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The paper aims to investigate the causal nexus of the parameters of financial and economic security and the development of priority sectors of the national economy (on the example of agriculture, industry, construction, and transport in Ukraine) in the years 2010-2021. The results of the causal analysis showed the greatest degree of variability in the development of Ukrainian industry from the production, economic, credit and debt components of its financial security; agriculture, forestry, and fisheries - the security of money circulation and the credit component of financial security; construction, transport, warehousing, postal and courier - all components of financial security, except investment. The practical significance of the research results lies in the development of tools for modelling the impact of policy measures of strengthening financial and economic security on the development of priority sectors of the national economy, which allows for predicting the consequences of the implementation of the state security policy in the field of structural and institutional changes. [ABSTRACT FROM AUTHOR]

Business dynamics have undergone a remarkable transformation in recent years, primarily driven by the digital revolution. Micro, Small, and Medium Enterprises (MSMEs) are recognized as the cornerstone of economic growth and development, and their adaptability to this digital era is paramount. This empirical investigation explores the complex relationship between entrepreneurs' awareness, perceptions, and intentions and their influence on the adoption of digitalization, with a focus on the digital initiatives of the Small Industries Development Bank of India (SIDBI), which aims to transform MSMEs digitally. Various constructs, such as entrepreneurs' awareness, perceptions, and intentions, are used to evaluate digital adoption in small businesses. By examining entrepreneurs' levels of awareness, perceptions, and intentions, we aim to uncover the fundamental factors that shape their strategic choices regarding digital adoption. This study employs structural equation Modeling (SEM) through AMOS and adopts an explanatory survey method. It involved engaging Indian MSMEs with a total of 300 participants. Of these, 220 successfully submitted fully filled-out questionnaires through Google Forms. It is noteworthy that the examination of the research model revealed promising results by meeting the thresholds of CFI, RMSEA, and other similar measures. Findings reveal that entrepreneurs' awareness and intention positively influence digital adoption in MSMEs, whereas entrepreneurs' perception has no significant influence on digital adoption in MSMEs. This study has significant practical implications for policy formulation, entrepreneurial decision-making, collaborative efforts, risk mitigation, and future research directions in the context of digitalization within the MSME sector. [ABSTRACT FROM AUTHOR]

The purpose of the article is to analyze the state of innovative development of the economy of Ukraine and the countries of Central and Eastern Europe and to identify the problems of its provision in the conditions of martial law. The results of the study prove that factors of a military nature have an ambiguous effect on stimulating the innovative development of the country's economy. It has been established that economic evolution through innovation is a prerequisite for strengthening its competitiveness in countering modern challenges and threats. The results of the empirical study made it possible to find out that during the large-scale aggression of Russia on the territory of Ukraine in 2022, a decrease in the level of innovative economic development was also observed in the countries of Central and Eastern Europe. It was established that in 2023, the countries of the analyzed group managed to increase the indicators of innovative activity of business entities and the parameters of the innovative development of the economy. Important problems in ensuring economic progress through innovative activity have been identified: (1) shortcomings of the legislation regulating the innovation sphere; (2) lack of formation of a unified innovation infrastructure; (3) significant tax burden; (4) lack of an effective system of taxation and provision of tax benefits and preferences; (5) lack of effective investment mechanisms in the field of innovation; (6) low level of technological capacity of production facilities; (7) imperfection of the education system; (8) low level of financing of research activities; (9) focus on the export of raw materials and dependence on high-tech imports. In order to ensure sustainable innovative development of the country's economy, it is necessary to create appropriate conditions for the development of innovative potential, activate the creation of cross-border innovation clusters, and strengthen the country's investment attractiveness. [ABSTRACT FROM AUTHOR]

