Innovation in Public Finance Management of Sustainable Human Development

Kozarezenko, Liudmyla; Petrushenko, Yuriy; Тулай, Оксана

doi:10.21272/mmi.2018.4-17

MMI

2018

DOI: 10.21272/mmi.2018.4-17

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Innovation in Public Finance Management of Sustainable Human Development

Liudmyla Kozarezenko¹,

Yuriy Petrushenko²,

Оксана Тулай³

Abstract: It is proved that peculiarities of countries with the social-oriented economy are defined by either sufficient costs for the social sphere maintenance and development, or also by their essential influence on the citizens' welfare, as evidenced by the human development index, which is calculated on the basis of the citizens' material situation indicators and social and demographic indicators. Countries with Scandinavian and Western European social and economic development models are in the category with the hig… Show more

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Cited by 4 publications

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“…M. Palienko et al (2017) identified the role of fiscal decentralisation and its impact on macroeconomic stability. L. Kozarezenko et al (2018) analysed the impact of fiscal decentralisation in Ukraine on the development of human capital in territorial communities. T. Vasylieva et al (2018) analysed the arguments and counterarguments within the scientific debate on determining the optimal level of decentralisation that would contribute to the country's innovative development.…”

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Innovations in Management of Fiscal Equalisation: Decentralization Reform

Petrushenko

Венцель

Garbuz

et al. 2020

MMI

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The article summarises the results of scientific analysis of the effectiveness of the system of horizontal financial equalisation as a tool for reducing inter-territorial economic and social disparities. The primary purpose of this study is to substantiate innovative approaches to improving the efficiency of the system of financial equalisation and operational management of financial imbalances of territories in the context of decentralisation reform. The subject of the study is the processes of management of the financial equalisation system in Ukraine since 2015, as it was at this time that the decentralisation reform began, the basis of which was the redistribution of financial resources. The presence of several unresolved practical and, therefore, technical and methodological tasks in the process of implementing the financial equalisation policy in Ukraine in the period 2015-2020 has made the research relevant. The comparative analysis of the system of horizontal financial equalisation in Ukraine in terms of its effectiveness in reducing inter-territorial fiscal imbalances and assessing the effectiveness of the authors’ innovative approaches to managing the financial equalisation system became a methodological tool of the study. Statistical and econometric methods were used to verify the obtained results. The results of the study showed that the current approach to financial equalisation of disparities in the local budgets of Ukraine is not sufficient and needs improvement. New management approaches have been developed in the system of financial management of territories aimed at improving the mechanism of horizontal equalisation of local budgets, in particular, at reducing the number of local budgets, which receive essential subsidies from the state budget and improving the efficiency of the horizontal equalisation system in terms of reducing financial disparities between local budgets. Because of these goals, the analysis of the inclusion of the country’s capital (Kyiv) into the national financial equalisation system was carried out. The study also substantiates the need for permanent monitoring of financial equalisation effectiveness. For a better understanding of how effectively the system of horizontal equalisation of fiscal revenues of territories functions, it is proposed to carry out a constant (annual) analysis of standard deviation indicators and other indicators that characterise its effectiveness. The results of the study can be useful both for state bodies planning and implementing the state budget and for implementing local financial policies by local self-governments. Keywords management, innovation, financial equalisation, budget, imbalance, asymmetry, decentralisation.

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confidence: 99%

Innovations in Management of Fiscal Equalisation: Decentralization Reform

Petrushenko

Венцель

Garbuz

et al. 2020

MMI

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Analysis of Financial Self-Sufficiency of Local Budgets on the Example of Sumy Region

Kuznetsova¹,

Боронос

Zakharkin

et al. 2020

VSDU

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The analysis of publishing activity on the formation and implementation of local budgets in terms of ensuring their financial self-sufficiency has shown an increase in recent scientific interest in this issue, which indicates its relevance. This interest is especially important in the context of decentralization budget reforms in recent years. Thus, the purpose of this study is to analyze the self-sufficiency of local budgets in terms of decentralization reforms of the budget system and new conditions for the formation of the revenue side of local budgets. In the process of performing the tasks of the work the methods of economic, system and comparative analysis and synthesis were used. The analysis of statistical data on the indicators of the revenue side of local budgets was carried out using calculation-analytical, graphical methods. The paper analyzes the main definitions of the concept of financial self-sufficiency, and determines that most of them are based on the resource approach and assume the availability of sufficient financial resources to meet the economic and social needs of the region. Amendments to the Budget Code provide for the redistribution of tax revenues in favor of local budgets in terms of personal income tax, excise tax, income tax and other taxes. The analysis of the structure of the consolidated budget of Sumy region showed that the key source of formation of its revenue part is the receipt of funds from the personal income tax and local taxes. At the same time, revenues from these sources have increased significantly in recent years, primarily due to the growth of the minimum wage, as well as the intensification of entrepreneurial activity. The analysis of the volumes of local taxes and fees by cities of oblast subordination showed that the largest volumes of revenues are brought by the single tax and payment for land. As an indicator of the level of financial self-sufficiency of local budgets, it is proposed to use the share of own revenues in the total amount of budget revenues. According to which indicator a comparative analysis of the consolidated budgets of Sumy, Kharkiv and Poltava regions was conducted and it was determined that Kharkiv region has the highest level of financial self-sufficiency.

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Formation of Financial Self-Sufficiency for Local Budgets in Ukraine: Problems and Prospects of Increasing the Revenue Base

et al. 2020

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The guarantee for stable development of the local community's well-being creates conditions to ensure the financial self-sufficiency for local budgets. Today it is urgent to improve the theoretical and practical approaches to forming the local budget revenue to ensure the necessary financial self-sufficiency level for local budgets. Thus, the purpose of this research is to investigate the level of financial self-sufficiency for local budgets in Ukraine in 1998−2019 by analyzing the revenue side of these budgets. The research used methods of economic, systemic, and structural dynamic analysis. The paper compares different approaches to defining the concept of “financial self-sufficiency for local budgets”. It is determined that the community's success depends on the level of its financial self-sufficiency, which is possible only when the community has financial resources fully to implement local budgets in terms of expenditures. Structural and dynamic analysis of the local budget revenue in Ukraine for 1998-2019 is carried out to assess the level of financial self-sufficiency for local budgets in Ukraine as a whole. The study results indicate the state measures correctness in the reforming of the local taxation system in 2010 and budget decentralization in 2015. However, these measures must be fully implemented and systemic. Conclusions: the composition and structure of the revenues of the local budgets are continually changing, due to the constant changes in the tax system of Ukraine and the state’s efforts to solve the problem of generating local budget revenues, not due to the development of local taxation, but via official transfers. In such conditions, the self-sufficiency of local budgets does not receive the appropriate level. Local budgets are formed on the principle of minimum execution. However, the local taxation system development and the significant increase in tax revenues from local taxes since 2015 allow us to make optimistic forecasts for the growth of the financial self-sufficiency level for local budgets in the future. Keywords: self-sufficiency, community, budget, taxes.

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Innovation in Public Finance Management of Sustainable Human Development

Cited by 4 publications

References 0 publications

Innovations in Management of Fiscal Equalisation: Decentralization Reform

Innovations in Management of Fiscal Equalisation: Decentralization Reform

Analysis of Financial Self-Sufficiency of Local Budgets on the Example of Sumy Region

Formation of Financial Self-Sufficiency for Local Budgets in Ukraine: Problems and Prospects of Increasing the Revenue Base

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