged war has necessitated a new look at the existing system of public spending to ensure a clear separation of general problems of inefficiency from those caused by hostilities and, thus, to understand the prospects for addressing each of the problematic aspects in the postwar period. The purpose of the study is to analytically identify the existing problems in the system of public expenditures in Ukraine and to substantiate possible ways to improve their efficiency. The analysis showed a significant predominance of consumption expenditures in the structure of public expenditures in Ukraine. The article analyzes the functional structure of state budget expenditures and distributes them according to the priority criterion, examines the composition of planned public expenditures on the agricultural sector in 2023 and the results expected from them. The comparison of the effectiveness of the most priority public expenditures in Ukraine with the indicators of individual EU countries allowed identifying the key problems of budget expenditures in Ukraine and outlining the promising ways to solve them. [ABSTRACT FROM AUTHOR]

The features of modern stage of capitalist manufacturing functioning are investigated beginning from its European origin through Anglo-Saxon formation to Euro-Atlantic leadership. The development is characterized by the outstripping growth of technocratic factors, preservation of mentality of European societies, departure from world values and religions and destruction of spirituality. The facade of modern capitalism is constituted by its "core" (G-7, part of the G-20 states). Up to 50 states are allies (satellites) of the core. Most of the world's countries are the periphery of the global world system of capitalism. The main models that were used and still are by capitalism in economic management, in innovation from its inception to the present day are considered. The risks, faced by countries that mechanically use the "core" models are noted. The sources of financing the models of development of economic agents and enterprises, using traditional systems of taxation, budget formation are shown. The necessity and expediency of the use of rent (economic, natural, intellectual, etc.) in the formation of the budgets of economic agents at all levels, the increase of its importance and role in the digitalization of production, activities of economic agents and enterprises is proved. A new integral system of management, in which spirituality, values, rent relations, science, ICT, digitalization play an important role, is considered as a promising model of development. [ABSTRACT FROM AUTHOR]

The purpose of the article is to disclose and deepen the theoretical provisions on the nature and role of the revenue side of local budgets in ensuring the socioeconomic development of territories. The State financial policy should be focused not only on solving urgent current problems and tasks, but also have a perspective character, which consists in creating the preconditions for socioeconomic development. The article conceptualizes the role of the local budgets’ revenues in ensuring the socioeconomic development of territorial communities. The main functions of local budgets are defined. The concept of sustainable development and a totality of indicators that characterize it are studied. The theoretical aspects of the impact of local budget revenues on socioeconomic development are revealed. The advantages of budgetary decentralization are determined, the indicators of budgetary decentralization in the field of revenues are considered. The provisions on the impact of decentralization on socioeconomic development are generalized. The authors applied a system approach. They also used the dialectical method, methods of synthesis and analysis, comparison and generalization. It is substantiated that local budgets play a significant role in regulating socioeconomic processes, performing both distributive and regulatory functions. Local institutions should have sufficient financial resources at their disposal to finance public services and infrastructure development. The transformation of interbudgetary relations is intended to increase fiscal responsibility and motivation to accumulate own budget revenues to cover expenditures. It is defined that fiscal decentralization is aimed at improving the quality of public administration and the formation of financially viable territorial communities. The decentralization processes are intended to improve the quality of public administration and form financially viable territorial communities in which the basic set of public services will be as close to the consumer as possible, and the quality of these services will meet the established criteria. [ABSTRACT FROM AUTHOR]

