Theoretical and methodological principles of budget framework
Journal Title: Visnyk Ternopilskoho natsionalnoho ekonomichnoho universytetu - Year 2018, Vol 1, Issue
Abstract
Based on the scientific analysis of the theories and concepts developed by schools of financial thoughts, it is found that there is a high concern about a range of tools for government regulation, such as taxes, transfers, government expenditures, which are currently seen as elements of budget framework. The purpose of the study is to provide a scientific basis for the formation and functioning of budget framework as a system, its structure and properties; the subject of the research paper is to highlight theoretical and methodological principles for the formation and functioning of budget framework in relation to its impact on socio-economic development. The approaches to defining ‘budget framework’ introduced by domestic and foreign scholars are critically analyzed. Considering budget framework as part of state regulation of economy and taking into account its role in GDP distribution, budget framework is suggested to be viewed as a practical implementation of functions of the budget and a means of direct influence of state authorities and local self-government on socio-economic processes in order to ensure macroeconomic stability and improve social welfare. Through a systemic approach to the study of budget framework its components are identified. It is recommended to view them as a set of financial methods, forms, tools, and levers grouped in subsystems. As a result of their influence on distribution processes related to mobilization and utilization of budgetary funds, quantitative and qualitative changes take place in socio-economic processes and enhance socio-economic development and implementation of budget policy aimed at solving problems that arise. It is found that budget framework as a system is to be understood as a set of its components (subsystems – mechanisms for mobilization and utilization of budgetary funds; elements – financial methods, forms, tools, levers) and necessary links between them for achieving goals. The main features of budget framework seen as a system are distinguished and characterized: hierarchy, emergence, targeting, integrity, alternative ways of functioning and development, synergy, and functionality. It is substantiated that the formation and functioning of budget framework is impossible without legal, informational and organizational support.
Authors and Affiliations
Zoryana Lobodina
Keywords
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Theoretical and methodological principles of budget framework
Based on the scientific analysis of the theories and concepts developed by schools of financial thoughts, it is found that there is a high concern about a range of tools for government regulation, such as taxes, transfer...