Distribution Of Financial Resources Research Articles

THE MODEL OF THE FISCAL POLICY ECO-CONSCIOUSNESS INDEX

The author of the article developed a model of the fiscal policy eco-consciousness index, which provides a comprehensive assessment of the tax system, the system of tax control and administration, the system of distribution of financial resources by budget levels and by types of budget expenditures regarding their compliance with the principles of sustainability. For each component of the fiscal policy eco-consciousness index, blocks of directions for this assessment and the criteria for its implementation have been determined, which will be used to develop a system of indicators in the future.

Theoretical foundations of diversification of enterprise activities in conditions of economic instability

The article substantiates theoretical approaches to the concept of «diversification». It provides a meaningful definition, identifying signs and critical characteristics in the context of its development in conditions of economic instability. Based on a broad analysis of the definitions of diversification, the author's theory is formulated, the essence of which is that «diversification» is a strategy aimed at improving the efficiency of the enterprise's functioning in conditions of instability by changing the range of products, sales markets, distribution of risks, achieving economic benefits, preventing bankruptcy, and using available opportunities. The signs of diversification are defined, including target orientation, distribution of financial resources, penetration into new spheres and industries, expansion of geographical boundaries of activity, expansion of the range, development of new types of production and technologies, entry of enterprise into new sectors of the market, change of organizational structures. It is determined that the concepts of diversification of enterprise activity show its importance as a development strategy. The main characteristics of this strategy include structure, multidimensionality, dynamism, purposefulness, emergence, and feedback. It has been found that enterprises resort to diversification for various reasons, such as market stagnation, the desire to expand the range of activities, identifying new opportunities, and others. It is determined that the primary motive for using diversification is the desire to increase the efficiency of the enterprise not only at the current moment and shortly but also for the long term. A classification of motives for diversifying enterprise activities with their division into technical-technological, economic, financial, social, and strategic has been carried out. It is substantiated that the choice of a specific way of diversification depends on the financial condition of the enterprise, the capabilities of different industries, and the duration of such a strategy. Keywords: management, diversification, market, strategy, motives.

Devising a procedure of state financial protectionism in the agricultural industry in the context of regionalization

This paper considers the issue of state financial protectionism of the agricultural industry in the context of regionalization. A comprehensive methodology of state financial protectionism of the agricultural industry in the context of regionalization has been proposed, taking into consideration IPR and the value of the agricultural industry in a region. Based on statistical data on the indicators of investment attractiveness of the region (IAR) and the value of the agricultural industry in a region, regions for financing were determined. The problem of determining the fate of state financial protectionism for the agricultural industry in the context of regionalization has been stated and solved. The proposed methodology was tested by an experimental method. It is proposed that the state financial protectionism in the context of regionalization should include budget (investment) financial injections based on the investment attractiveness of a region and the value of the agricultural industry in the region, which are directed to the agricultural sector, in order to support it. The calculation results show that the distribution of financial resources with the available amount of public finances S=1 allocated for support is carried out proportionally. The comprehensive approach has made it possible to identify four regions for financing, and those are the regions that have the greatest value in the agricultural industry. Practical value is for management bodies (local, territorial, etc.) in the distribution of funds according to the vector of protectionism of the agricultural industry. The theoretical value is for researchers dealing with financial support, state protectionism, and public administration

Economic Resources Shaping Grandparent Responsibility Within Three-Generation Households.

The purpose of this descriptive study was to explore factors associated with perceptions of grandparent responsibility for grandchildren in three-generation households, focusing especially on a comparison of grandparents’ and parents’ financial contributions to the household and ethnicity of grandparent(s). The analysis used information about three-generation families in the 2011–2015 American Community Survey, retrieved through the Integrated Public Use Microdata Series. In 30% of these families, grandparents said they were “primarily responsible” for the grandchildren, even though the child’s parent was also in the household. Logistic regression models showed that grandparents who contributed a larger share of household income and grandparents who were householders were significantly more likely to report being primarily responsible for grandchildren in three-generation households, suggesting that the distribution of financial resources (or resource balance) within the household was associated with perceptions of responsibility. However, grandparents’ race and ethnicity moderated this association, indicating that cultural norms may intersect with resources in shaping these reports. The findings suggest that perceived responsibilities of grandparents in three-generation households may be shaped by the balance of financial resources among household members, but also by cultural norms of grandparenting.