The article is aimed to analyze zemstvo legislation of the Russian Empire in the second half of the ХІХ century and practical activities of zemstvo self-government bodies to establish and collect zemstvo taxes and perform duties. Recent research and publications analysis. In the post-Soviet period, the problem of financial activities of zemstvo self-government has been studied by such domestic scientists as O.M. Holovko, V.D. Honcharenko, I.V. Ivanov, S.A. Kaluhiv, M. Lavriv. Paper objective. Zemstvo financing had to be carried out by local zemstvo assemblies and partly from the state budget, which provided financial independence of zemstvo self-government. Zemstvo taxes collection and duties performing were regulated by "Regulations on Provincial and District Zemstvo Bodies of 1864," "Regulations on Provincial and District Zemstvo Bodies of 1890" and "Temporary Regulations for Zemstvo Bodies in Cases Involving Zemstvo Duties, Public Health and Social Care of 1864". The main disadvantage of zemstvo tax legislation was the fact that it did not provide distinction of zemstvo and state income sources. The lack of such distinction became the cause of conflicts between zemstvos and local authorities. District zemstvos sought to increase a share of zemstvo budget content by cities that were situated in the district. This resulted in conflicts between zemstvo and city self-government. Paper main body. Disadvantages of zemstvo activities in the field of taxation included the fact that they did not create a perfect inventory of taxation objects; due 2 to imperfect estimation, cost of land was underestimated; zemstvos differently defined relationship between price and yield of commercial and industrial establishments. Due to the lack of taxation objects’ accounting and evaluation in 80s of the XIX century, zemstvos organized conducting of statistical studies which was aimed at census of peasants’ and landlords’ estates. The main natural duties imposed on peasants and townspeople included: 1) a dray (horse-drawn) duty - providing carts for transportation of government officials and zemstvo employees; 2) a road duty - involving peasants and townspeople to build roads. Enforcement of zemstvo duties had a number of shortcomings: abuse of power by police officials, unfair distribution of duties, distraction of farmers from economic activity, lack of incentives to perform duties. Conclusions of the research. Thus, zemstvo taxation, which was a system of independent direct taxes, shows financial independence of zemstvo self-government. Statistical studies contributed by zemstvo in the 80s of the XIX century contributed to the improvement of land taxation. Zemstvo assemblies and councils prepared a regulatory framework and gained experience on establishment and collection of zemstvo taxes and performing duties. Regulations of the 1890 provided for preservation of zemstvo’s financial independence but they limited the powers of zemstvo self-government on use of own funds and strengthened state control over financial activities of zemstvo self-government

The article focuses on the analysis of the dynamics and current state of development of public finances in Ukraine. Theoretical aspects of the public finance system are considered, namely: their essence, functions and structure, as well as the modern public finance system of Ukraine, its structure and components. Public finance is a key component of Ukraine's financial system, which owns more than half of all financial resources and includes various financial institutions that perform state functions. The multifunctionality of public finances determines their extensive structure, the main component of which is the State Budget. The implementation of the State Budget of Ukraine for nine years (2013-2021) as a key component of public finances was analyzed. The analysis of the revenue and expenditure part of the State Budget of Ukraine for four years (2018-2021) was conducted, and the shortcomings of the formation and use of budget funds were identified.The study identified the main problems and shortcomings of the public finance system of Ukraine, where the central place is occupied by problems with the formation and use of budget funds and inefficient functioning, resulting in persistent budget deficits, rising debt burden and tax pressure on the population. To eliminate the budget deficit, it is necessary to reduce the number of expenditure items and conduct careful control over expenditures. This paper has developed proposals to improve the state and efficiency of the public finance system, eliminate existing problems of revising and reducing the share of expenditures, increase revenue through non-tax revenues and give autonomy to local governments, which will reduce excessive centralization of the budget system and improve financial position of the state.

