THEORETICAL AND METHODOLOGICAL ASPECTS OF GOVERNMENT FISCAL POLICY
Journal Title: Вісник Київського національного університету імені Тараса Шевченка. Економіка. - Year 2017, Vol 1, Issue 190
Abstract
In the conditions of prolonged economic transformation in Ukraine a problem of formation and implementation effective fiscal policy has a special significance. Consequently, it is necessary to substantiate the theoretical basics of government fiscal policy and to identify the factors which influence on the efficiency of its implementation. A question of essence the fiscal policy is a pivotal research in many theories of public finance, therefore an evolution of different approaches to the definition of government fiscal policy is analyzed in the given article. To sum up the analysis of the most influential works of different scientific schools it can be concluded that fiscal policy is a component of the government financial activity on different stages of economic development, which contributes to achievement of goals as a sustainable economic growth; a reduction the impact of economic cyclicality on the welfare; an encouragement of high level employment; a provision of moderate inflation and an alignment of regional economic development. The government applies the appropriate type of fiscal policy depending on a phase of the economic cycle. Fiscal policy is divided into two types as discretionary fiscal policy, which includes incentive or disincentive tools, and non-discretionary fiscal policy, which involves automatic stabilizers such as progressive scale of taxation of profits (income), unemployment benefits, public transfers.
Authors and Affiliations
Yulia Petlenko, Kateryna Mуlovanova
Keywords
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- EP ID EP171131
- DOI 10.17721/1728-2667.2017/190-1/4
- Views 95
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