Analyzing the relevance of capitalization parameters in the income approach for business valuation

Subject. The article addresses capitalization parameters (income, financial result, cash flow) in the income approach to valuation. Objectives. The purpose is to develop methodological approaches to verification and confirmation of relevance of parameters in the income-based approach to business valuation. Methods. The study rests on general scientific and special methods of cognition, including the structuring, comparison, modeling (matrix models to analyze the distribution and redistribution of cash flows), formalization, methodology for generation and analysis of cash flow statements under indirect method, techniques and methods of financial analysis. Results. Confirmation of capitalization parameters in the income approach to business valuation model assumes two prerequisites being met simultaneously, i.e. securing the owner’s income from business ownership and retaining specified business performance indicators. Capitalization parameters for compliance with these two criteria were verified, using the matrix models for financial resources distribution. This enabled monetary security of profit, which, under the prevailing financial proportions, is not invested in either current or investment activities, and can be distributed among owners without affecting further business development and without attracting external borrowings. Conclusions. The permissible multivariance of capitalization parameters in the income approach to business valuation forms a significant range of possible estimates and the uncertainty of final result. Increased accuracy is achieved through the procedure for verification of initial parameters for synchronous compliance with requirements, namely, securing the owner’s income from business ownership and retaining specified business performance indicators.

ПРОБЛЕМЫ И ТЕНДЕНЦИИ РАЗВИТИЯ ФОНДОВОГО РЫНКА РОССИИ

The article is devoted to the research analysis of the current patterns of development of the domestic stock market. An assessment of the dynamics of the stock market volumes is given. The trends in the movement of the market value of shares of Russian companies and the influence of factors on this process are analyzed. A comparative analysis of the dynamics of the stock market in Russia and the USA is carried out. We also raised the issue of the development of economic relations in Russia characterized by the creation of an effective and transparent mechanism for the formation and distribution of financial resources between economic entities in accordance with market rules and laws. One of these generating and redistributing channels should be the securities market, as an integral part of ensuring the integrity and functioning of all elements of the economic system of the state. In conclusion, it was concluded that the main goal of the Russian market is its transformation into a productive mechanism for reducing the uncertainty of financial activity, which is based on the implementation of an appropriate active state policy

Optimization of management of financial flows of a group of companies

The main task of financial management in groups of companies is to coordinate financial flows and improve the efficiency of their management. The search and substantiation of economically feasible solutions to these problems is hampered by the presence of many different types of consolidated associations that do not allow a single approach to financial management to be applied. Therefore, the processes of modeling financial flows of groups of companies based on modern principles of financial management are gaining relevance. The purpose of this study is to develop a model for managing the financial flows of a group of companies, taking into account the specifics of its activities within the framework of the formation of an effective financial management system. A systematic approach, theoretical and practical research of specialists in financial management, methods of economic and mathematical modeling are used. The paper substantiates the need to form a single financial center in groups of companies that performs treasury, clearing and credit functions, identifies the features of the implementation of financial functions by a single financial center within the type of a group of companies. Models for managing financial flows of a group of companies are proposed, which are an algorithm for maximizing individual positive synergistic effects of a group of companies that are predicted to be obtained as a result of performing functions assigned to a single financial center. The practical value of the work lies in the possibility of using the presented models for managing financial flows in the activities of Russian groups of companies and integration associations, which contributes to the formation of an effective financial management system. It is concluded that building a model for managing the financial flows of a group of companies involves defining the target function of the activities of the companies that are part of the group, and setting a system of restrictions in which the participants have to work; development of an algorithm for the optimal distribution of financial resources between participants, carrying out mutual settlements and implementing intragroup lending.