Balance on the public debt market is a guarantee of the stability of public finances. The state of public debt and the country's debt security depend on the efficiency of the public debt market of any country. When determining the key determinants of the debt market state, indicators that take into account the macroeconomic conditions of the borrowing country should be taken into account. Therefore, the article focuses on relative indicators. In addition, it is worth taking into account not only the indicators contained in domestic regulations, but also international recommendations. Usually, international standards characterizing debt security are quite high. Compliance with such indicators is primarily important for countries with emerging markets, to which Ukraine belongs. And for highly developed countries, the key is compliance with solvency, not indicators and norms related to the size of the debt and its components. The key determinants of the Ukraine's public debt market state in the pre-war period were the definition and assessment of the following indicators: the ratio of state and guaranteed state debt to gross domestic product, the share of debt in foreign currency, the share of guaranteed debt, the share of external debt, the ratio of gross external debt to GDP and the ratio of official international reserves to external debt, an indicator of the ratio of debt repayment expenditures in relation to general budget expenditures, as well as the ratio of debt service expenditures in budget expenditures. All the analyzed indicators illustrate a permanent excess of the permissible norms, which are substantiated by scientists and recommended by international financial institutions. The high debt burden on the budget and the economy as a whole, caused by the State debt accumulated over the years, is extremely negative. The high level of expenses for maintenance and debt payment makes it necessary to reduce the total expenses of the state, which affects social or other components, or forces to expand fiscal sources and increase fiscal pressure. [ABSTRACT FROM AUTHOR]

In this material, an attempt is made to form a conceptual approach to the optimal management of the creation of organizational and technological systems in domestic high-tech production within the framework of the implementation of the concepts "Industry 4.0" and "Human 2.0". A retrospective analysis of the economic situation in the country was conducted, which led to a decrease in the pace of its innovative development. The conditions under which it is possible for Ukrainian high-tech enterprises to withstand competition, survive, develop, be in the process of self-improvement, in a state of constant search for new organizational forms of functioning and technologies, new strategies of functioning, new types of products and new areas of application of products are defined. The methods of existence of high-tech enterprises are determined - the concept of survival and the concept of breakthrough. Within the framework of the creation of the latest organizational and technological systems, three basic types of general business strategies are proposed - leadership, differentiation, focusing. For the modern practice of management of innovative production from the point of view of intra-company management, the main characteristics are defined - functional, process, system, elemental. The organizational management of a high-tech enterprise when creating modern organizational and technological systems must take into account the following types of modernization: technological, social, institutional, cultural. At the same time, possible ways of restructuring the enterprise are determined. The vital activity of a high-tech enterprise in the relationship of its business processes and business functions is analyzed. A model of the organization of intra-firm management at a high-tech enterprise is proposed. The optimization of the financial and economic management system of a high-tech enterprise is considered taking into account the complexity of the modern production system, its heterogeneity, the changeability of its elements, structural diversity, and the diversity of connections between them. In general, the change in the goals of high-tech production is reflected in the content of the management concept and management structures, as the range of tasks for economic analysis related to the search for optimal conditions for the manufacture and sale of goods, economic risk assessment, and forecasting the behavior of competitors is expanding. There is a need for infrastructural changes, which are determined by the organization and functioning of special units, which are focused on the system of strategic planning and organizational support of decisions. [ABSTRACT FROM AUTHOR]

The purpose of the article is to conduct a historical analysis of the process of recovery of the tax system in the USSR 1943-1945 years, as an important factor of successful financial policy of the Soviet regime. The study used general scientific methods: analysis and synthesis, induction and deduction and special methods of historical research - analysis of archival documents. The paper analyzed measures of Soviet power to establish and restore structure of the tax authorities after the liberation of the USSR from German occupation, difficulties and shortcomings in the functioning of financial SSR and ways to overcome them. [ABSTRACT FROM AUTHOR]

In this material, an attempt is made to form a conceptual approach to the optimal management of the creation of organizational and technological systems in domestic high-tech production within the framework of the implementation of the concepts "Industry 4.0" and "Human 2.0". A retrospective analysis of the economic situation in the country was conducted, which led to a decrease in the pace of its innovative development. The conditions under which it is possible for Ukrainian high-tech enterprises to withstand competition, survive, develop, be in the process of self-improvement, in a state of constant search for new organizational forms of functioning and technologies, new strategies of functioning, new types of products and new areas of application of products are defined. [ABSTRACT FROM AUTHOR]