The process of digitizing businesses involves ongoing investments and additional costs, leading to the inevitable inquiry into the economic impact of digital transformation. Specifically, it's important to evaluate how this process contributes to the economic growth of nations. The article introduces a method for creating a ranking of European countries according to the economic benefits derived from digitalizing businesses of different scales. To achieve this, DEA models were developed to measure the effectiveness of digital adoption by small and medium-sized enterprises and larger corporations. For input variables, we selected metrics that reflect the extent of business digitalization, specifically, the proportion of SMEs (small and medium-sized enterprises) with a high digital intensity index (DII), the percentage of SMEs utilizing cloud technologies, and the contribution of SME turnover to the overall e-commerce turnover. The output variables chosen were metrics indicative of a country's economic health: GDP per capita, the ratio of exports to GDP, and the international investment position. The evidence demonstrates that due to significant differences in size, economic advancement, and digitalization levels among EU countries, the VRS model more adeptly accommodates these disparities. This approach permits the evaluation of each country's performance based on its unique situation and potential for development, without consideration of its economic magnitude. In 2022, Denmark, the Netherlands, Sweden, Finland, Malta, and Belgium emerged as the frontrunners in digital intensity among SMEs, with nearly 40% of businesses exhibiting a high degree of digital engagement. Among these leaders, only Malta and the Netherlands achieved the highest efficiency in leveraging digitalization for economic growth, as determined by the VRS model that considers variable returns to scale. It was shown, that the economic effect of digital transformation on large enterprises in EU countries is more substantial than on small and medium-sized enterprises [ABSTRACT FROM AUTHOR]

The purpose of this paper is to examine the effectiveness of monetary and fiscal policy instruments, to determine the level of influence of monetary and fiscal factors on economic growth, as well as to justify ways for improving the effectiveness of monetary and fiscal policy coordination. Insufficient coordination of monetary and fiscal policies entails devastating economic consequences. The critical analysis of scientific publications proved that today the coordination of monetary and fiscal policies depends on the degree of balanced regulation of interest rates and inflation control. The research uses a NARDL model to capture mainstream trends in the influence of monetary and fiscal factors, as well as in the empirical study of their coordination. According to the estimations it was established that the weighted average rate of NBU instruments is absorbed to a greater extent in the monetary component of coordination, the system of managing the internal public debt – in the fiscal component. The participation of monetary authorities in the management of the national internal debt remains a debatable issue today. It is proved that the process of coordination of monetary and fiscal policies is influenced by the state of Ukraine’s economy during the war. Despite the difficult political and economic situation in Ukraine, it is necessary to focus on improving the coordination of monetary and fiscal policies. In particular, the significant contribution of the NBU in financing the state budget deficit due to their purchase of government bonds needs to be resolved. Strengthening the role of macroprudential policy in the coordination of monetary and fiscal policies, one of the goals of which is to counter the emergence of a systemic crisis; formation of a clearly developed coordination strategy, which would be based on clearly defined goals, set tasks on the basis of selected methods and instruments for their achievement. [ABSTRACT FROM AUTHOR]

In the paper, we explore the effects of monetary policy shock on the economic growth in systemically important countries such as the US, the Euro Area and China and their impact on Ukraine. Thus, the war in Ukraine and the rise of key policy rates by central banks to curb inflation have had a significant negative impact on economic activity. There has been both a significant decrease in trade activity and a slowdown in the services sector growth, which was the main engine of global economic growth at the beginning of 2023. Based on the vector autoregression model results, we demonstrated a slight initial decline of GDP growth with following stabilization in response to the rise of key policy rates in the US. In China, this decline is much bigger and constitutes 11% after the shock. In the Euro Area, we also observe a similar pattern as in the US with an initial decline up to 2% and a further return to equilibrium. Analyzing the results of the forecast error variance decomposition, we should note that GDP fluctuations in systemically significant economies are mainly explained by their own fluctuations. The key policy rate’s contribution ranges from 1% in the US to 11% in China. At the same time, economic growth in China is less vulnerable to inflation fluctuations, in the Eurozone we observe the most sustained one among the considered economies. In addition, the study shows that the key policy rate in the United States has a positive effect on the one in Ukraine. [ABSTRACT FROM AUTHOR]

Information technologies play a crucial role in the modern economic system, acting as a driver for the development of the state. Information technologies are not only one of the most important factors stimulating economic growth but also contribute to the development of society, employment stimulation, and competition enhancement. The information technology market generates a significant portion of the GDP and export revenues. The analysis of the formation and development of the domestic information technology market is a key factor in understanding its importance in shaping the prospects of Ukraine as a digital state. The study analyses the dynamics of the development of the national information technology market, providing a comparative analysis of indicators between the Ukrainian market and several other countries. The article aims to analyse the macroeconomic impact of the information technology market on the development of the national economy, investigating correlation relationships between the rates of economic growth and various indicators both in Ukraine and in EU countries. The article explores the directions of the influence of the national information technology market on the dynamics of economic growth. Based on the conducted analysis, conclusions are drawn about the existence of a direct correlation between the growth of information technology export and GDP growth both in Ukraine and in European Union countries. The correlation between the increase in GDP and the growth of other important indicators in the information technology market, including the number of specialists and investments in scientific research, is analysed. Statistical methods reveal a relatively strong connection between the growth rates of investments in scientific research in the field of information technology and the GDP growth rate. At the same time, the correlation between the growth of the workforce in the information technology market and GDP is somewhat weaker. [ABSTRACT FROM AUTHOR]