ТЕОРЕТИЧНІ ЗАСАДИ УПРАВЛІННЯ ФІНАНСОВОЮ СТІЙКІСТЮ ПІДПРИЄМСТВА

The article defines the essence, role, and significance of the financial stability of the enterprise and states that it is one of the critical foundations of stable financing of the business entity. The article provides the main factors that affect the financial stability of enterprises, as well as the basic principles of their maintenance. The authors investigated the economic essence of the concept of managing the financial stability of the enterprise. The authors provided their own actual interpretation of the concept of capital, based on the analysis of the essence of this category by various scientists. The authors indicated capital as a set of strategic and operational management decisions regarding the formation and distribution of financial resources in order for the enterprise to achieve the necessary level of financial stability, autonomy, and independence. The article defines the purpose, tasks, and principles of managing the enterprise’s financial stability, as well as provides the main stages of managing it. Such an algorithm of actions allows the timely identification of problematic financial aspects and the development of ways to eliminate them and increase the level of financial stability of the enterprise. The authors noted that an important component in the process of managing the financial stability of the enterprise is the analysis of financial stability itself, which makes it possible to evaluate the ability of the enterprise to adapt to external conditions and determine the degree of its independence from external financial support. The article defines both absolute and relative indicators, which make it possible to assess the financial stability of the enterprise. The system of relative indicators that determine the level of financial stability of the enterprise is divided into groups: capitalization ratios and coverage ratios. The set of indicators of financial stability makes it possible to determine the availability, allocation, and use of the available resources of the business entity as well as its real and potential financial capabilities. The authors carried out an analysis of the relative indicators of the financial stability of domestic enterprises based on statistical information. This, in turn, made it possible to make a conclusion about the insufficiency of their owned capital and a significant amount of loan capital, which negatively affects their financial autonomy, independence, and stability.

Analysis of financial resources for public health in Brazilian capitals: a time trend ecological study.

This study aimed to analyze part of the financial resources used to fund public health actions in the 26-Brazilian capitals, from 2008 to 2018. This is a time-trend ecological study involving revenue and expenditure indicators provided by the Information System on Public Budget for Health (SIOPS). The values were deflated based on the Extended National Consumer Price Index of 2018 in Brazil to allow the comparison over the years. The mean annual variation of health investments, in Brazilian Reais (BRL) was assessed using linear regressions. Pearson's correlation coefficients were estimated between federal revenues and expenditures with the capitals' resources. All capitals presented statistically significant positive correlations for the origin of the budget resource invested in health. The lowest coefficient was found in the capital city of Macapá (Amapá State) (r = 0.860) and the highest, in Fortaleza (Ceará State) (r = 0.997). Belo Horizonte (Minas Gerais State) was the capital with the highest annual increase in federal transfers (about BRL 67.91 per year) and Teresina (Piauí State) presented the highest annual increase in health expenditures among the capitals (about BRL 55.42 per year). We found a increase in the transfers of the Brazilian Unified National Health System (SUS) and municipal resources in almost all capitals, but there are still inequalities in the distribution of financial resources among Brazilian capitals from different regions. Health funding is affected by the municipalization of SUS and it is not the single factor affecting the access and quality of health services.

Національний банк України та його роль у реалізації грошово-кредитної політики у воєнний час

The article examines the purpose, methods and tools of the monetary and credit policy of the National Bank of Ukraine. It is determined that the NBU is the main State-authorized institution in Ukraine, which is responsible for planning and implementing monetary and credit policy. Monetary and credit policy is a complex of measures in the field of money circulation and credit, which are intended to ensure the stability of the monetary unit of Ukraine due to the introduction of regulated by law funds and techniques. It is established that the financial sector is the key element of the national economy; its vital functions ensure the sustainable development of the economy, the creation and distribution of financial resources and services, the accumulation of investment capital, as well as the improvement of macroeconomic and monetary indicators. In today's harsh conditions such as: rising inflation, destruction of transport infrastructure, decline of business, reduction of sown areas, blockade of ports, devaluation of the UAH, growth of the budget deficit, issues of monetary regulation are becoming extremely important. The war projected on the country's economy, has become a difficult challenge for the National Bank in improving and adjusting the current monetary and credit policy, finding innovative mechanisms for its implementation. Carrying out an active foreign policy, attracting funds from the IMF, the World and European Banks, opening a special account to raise funds from individuals - these are some of the tools used by the NBU in wartime. On the other hand, the pressure on the world community is aimed at ending trade relations with the aggressor country, helping to minimize any attraction of funds into the Russian budget, thus depriving them of the opportunity to finance the war. Another important tool is the analysis of the world experience of countries in resolving the postwar crisis, and the adoption of their tools and mechanisms for economic recovery - all this is the purpose of this article.

The future of the Russian financial market in the global and international distribution of financial resources

The future of the Russian financial market in the global and international distribution of financial resources

An Empirical Study on the Efficiency of Financial Support for Economic Development in Henan Province Based on DEA Malmquist Index Method

The report of the 19th National People’s Congress points out that China’s social economy will gradually transition from the pursuit of high-speed operation to the pursuit of high-quality economic operation. The financial industries will strongly support the economic development in all aspects, however, studies show that the efficiency of finance in supporting economic development presents regional differences. This paper adopts the universally applicable DEA-Malmquist method and takes the panel data of Henan Province from 2013 to 2019 as the benchmark to calculate and study the input-output ratio of financial support for economic operation and development in each region of Henan Province, and the results show that the overall efficiency of financial service economy in each urban area of Henan Province has increased in the past seven years. According to the measured results in the first four parts of the most efficiency increase is analyzed, and based on the analysis results in the economic development of Henan province put forward some proposals in the new journey, increase the intensity of financial innovation and development, to carry out in-depth financial inclusion work, and to solve the problem that small and micro enterprises faced in raising funds and the slow pace of raising funds, in order to achieve a reasonable distribution of financial resources between the suppliers of funds and the demanders of funds.