The processes of globalization in the world economy strengthen the tendency towards greater dependence of national budgetary policies, including those in the sphere of public spending, on international relations. Scientific literature provides in-depth insights into various mechanisms of dependence between public spending and international relations. However, the valid scientific standpoints with respect to some or other consequences for public expenditures in different countries have not been arranged into an integrated system of external factors. The goal of the article is to systematize the studies about the influence of the international relations of a country upon its public spending and to develop theoretical provisions of financial science with respect to transformation of public spending under the influence of international relations. The study proposes to group the factors that affect public spending along the four directions: 1) geopolitical; 2) legal; 3) finance and credit; 4) infrastructural factors. Among the geopolitical factors, which produce the largest influence upon public expenditures, we can identify military aggression, isolation, sanctions, intrusion into national affairs, etc. Important for public expenditures are also the international legal (juridical) factors, in particular legal acts of international institutions with jurisdiction over the state; decisions of international courts; and decisions of international financial organizations. Among the factors of international finance and credit system, which produce an impact on the expenditures of national budgets, we can single out the current state, dynamics and tendencies taking place in the global financial, foreign exchange and credit markets. The consequences of the infrastructural factors for public spending manifest themselves in creation of the objects of global infrastructure, their modification and liquidation. The revealed results enable us to identify with greater clarity the international factors that affect public spending and to better understand the nature of this influence. [ABSTRACT FROM AUTHOR]

The article studies scientific literature concerning the administration of budget risks; as a result, the present examination allows to single out the issues in the current field (a great amount of approaches among scientists to the definition of the concept of budget risk, the definitions of its types and other basic concepts; the absence of established methods of assessment and analysis of budget risks; the absence of the conception of budget risk administration at a state level). The author determines the interconnection between such concepts as «indetermination», «risk», «danger», and «threat»; it allowed to define the concept of budget risk (as a possibility of emerging budget losses because of the impact of a number of factors, which influence budget stability negatively and subject to both qualitative and quantitative assessment). The paper shows the factors, which influence the growth of budget risks. The article is aimed at defining the principal concepts of budget risk administration and the determination of issues in the present field. The prospect for the further study in the present direction is to determine the algorithm of making decision during the administration of budget risks.

The subject of the study is theoretical and practical issues of the formation of budgets of local self-government in the system of social development of territorial communities. The purpose of the study is to reveal the priority tasks for improving the system of formation of budgets of local self-government. Research methods. The paper uses a set of scientific methods and approaches, including systematic, structural, comparative, factor methods, which allowed to realize the conceptual unity of the research. Results of work. The article reveals the role of local self-government budgets in the development of administrative-territorial units. A number of legislative and normative acts on regulation of the process of formation of budgets of local self-government are generalized. The priority tasks of the budget policy concerning support of territorial communities, strengthening of their tax capacity, increase of efficiency of coordination of activity of bodies of state power and local self-government are determined. The article is based on the establishment of an effective institutional framework for the formation of local self-government budgets in the system of social development of territorial communities. The field of application of results. System of state financial regulation, budgetary policy, budget system. Conclusions. The development of the budget system is possible by ensuring the sustainability of the formation of local government budgets in the system of social development of territorial communities, activating their innovation-investment component and strengthening the influence on the socio-economic development of administrative-territorial units. The importance of further enhancing the effectiveness and efficiency of the formation of local government budgets is conditioned by the need to increase the efficiency of the management of public financial resources in the conditions of their constraints, the development of a strategy for the development of local government budgets and the creation of institutional conditions for increasing their self-sufficiency, taking into account the cyclical nature of economic fluctuations and the impact of exogenous and endogenous factors in financially -budgetary environment. At this stage, the important task is to implement effective transformations of the system of forming local budgets by supporting voluntary associations of territorial communities, which necessitates the increase of efficiency and efficiency of administrative decisions of executive bodies and local governments in the field of strategic budget planning. It is advisable to improve the system of monitoring the socioeconomic efficiency of local government budget expenditures by using qualitative and quantitative indicators, introducing medium-term budget planning at the local level, adhering to the principle of transparency and accountability of local self-governance bodies to the public. Important tasks are improving the system of formation of local budgets taking into account application of modern financial-budget methods and tools; Creation of effective incentives to ensure the interest of local self-government bodies in the growth of their own income base and increase their level of responsibility for the use of budget resources; ensuring adequate revenues to local government budgets, and increasing the efficiency of the use of budget resources.