Theoretically, fiscal decentralization is associated with growing up in the public administration's efficiency and fostering economic growth. But the mentioned things depend on numerous factors and strongly differ from country to country. This article aims to assess the efficiency of public services, provided by local governments, determine the role of fiscal decentralization in this process, and evaluate the fiscal decentralization impact on economic growth. We found that the highest level of public service quality was demonstrated in Estonia and Slovenia among the 15 counties of Central and Eastern Europe. There was no evidence that fiscal decentralization had strong interconnections with the efficiency of public services. The results showed that revenue decentralization harms the GDP per capita growth and expenditure decentralization has only a tiny positive impact on economic growth in Central and Eastern Europe over the 2010-2022 period. The authors concluded that the efficiency of the local budget's expenditures should be increased, cause the enhancement of the public expenditures-to-GDP ratio would have adverse effects without institutional improvement. [ABSTRACT FROM AUTHOR]

The empirical research on the various effects of international trade in periods of a steady world economy, crisis phenomena and post-crisis recovery enables the formation of generalized principles of foreign trade policy aimed at economic growth. The purpose of the paper consists in the determination of the impact of foreign trade factors on economic growth in each of the periods of the economic state and the substantiation of the hypothesis regarding the expediency of adapting foreign trade to the economic situation in the country. The authors of the paper use the tool of fuzzy neural networks for spatial data for 82 countries of the world at time intervals of stability, crisis and postcrisis recovery. This made it possible to find a rational approach to the formation of foreign trade guidelines under different macroeconomic conditions. The results of the research revealed that during periods of a steady economy, the maximization of realistically achievable rates of economic growth (about 10-20%) occurs at average and relatively equal levels of export and import (from 30% to 60%). At the same time, a potential surge in the rate of economic growth may be achieved due to a reduction in the level of exports while maintaining the average level of imports. During crisis phenomena, countries that have limited imports and maintained the average level of export of their products are the most stable, and the potential opportunities for increasing the rate of economic growth are seen in the increase of imports to the pre-crisis level. During post-crisis recovery, the greatest potential rates of economic growth are achieved with the maximum possible increase in exports and a reduction in the level of imports. It is determined that the export of high-tech products is an influential factor in economic growth. However, its level should be rationally adapted to the macroeconomic conditions and the structure of international trade, based on the theory of mercantilism. [ABSTRACT FROM AUTHOR]

Modern innovation processes taking place around the economic system of Ukraine in the current conditions of ecological require scientific and technological development. It is impossible without the implementation of significant and effective investment projects and ensuring adequate funding. The development of the national economy requires the implementation of large-scale and effective eco-projects and the concentration of financial resources. Such a process, especially eco-project implementation has a significant impact on accelerating the modernization of the economy, increasing its competitiveness and investment attractiveness for the successful ecological post-war recovery and future sustainable economic and investment development in Ukraine. In the article, the main theoretical and methodological principles of green project financing as a driver for the economic development of Ukraine in the condition of uncertainty are presented. In the scope of researched issue bibliometrics analysis of the essence of the terms "green finance" and "project financing" was held. The current situation of innovation projects financing the role and place of investment projects in the conditions of instability was investigated. With the help of the economical-mathematical analysis, the level of financial support of innovation activity and the correlation between the sources of project financing was analyzed. Additionally, the recommendations for eco-project financing implementation in Ukraine in the situation of instability were proposed. [ABSTRACT FROM AUTHOR]

