The financial policy as the tool of state economic sovereignty implementation

Nataliia Volodymyrivna Tkachenko


Abstract


Introduction. The development of society is accompanied by the need to improve the level of quality of the formation and the implementation of fiscal policy in relation to the transformation of economic processes. Financial policy plays an important role in ensuring the viability of the state. Nonweighted financial policy, without taking into account the cyclical economic development can destabilize public finances. The imbalance of public finances is one of the biggest threats to the economic sovereignty of the state, one of the main factors deterring economic development and the welfare of the population, hence the need to find ways to improve the efficiency of fiscal policy as the prerequisite for macroeconomic stability.

Purpose. The aim of the article is to clarify the significance of financial policy in ensuring economic sovereignty of the country and justification of choice the areas to strengthen economic sovereignty through the implementation of effective financial policy in the interests of the national interests of economic development in a global economy.

Method (methodology). To achieve definite goal we have used the methods of data collection and collation of information. A retrospective analysis has been done to identify the effect of individual factors on the change in the state of public finances

Results. The basis of sovereignty in terms of external is considered. A special focus is put on the economic component. The composition, the peculiarities of financial sovereignty and limit signs sovereignty in the economic sphere are defined. Directions of strengthen economic sovereignty through effective implementation of financial policies are formulated. Consistent implementation of fiscal policies aimed at ensuring the long-term balance and stability of the budget system will make favorable conditions for maintaining financial and macroeconomic stability, strengthen the economic sovereignty of the state. It has been concluded that the financial system of each state must have the potential of autonomy, sufficient for the work in closed mode in the periods of global financial crisis. 


Keywords


financial policy; economic sovereignty; fiscal sovereignty; debt bondage; public debt; state budget

Full Text:

PDF

References


Busel, V. T. (2005). Velykyj tlumachnyj slovnyk suchasnoi ukrains'koi movy. Irpin': Perun.

Davyskiba, E. V. & Berezhnaja, Ju. V. (2011). Fiskal'nyj suverenitet kak osnova nacional'noj nalogovoj bezopasnosti. Biznesinform, 2(2), 49-51.

Jur'eva, N. P. (2009). Nacional'nyj jekonomicheskij suverenitet v uslovijah globalizacii. Dissertation Abstract, Moskva.

Kolodko, G. (2004). Globalizacija i jekonomicheskij rost. Mir peremen, 1, 140-148.

Orlov, M. Ju. (2006). Nalog kak forma razumnogo ogranichenija fiskal'nogo suvereniteta gosudarstva. Finansovoe pravo, 2, 18-23.

Babich, I. V. (2011). Metody upravlenija gosudarstvennym dolgom. Vestnik Saratovstkogo gosudarstvennogo social'no-jekonomicheskogo universiteta, 5, 120–122.

Biudzhetnyj kodeks Ukrainy vid 08.07.2010 № 2456-VI. (2010). Retrieved from http://zakon4.rada.gov.ua/laws/show/2456-17

Ofitsijni dani Ministerstva finansiv Ukrainy. (2015). Retrieved from http://www.minfin.gov.ua.

Ofitsijni dani Derzhavnoi sluzhby statystyky Ukrainy. (2015). Retrieved from http://www.ukrstat.gov.ua.

Finansovyj portal «Minfin». (2015). Retrieved from http://index. minfin.com.ua/index/gdp.

Kudrjashov, V. P. (2012). Ustojchivost' gosudarstvennyh finansov. Jekonomika Ukrainy, 10, 54-67.

Salivon, S. D. (2015). Koty iz meshka. Biznes,1-2, 6-7.


Article Metrics

Metrics Loading ...

Metrics powered by PLOS ALM

Refbacks

  • There are currently no refbacks.




Copyright (c)



 

Articles are distributed under Creative Commons Attribution  International 4.0 (CC-BY-NC 4.0) 


Science Works Journal "Ekonomichnyy analiz"

ISSN 1993-0259 (Print)  ISSN 2219-4649 (Online) DOI: 10.35774/econa


© West Ukrainian National University

© «Ekonomichnyy analiz», 2007-2023