Government financial policy for social development

Work number - M 4 AWARDED

Kyiv National University of Trade and Economics

Liudmyla Kozarezenko, Valentyna Makogon, Mykola Pasichnyi

The purpose of this study is to determine theoretical foundations as well as to improve both preparation’s and implementation’s methodological bases of the government financial policy for social development.

The expediency of institutional modifications in the preparation and implementation processes of the government financial policy for social development, aiming to enhance its function as a stimulus under conditions of economic transformations, was substantiated.It was determined that financial policy’s basic formation principles for a country with an emerging economy at the stage of its institutional structure’s development should include logical consistency, adaptability, alternativeness, systemic approach, institutional certainty, and neutrality. It was proved that economic and social development priorities both for the country and its administrative units had not been sufficiently determined yet among the main tasks, targeting to increase public welfare.Meanwhile, the proper level of its components’ funding was identified as a significant tool for innovation activity’s stimulation and social stability’s achievement. It was concluded that consistent and well-balanced use of fiscal policy’s instruments in the field of social development was a prerequisite for an institutional environment’s formation. Implementation of the above will contribute to the income distribution’s equalization, the public services’ accessibility and quality improvement, the criteria system’s – focused to determine the need in social assistance – refinement, the quality level’s and average life expectancy’s rise, the competitive educational and scientific environment’s creation.

The advantage of the submitted scientific work consists in the financial policy’s for social development strategic directions determination, regarding the constant need to maintain the social stability, to provide the national economy’s technological modernization, to induce human development, and to refine the financial system’s institutional infrastructure. The scientific relevance arises from the quality increase in theoretical and methodological principles of the financial policy’s preparation.

According to the results of research on the proposed issues, the authors have published 163scientific works, including8monographs (2 published in the EU), and 122 articles (9 covered by Scopus and Web of Science). According to the Scopus database, the total number of links to authors' publications presented in the work is 4, h-index (at work) = 2; according to the Google Scholar database, the total number of links is 327, the h-index (at work) = 9.

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