Institutional Framework for the Development of a Financial Mechanism For Management of the Public Sector of Economy
Journal Title: Бізнес Інформ - Year 2016, Vol 1, Issue
Abstract
The article is concerned with disclosing the institutional framework for the development of a financial mechanism for management of the public sector of economy. Both the theoretical aspects of development of the indicated financial mechanism and its substance have been disclosed. It has been substantiated that transformation of the public sector of economy should be based on finding the most effective financial mechanism for its management. In the current terms, on the basis of transformation of the public sector, the following main results must be achieved: optimizing the management of public property; improving the efficiency of monitoring of both use and preservation of the State property; provision of additional revenue from the more efficient use of the public assets. When assessing the feasibility of taking concrete decisions on the management of the State property objects, first and foremost should be estimated the means to provide the following: optimizing the structure of public property; minimizing costs of the public budget for the management of public property; improving the quality of financial management and the efficiency of management of the public enterprises; enhancing responsibility of the new owners and their interest in the results of financial activity of economic entities of the public sector; creating a favorable economic environment for business development, as well as attracting investments to it.
Authors and Affiliations
Ivan Makogon
Keywords
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