The explanatory memorandum for budget 1918 of Ukrainian Democratic Republic by Kharyton Lebid-Yurchyk as the head of Treasure Department under Ministry of finance was published. In this document, in particular, considering the process of preparing, comparing income and expenses parts of budget. However, the archival source proves, during February 1918 - March 1921 Ukrainian Democratic Republic exist as entire subject of international law, contradict falsification of communistic concept and, unfortunately, some modern Ukrainian historians about existence on this territory at least three "political regimes", "governnements" and even states. [ABSTRACT FROM AUTHOR]

Copyright of Problems of Economy is the property of Research Centre for Industrial Developmen Problems of Nas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The subject of research in the article is the Institute of Minimum Wage (MW). The purpose of the article is to determine the role of MW in the Ukrainian economy at the present stage of its development and the prospects of this institution. In accordance with the logic of scientific research, research methods such as theoretical analysis, including consideration of individual features and new characteristics of problems, the formulation of hypotheses, analogies and the evaluation of collected facts, mathematical and statistical methods are used in the article. It is noted that due to its special urgency, papers devoted to remuneration of labor, a large number, but the effects of the use of MW are discussed now. It is stressed that in Ukraine the minimum wage is one of the basic social guarantees; therefore it is used mainly for political purposes, and not as an instrument for regulating the labor market and a powerful factor of influence on the economy as a whole. The points of view of Ukrainian scientists and well-known politicians are presented and summarized, which reflect the attitude of society towards the increase of MW and its consequences. The author of the article defends the need to increase the level of incomes of the low-paid category of workers, provided that a number of other tasks are fulfilled, primarily, to increase supply in the labor market, create conditions for the development of domestic business, etc. The article discusses the position of the ILO on the use of MW. The concept of individual economists is presented, reflecting the foreign experience of establishing MW in the form of models. It is noted that official statistics on the increase in the average wage in the country runs counter to the reality and data of the sociological survey. Alternative measures to increase MW are named. Conclusions are drawn on the need for the state to abandon populist views on MW as a means of combating poverty in the direction of considering it as a regulator of the economy. The accent was laid on the fact that the creation of jobs and favorable conditions for the development of business, as well as tax reform, should precede the increase of MW. It is also necessary to fight more actively against monopoly, corruption, and misuse of budget funds. The materials of the article can be used for further investigation of the indicated problem.

The subject of research is theoretical and practical issues of budget system as a tool to influence economic development. The aim of the study is to determine the characteristics of the domestic budget system in modern conditions and justification of the directions of its improvement. Research methods. The paper used set of scientific methods and approaches, including systemic, structural, comparative factor that allowed unity to realize the conceptual study. The results. The problems of the budget system. The necessity of a broad application of the principle of transparency in the budget process, which guarantees the efficiency of the whole budget system. Range of application results. The budgetary system of the state and its mechanism of action. Conclusions. Transparency fiscal sphere involves compliance with European principles and standards of state aid to enterprises and industries, clarity and coherence of the legislation on tender purchases and maximum compliance with its rules. Ensuring transparency of public sector is a complex problem that requires a systemic, consistent action in different sectors and areas of government regulation. This task is now to be among the priorities in the plans of the authorities.