METHODOLOGICAL APPROACH TO JUSTIFICATION OF THE DISTRIBUTION OF FINANCIAL RESOURCES BETWEEN TYPES (KINDS OF TROOPS) OF THE ARMED FORCES OF UKRAINE

The purpose of the article. The study emphasizes that recently a lot of attention has been paid to the issues of financial support of the Armed Forces of Ukraine, as well as ensuring the required level of combat capability of troops (forces). It was found out that the technical re-equipment of the army is one of the main priorities of our country, as the combat capability of the Armed Forces of Ukraine depends, first of all, on equipping them with combat-ready models of weapons. The article presents a methodical approach to substantiating the distribution of financial resources between types (types of troops) of the Armed Forces (AF) of Ukraine. The application of this approach will allow to determine the required number of combat-ready samples of weapons and military equipment (ART) for the operation (combat operations) during a certain period and to achieve a given level of combat capability of units. The peculiarities of this approach are as follows: first, the cost of acquiring weapons for a particular type of troops is calculated not only by the main types (groups, types) of weapons, and other types (groups, types) of weapons, which ensures the principle of structure of existing weapons. formation; secondly, to determine the total cost of acquiring weapons for military units, the provisions of the intersectoral balance Leontiev V. with direct costs, which provides the principle of complexity in assessing the necessary financial resources for types (types of troops) of the Armed Forces of Ukraine to ensure their weapons; thirdly, a relationship is established between the equipment of a certain number of combat-capable weapons of a certain military formation and the achieved level of its combat capability through the application of the theory of averted damage. In order to successfully apply the proposed approach, it is necessary to have clear initial data on the current state of weapons in the Armed Forces of Ukraine. Conclusion. Prospects for further research are to develop, in accordance with the above material, recommendations for the application of this approach to justify the distribution of financial resources between types (types of troops) of the Armed Forces with a given level of combat capability to determine the required number of combat-ready samples of weapons for the types for the purpose of conducting operations (combat operations) during a certain period. Key words: types (types of troops), interbranch balance V. Leontiev with direct costs, armament and military equipment, level of combat capability, distribution of financial resources, theory of averted damage.

Informing Equitable Water and Food Policies through Accurate Spatial Information on Irrigated Areas in Smallholder Farming Systems.

Accurate information on irrigated areas' spatial distribution and extent are crucial in enhancing agricultural water productivity, water resources management, and formulating strategic policies that enhance water and food security and ecologically sustainable development. However, data are typically limited for smallholder irrigated areas, which is key to achieving social equity and equal distribution of financial resources. This study addressed this gap by delineating disaggregated smallholder and commercial irrigated areas through the random forest algorithm, a non-parametric machine learning classifier. Location within or outside former apartheid "homelands" was taken as a proxy for smallholder, and commercial irrigation. Being in a medium rainfall area, the huge irrigation potential of the Inkomati-Usuthu Water Management Area (UWMA) is already well developed for commercial crop production outside former homelands. However, information about the spatial distribution and extent of irrigated areas within former homelands, which is largely informal, was missing. Therefore, we first classified cultivated lands in 2019 and 2020 as a baseline, from where the Normalised Difference Vegetation Index (NDVI) was used to distinguish irrigated from rainfed, focusing on the dry winter period when crops are predominately irrigated. The mapping accuracy of 84.9% improved the efficacy in defining the actual spatial extent of current irrigated areas at both smallholder and commercial spatial scales. The proportion of irrigated areas was high for both commercial (92.5%) and smallholder (96.2%) irrigation. Moreover, smallholder irrigation increased by over 19% between 2019 and 2020, compared to slightly over 7% in the commercial sector. Such information is critical for policy formulation regarding equitable and inclusive water allocation, irrigation expansion, land reform, and food and water security in smallholder farming systems.

