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https://doi.org/10.18664/338.47:338.45.v0i64.149970
Copy DOIPublication Date: Dec 4, 2018 | |
Citations: 1 | License type: cc-by-nc-nd |
The article substantiates the primary role of the financial component in shaping the economic security of the state. Financial security is understood to be such a state of the monetary, budgetary, tax systems, which is characterized by the ability of the state and regions at a sufficient level to ensure the effective functioning of economic systems, their structural balance, resistance to internal and external negative impacts. The indicators that form the overall level of financial security are considered: gross value added, budget revenues, the amount of actual taxes and fees to the budgets and state trust funds, securities turnover, accounts receivable, payables, production costs. An algorithm is proposed for calculating the financial security of the region for each component. A situational analysis of the financial security of Ukraine in the regional dimension for the period 2000-2017 has been carried out. The strengths of the financial security of Ukraine in the regional dimension include: the possibility of financial support for regions from the state in the event of a crisis, providing them with a system of benefits and subsidies; the relative effectiveness of the transfer policy of the state in relation to the regions; the rapid growth of the stock market (more than 25 times in the period from 2001 to 2017); development of financial infrastructure in the regional dimension (stock exchanges, insurance companies, funds). The weaknesses of the financial security of Ukraine in the regional dimension include: a decline in many of the stimulant indicators, both in the national dimension and in the regional dimension; significant influence of the disincentive component on the financial security index; the lack of real financial independence of most regions of Ukraine; the localization of high values of indicators-destimulators in Kiev, which creates a threat to the financial system not only of the region, but also of the state; a high level of dependence of local budgets on the state; transfer payments to regions with a high level of economic development; high levels of territorial differentiation in basic safety indicators. The possibilities of financial security of Ukraine in the regional dimension include strengthening the influence of the incentive component on the ratio of financial security, taking into account the existing economic growth; extending the autonomy of local executive bodies for conducting financial policies; improvement of budgetary relations; reduction of the level of territorial differentiation in the main safety indicators. The proposed measures to improve the situation in the direction of ensuring the financial security of the state and regions: strengthening its own financial system, creating the conditions for optimizing incentive indicators; development of a set of measures to improve the management of the financial processes of the state and regions; reducing the influence of the disincentive component on the functioning of the economic system of the capital; expanding the independence of the regions for financial policy; improving the budget system, identifying ways to enhance the role of local revenues in the formation of budget revenues.
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