The process of the formation and functioning of the Soviet budget and the budget system in the USSR and the Ukrainian SSR is considered on the basis of brochures, books and monographic intelligences published by the financiers and scientists in the 1920s. In particular, the fragmentary character of the history of the emergence of state and local budgets in Ukraine, the contemporary understanding and interpretation of the content of individual terms and concepts, the interpretation of the structure, functions of the budget system, structural and legal aspects of the Union and republican budgets, and the impact of monetary reform on the formation and functioning of the Soviet budget systems. [ABSTRACT FROM AUTHOR]

The subject of research is theoretical and practical approach to the issue of institutional development and implementation of fiscal policy. The study is disclosing the features of the institutional approach and defining problems creating an effective institutional framework development and implementation of fiscal policy. Research methods. The paper used a set of scientific methods and approaches, including systemic, structural, comparative, factorial methods that allowed to realize conceptual integrity of the study. The results of the work. In the article the stages of development and trends institutionalism: social, psychological, social, legal and institutional statistical. The features of theories neoinstytutsionalizmu to ensure the development of the institutional environment of formation of budget policy. The essence fiscal institutions and defined the task of creating an effective institutional framework development and implementation of fiscal policy. Range of application results. The system of financial regulation, fiscal policy, budgetary system. Conclusions. The institutional environment formation and implementation of fiscal policy is a set of interrelated and interacting formal and informal institutions, institutional rules, agreements and standards, mechanisms of financial control over their observance affecting the macroeconomic stability and the results of the country. In the development of the institutional environment of budgetary relations the state plays a significant role in determining the strategic objectives and using modern financial and budgetary instruments to implement them. Institutional organization process of forming fiscal policy affects the sustainability of public finances and overall results of socio-economic development. Financial and budgetary institutions determine the development of the institutional budget system, which provides for the establishment of long-term stable relationships between the institutions that formed evolutionarily. Transformation of fiscal institutions is an important step in the development of public finances, bringing the system moves to a new, more qualitative level of development, confirming the need to improve the institutional framework of fiscal policy that takes into account the cyclical and dynamic socio-economic processes.

The subject of research is theoretical and practical issues of formation of the financial regulation of economic development. The study is disclosure of financial system regulation of economic development, the definition of the institutional framework in the process of the financial mechanism of the economy. Research methods. The paper used a set of scientific methods and approaches, including systemic, structural, comparative, factorial methods that allowed to realize conceptual integrity of the study. The results of the work. The essence and role of financial regulation as a tool for economic development. Developed approaches to enhance the efficiency of financial policy as an important economic institution that has a significant influence on economic growth. The ways of improving the efficiency of fiscal policy in terms of institutional reforms, which is to ensure social development, social protection, taking into account the basic principles of program-target method of budget planning aimed at the performance of budgetary funds. Range of application results. The financial policy of economic development. Financial mechanism in the system of economic relations. Conclusions. Currently, the state financial regulation of the country formed in terms of socio -economic policy, which comes from the necessity of state participation in global economic and financial relations , improving the quality of public social services , which requires the implementation of strategies for economic growth to a new institutional level. State financial strategy should be geared primarily to relevant endogenous growth factors. This fiscal policy as an important component of state economic regulation has lean on long-term program of economic and social development country. In modern terms it is appropriate to strengthen the role of financial policy as an important instrument of macroeconomic effective impact on the achievement of financial and economic balance, effectiveness economic.