Modeling the Business Environment of an Energy Holding in the Formation of a Financial Strategy

This article consists of the development of a set of methodological provisions concerning the identification of the features of the influence of the business environment on the effectiveness of the implementation of the company’s financial strategy and the development of a system for its adaptation to the conditions of a dynamic external environment. The purpose of this article is to build an economic and mathematical model to identify the main elements of the business environment that affect the company’s strategy, the formation of methods for evaluating the effectiveness of the implementation of a financial strategy taking into account such influence. The author’s contribution consists in the development of an effective financial algorithmic strategy of the energy holding, considering the influence of the environmental factors. Hypothesis: the use of mathematical models of the business environment will increase the efficiency of energy holding management in the field of finance and investments. The scientific novelty of this article lies in the development of an algorithm that allows for obtaining an integral assessment of the impact of external and internal factors of the energy holding’s business environment on its financial strategy using taxonomy methods, multidimensional statistical analysis and cluster and discriminant models. Results: the authors have developed a model of the influence of the energy holding’s business space, which allows improving the interaction of financial flows within the holding and obtaining an optimal distribution of financial resources, taking into consideration the dynamic factors of the company’s external environment.

Distribution of financial resources by areas of investments in the human capital of the region

Introduction. The study has been conducted within the framework of the urgent scientific and practical task of accumulation and development of human capital of Russian regions. Under the conditions of risks and limited resources, the regional management faces the task of optimal distribution of financial resources invested in the development of human capital and improvement of the quality of life. The study aims to build and test the dynamic optimization model of financial resources distribution by areas of investment in human capital through the example of the Primorye Territory (Russian Federation). Materials and methods. The multi-period economic and mathematical model describes the influence of the volumes and structure of public and private investments on the regional human capital in the form of recurrent dependencies. The target function of the model is an integrated index of achieving the objectives for the development of human capital in the region. The model is a mathematical programming problem, the optimization variables are the shares of investment resources distributed by investment areas and years. Results. In a practical sense, the proposed model is a management tool for searching the optimal structure of investments in human capital by areas of investment and periods. Based on the annual results of modeling and numerical calculations through the example of the Primorye Territory (Russian Federation), the structure of the investments that allow advancing in the achievement of target values of strategic indicators in the field of human capital development is offered. Conclusion. In the long term, the achievement of target indicators will be facilitated by a more even structure of investments in the following areas: along with education and health care, it is advisable to increase investments in other areas, first of all, in the issues of national importance, national security, public order, and social policy.

ОЦІНЮВАННЯ ІНВЕСТИЦІЙНИХ РИЗИКІВ ПРОМИСЛОВОГО ПІДПРИЄМСТВА

Анотація. Метою статті є дослідження особливостей інвестиційних ризиків і визначення відповідних методів щодо їх оцінювання у процесі господарської діяльності підприємстві. Сформовано науково-практичний підхід щодо економіко-математичного моделювання на основі мінімізації ризику інвестиційного портфеля задля ухвалення ефективних управлінських рішень. Сучасні методи управління економікою значною мірою спираються на застосуванні економіко-математичних методів, а саме моделювання. Процес інвестування пов’язаний із ризиками. Нестабільність у розвитку сучасної економіки призводить до похибок при ухваленні рішень щодо управління промисловим підприємством. Перш за все, це пов’язано з розподілом фінансових коштів, які зберігаються на балансі підприємств. У підсумку це призведе до наявності фінансового ризику при розподілі фінансів. Наукові доробки зумовлюють актуальність і необхідність подальшого дослідження питання щодо особливостей інвестування для підприємств із відповідним оцінюванням ризику. Формально представлена постановка завдання і послідовне її вирішення шляхом реалізації відповідного алгоритму задля коригування його вартості.. Запропоновано постановку і вирішення завдань формування фінансового портфеля на основі мінімізації фінансового ризику і відповідних втрат, що дозволяє ефективно розподілити фінансові кошти промислового підприємства. Доведено, що для збереження стабільної структури портфеля доцільно мінімізувати дисперсію за обмежень, які накладені на величину інвестицій і ставку прибутковості. Аналіз отриманих результатів економіко-математичного моделювання на основі статичних даних щодо діяльності промислового підприємства ПАТ «Запоріжсталь» підтвердив дієвість запропонованого підходу, що дозволило скоригувати вартість портфеля в бік його зменшення. Доведено, що прибутковість портфеля не може бути більшою від прибутковості самого дохідного цінного папера (акції), що входить у портфель; завжди варто обирати між збільшенням прибутковості і зменшенням ризику. Ключові слова: ризик, інвестиції, портфель, модель, підприємство, прибутковість. Формул: 25; рис.: 1; табл.: 2; бібл.: 17.

