The institutional framework for financial regulation Cover Image

Теоретичні аспекти розвитку соціально-трудових відносин у ринкових умовах
The institutional framework for financial regulation

Author(s): Mykola Pasichniy
Subject(s): National Economy, Public Administration, Economic policy, Public Finances, Fiscal Politics / Budgeting
Published by: Державний вищий навчальний заклад «Переяслав-Хмельницький державний педагогічний університет імені Григорія Сковороди»
Keywords: system of the state financial regulation; financial policy; financial system; budgetary regulation; tax regulation; monetary regulation; financial and budgetary forecasting; institutional development;

Summary/Abstract: The research subject contains the set of problems in the area of institutional framework for system of financial regulation.The article purpose is to define the institutional framework for development of the system of financial regulation in orderto increase the level of its efficiency according to prior directions of economic growth.The research methodology. In this investigation we use the set of scientific methods, such as structural and inclusiveapproach, logical deduction, comparable and factor analysis.Results. The institutional framework for system of financial regulation has been investigated. In the paper the role ofgovernment regulation in the institutional system has been justified. Approaches to improve the regulatory mechanism offinancial policy have been defined. The article focuses on the problems of the efficient coordination between state financialinstitutions in question of providing fiscal and monetary policy. Also we investigated the determinants of economic growth inthe medium and long term plan. The priority directions to improve the system of financial regulation have been determined.Scope of results. State financial policy and instruments of policy implementation.Conclusion. Institutional environment has huge impact on the economic growth. In order to increase the efficiency ofpublic finance management government would provide institutional reforms. The state model of socio-economicdevelopment needs to contain innovative and social budget components, which would create opportunities to function thepublic finance system. Formation and implementation instruments and mechanisms of financial police could help to reachthe macroeconomic stabilization and create conditions for future economic growth. In order to achieve progress ineconomics we ought to change the structure of government spending, including budget sector and to raise the quality ofpublic institutions. Financial regulation has to improve the production factors and quality of human capital in order tostimulate the economy. In the article approaches to decrease the level of tax load on innovative and science products inpost-crisis period are justified. Also investigates the opportunities to allocate budget recourses to support high technologyeconomy pattern, including science, education, defense industry, medicine.

  • Issue Year: 1/2015
  • Issue No: 27
  • Page Range: 137-144
  • Page Count: 8
  • Language: Ukrainian