FINANCIAL DECENTRALIZATION IN UKRAINE: CURRENT STATE AND DEVELOPMENT PROSPECTS
Journal Title: Інноваційна економіка - Year 2017, Vol 70, Issue 7
Abstract
Purpose. The aim of the article is the research of theoretical and pragmatic aspects of the development of financial decentralization in Ukraine and the development of proposals to improve this process in modern conditions. Methodology of research. General scientific methods are used in the process of work: analysis and synthesis – in the study of the main vectors of the policy of financial decentralization; the logical method – for theoretical generalizations and the formation of the findings of the study. Findings. The main indicators of implementation of local budgets are investigated, which confirms the effectiveness of measures aimed at decentralization of financial resources in Ukraine. It is established that financial decentralization fulfills the tasks set for the creation of a proper social and economic environment for a dignified life of the inhabitants of territorial communities. It was found that indicators of implementation of local budgets reflect the overall social and economic status of the respective territory and its potential for further development. The importance of providing local budgets with sufficient resources for the full implementation of their powers by territorial communities is determined: to provide better and more diverse services to its inhabitants; to implement important social and infrastructure projects; to create conditions for entrepreneurship development and attraction of investment capital, to develop local development programs and finance other measures for the diversification of living conditions for community members. Originality. The vectors of improvement of the current practice of budgetary regulation in the context of optimization of revenues to local budgets of personal income tax, real estate tax and land tax, as well as the introduction of a luxury tax and the restoration of excise duty on alcohol retail, tobacco and fuel and lubricants, were proposed on the basis of the analysis of the main indicators of the implementation of local budgets of Ukraine. Practical value. The obtained results of the study are aimed at shifting the emphasis from the paternalistic standpoint (expectations of subsidies from the higher level budgets) to attempts to form an effective management apparatus and to direct funds to community development, preventing the ineffective or inefficient use of them.
Authors and Affiliations
Tetiana Kizyma
Keywords
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