The subject of research is theoretical and practical issues of budgeting as a tool for economic growth in the management of public finances. The aim of the study is to outline the role of the budget in the economic growth. Methods. The paper applied a set of scientific methods and approaches, including systemic, structural, comparative, factorial methods, allowing to implement conceptual integrity of the study. The results. The article reveals the essence of the budget as a tool for economic growth and its functions. The problems and ways to improve the budget. Range of application results. The system of financial regulation, fiscal policy, budget system. Range of application results. The system of financial regulation, fiscal policy, budgetary system. Conclusions. The budget is actively used by the state for economic management. It plays a significant role in enhancing the concentration of funds to key areas of socio-economic development, improving sectoral and territorial structure of the economy, accelerating intensification of production according to the level of society. In this budget in all forms of its manifestation and use serves as a tool for economic growth and provides integrated influence on social production and as a financial instrument and as an economic lever, and as an incentive. Strong financial position - the result of systematic work to ensure a balanced budget, the realism of his figures. Resistance budget increased through the use of qualitative economic forecasts and assumptions underlying the budget planning. This important annual assessment and inventory of existing spending commitments. Value of the effectiveness and efficiency of budget funds should be characterized by the achievement of economic and social impact with minimal amounts of budget funds. This optimization of the budget should not affect the quality and level of public services. The budget expenditures must be focused on creating conditions for the development and modernization of economy, efficiency of government, implementation of the strategic objectives of economic growth in the country, which will enable to increase the level and quality of life. Improving quality of budgeting as a tool for economic growth depends on the level of comprehension of its essence, assess the factors that determine the formation of theoretical justification necessary changes depending on budget architectonics cycling socio-economic processes. However, the effectiveness of the budget as a tool for economic growth characterized by its adaptive capacity to the processes of socio-economic development of society and resistance to negative impacts of external economic conditions. The formation of a balanced, sustainable budget in modern terms transformations contribute to macroeconomic stability, in particular through the development and implementation of a coordinated, prudential fiscal policy.

The financial system significant element is consolidated budget, which includes all levels budgets and certain types of centralized funds. The budget policy implemented through the system of budgetary mechanisms and should ensure budgetary equilibrium and effective impact on socio-economic processes. A budget is a powerful tool for influencing socio-economic processes, and it performs regulatory, stimulating, social functions that determine its economic purpose. The mechanism of the volume and structure of budget revenues and expenditures formation is an important part of the budget regulation for ensuring the comprehensive development of society. The authors analyzed and evaluated the consolidated budget of Ukraine for 2008-2017, determined the share of revenue and expenditure components in the structure of the gross domestic product and the consolidated budget of Ukraine. At the same time, the authors analyzed the share of major taxes in the revenues of the Consolidated Budget of Ukraine and evaluated their dynamics in the gross domestic product. The article examines the influence of the budget revenues formation for social and economic development. The budget revenues are the financial and economic basis for the relevant authority members budgeting and performance of functions and tasks of the public authorities. Budget expenditures are an important area of influence on economic and social processes. In the paper, the authors prove that the direction of public expenditures on population social security has a significant impact on the social and economic development of the country. In order to achieve the efficient allocation of budgetary resources in terms of their limitations, improving the quality of public services and the availability of budget for the society is important to use program-target budgeting method. At this stage of development, the important task is to determine priorities in allocating budget expenditures and increase their effective use. The mechanism for evaluating the effectiveness of budget expenditures requires further improvements involving central government, which form the financial policy.

Copyright of Financial Space is the property of Cherkasy Institute of Banking, University of Banking of the National Bank of Ukraine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Economics: Time Realities is the property of Odessa Polytechnic University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Economic Annals-XXI / Ekonomìčnij Časopis-XXI is the property of Institute of Society Transformation and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Ekonomika APK is the property of Economy of Argo-Industrial Complex and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article considers main measures of the financial policy realised in the countries of the world, in particular, Europe, USA, China and Japan, directed at prevention and liquidation of consequences of crisis phenomena of the world economy. It considers programmes of support of economy and financial sector of different countries adopted during the period of the world financial crisis of 2007 - 2009. It marks out that an important element of successful realisation of anti-crisis measures is a correct co-ordination of the budget and tax policy and money and loan policy. It positively marks out experience of application of active arbitrary stimulating policy under crisis conditions. In view of increase of efficiency of macro-economic management an important task of the future would be improvement of anti-crisis mechanisms with consideration of their influence upon short-term dynamics and long-term growth. The conducted analysis allows making a conclusion that mistakes of the financial policy are one of the main reasons of overheating the world economy, while analysis and use of experience of the leading countries of the world would allow increase of quality of the financial policy, directed at reduction of crisis vulnerability. [ABSTRACT FROM AUTHOR]

Copyright of Economics: Time Realities is the property of Odessa Polytechnic University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)