Инструментарий для моделирования динамики капитала финансовых организаций

The issues of ensuring the financial stability of financial institutions, which is understood as the sufficiency of assets to meet obligations, are of paramount importance both for clients and the management of a financial institution, and for the country's economy as a whole. Most often, the inability to fulfill obligations is associated with a lack of funds, therefore it is important to monitor the dynamics of the monetary capital of organizations, to assess their financial risks, including in the conditions of investment. Purpose of the study: development of tools for assessing the risks of financial organizations. Statement of the problem: to develop a simulation model that allows one to study the dynamics of the capital of an organization, whose financial resources are formed due to heterogeneous flows of inflow and outflow of funds and investment, including in risky assets, in an inflationary environment. The paper proposes a modeling algorithm that allows to collect a descriptive statistics on the distribution of financial resources, to estimate the dynamics of the money capital of financial organizations and investigate the "sufficiency" of the company's funds to meet financial obligations basing on data of cash flows for various types of contracts and returns (growth rates) of assets, presented in the form of statistical data and/or characteristics of time series models. The description of the software tool is given. A computational experiment was based on data of the inflow and outflow of funds of a non-state pension Fund under the program of non-state pension provision. Descriptive statistics are given for the distributions of the size of organization's funds constructed as a result of modeling. The probability of organization’s downfall in dynamics and the risk of entering the zone of financial insecurity are assessed. The proposed tools have scientific novelty in the field of designing simulation models and decision support systems for analyzing the activities of financial organizations and determining effective directions for their development.

Review on Emerging Waterborne Pathogens in Africa: The Case of Cryptosporidium

Water-related diseases, particularly waterborne diseases, remain significant sources of morbidity and mortality worldwide but especially in developing countries. Emerging waterborne pathogens represent a major health risk. Cryptosporidium is one such pathogen which is globally recognized as a major cause of diarrhea in children and adults. The objective of this paper is not only to review published studies on the impact of these emerging waterborne pathogens but also to identify the various risk factors that favor their transmission. A number of envisaged and needed actions to tackle the challenge of these pathogens in Africa have also been discussed. We have searched the web of ScienceDirect, PubMed, Scopus. ISI Web of Science, SpringerLink, and Google Scholar. The first database search yielded 3099 articles. As a result, 141 studies were submitted for abstract review. A total of 68 articles were selected for full text analysis. After evaluating a considerable number of articles on this topic, the following results were obtained. A number of pathogens are likely to present public health risks, including Cryptosporidium. The contaminating potential of these pathogens is associated with a multitude of factors, such as the effects of climate change, social and behavioral aspects of local populations, water issues, geographical locations that may cause isolation, and inequalities due to lack of transparency of governments in the distribution of financial resources. We stress the need to maintain and strengthen real-time surveillance and rapid epidemiological responses to outbreaks and the emergence of new waterborne pathogens in all countries. African governments, for their part, should be aware of future risks of waterborne protozoan diseases. They must provide immediate and effective responses by establishing technical and financial mechanisms to ensure sufficient quantities of safe drinking water, sewage disposal, and hygiene for all.

Institutional Principles of Building the Fiscal Mechanism for Regulating the Investment Development of the National Economy

The state, influencing the processes of organization of fiscal relations by forming institutions, directs the established fiscal relations, manages the channels and directions of fiscal flows, clarifies the proportions of financial resources distribution and thus regulates the investment development of the economy. Therefore, the aim of the study is to determine the institutional principles for building a fiscal mechanism, from which depends not only its effective functioning, but also the impact on investment processes in the national economy. In order to substantiate the institutional principles of building a fiscal mechanism for regulating the investment development of the national economy, general and special research methods were used (analysis and synthesis, induction and deduction, abstraction, analogy, theoretical generalization, etc.). The historical development of institutional theory is considered in the course of the research. Approaches to the interpretation of the meaning of “institution” concept are defined, their functions and characteristics are outlined. The essence and components of the institutional structure of the fiscal mechanism for regulating the investment development of the national economy are substantiated. As a result of the research it is proved that the institutional structure of the fiscal mechanism is four-level and includes the cognitive level, regulatory level, organizational level, resource-technological level. It is determined that at the present stage of development of Ukraine the institutional structure of the fiscal mechanism is formed, but its characteristics do not sufficiently correspond to the features, resources and tasks of regulating the investment development of the national economy.