The last decade has seen the rapid development of digital information technology, the intellectualization of control systems, the increase in the number and capacity of mobile and computer devices, and the accumulation of large amounts of data and its processing through machine learning algorithms, which inevitably leads to new opportunities for economic development. Rapid digitalization and its penetration into various spheres of public life contributed to increasing the level of transparency of public administration, strengthening public control, and reducing the bureaucratization of society. Hence, digital technologies can serve as tools to fight corruption and create conditions for intensive economic growth. Therefore, the topic based on the study of transmission effects in the chain "corruption-digitization-economic growth" is relevant. The work aims to develop methodological tools for assessing the transmission effects between digitalization, corruption level decrease, and economic growth. The following methods were used for the study: Levin-Lin-Chu, Hadri, Pesaran, and Chin tests, Dickey-Fuller tests - to check stationary variables; statistical criterion Kao - to check the existence of cointegration relationship between variables; modified least-squares method - to estimate regression coefficients based on panel data; coefficient of determination and Jarque-Bera test – to verify the adequacy of the econometric model. An empirical study confirmed the hypothesis of the presence of transmission effects between indicators that characterize the level of corruption in the economy, digitalization, and economic growth. It has been proven that the reduction of corruption and the growth of digitalization in studied countries contributes to economic growth. [ABSTRACT FROM AUTHOR]

Given the openness of most national economies, ensuring sustainable economic growth, trends of linearization, transnationalization, there has been a significant increase in foreign direct investment. Foreign direct investments (FDI) is a key component of economic growth and development, as the essence of economic growth is the rapid and efficient transfer of “best practices”. In addition to direct capital investing, FDI can be a source of the valuable transfer of technology and exchange, know-how, and foster international connections of companies that have an impact on economy. In addition, it should be noted that FDI have potentially desirable features that affect the quality of growth with significant social consequences. This can decrease negative shocks caused by financial instability. FDI generate income directed to support other economies. The volumes of foreign direct investments are growing under the influence of globalization, the intensification of existing ties creating problems and threats to secure the national economic development, and in today’s sustainable and inclusive (integral) growth. The evolution of the world economy has strongly influenced the dynamics of foreign direct investments and foreign capital flows, as well as economies of host countries. Current trends of the impact of foreign direct investments on economic growth have not bypassed economy of Ukraine, which is in a transitional stage of its development and is a host country. Therefore, the importance of attracting safe foreign direct investments is extremely ripe for the national economy and its economic growth at the current stage. [ABSTRACT FROM AUTHOR]

The article analyzes the uneven economic growth in the regions of Ukraine and proposes the development of regional policy based on the use of the smart specialization idea. As a tool for analysing the uneven economic development of regions, we used a method based on the comparison of regions by gross regional product per capita, which formed the basis for determining the funnel of backwardness of the region among others in terms of economic growth. The analysis was conducted for 2010 and 2020. The calculations made it possible to identify areas that differ significantly in development potential. It is proposed to use the ideas of the smart specialization concept as a new model of the Ukraine’s regions economic development in order to equalize interregional disparities. Revealed the essence of this concept implementation on the example of the Carpathian region economy in 2020 is revealed. It is determined that the formation of educational, tourist and construction clusters in the region are the foundations that will form a long-term strategy for its development. The main measures for the introduction of construction and educational clusters are proposed. The components that determine the innovative development of Ukraine on the basis of the Global Indices of Competitiveness and Innovation are analysed. Proposed the formation of economic policy, which is aimed at solving strategic tasks of the regions socio-economic development – ensuring economic growth and quality of life in Ukraine. It is justified that the application of the smart specialization approach in long-term regional strategies will contribute to a synergistic effect for both human and innovative development, which is the goal of the new regional economic policy. To solve the tasks used general and special research methods, namely: theoretical generalization to clarify the essence of smart specialization), statistical, comparative, comparative and strategic analysis (to calculate and build the dynamics of GRP per capita by region of Ukraine), graphical (for a visual representation of the results of the analysis). In addition, the visualization method was used to build the algorithm for forming the regional policy of Ukraine. [ABSTRACT FROM AUTHOR]

The article evaluates the funding structure and partnership models in ensuring human resource productivity. The government’s main task is to implement the economic policy that would stimulate the growth of the country’s economy, which is achieved through the active participation of human resources in social production and can be identified by their productivity. Increasing labor productivity requires both fundings for human resources development programs, namely education and health care, and the formation of models of partnerships between the subjects of its provision (government, business, and households). Revitalization of human resources involves meeting the essential human needs, which are defined in the concept of human development, the highest priority of which is education and health. Each country forms its own partnership model of subjects for financing to ensure economic growth and productivity of human resources. The object of the study is the model of partnership in providing the growth of productivity of human resources in the economies of countries that have excellent tools for financing human development programs, namely the United States, Great Britain, Germany, Sweden, and Ukraine. In this study, we used correlation regression analysis to evaluate the models of a partnership between households, government, and businesses in financing education and health to ensure increasing productivity of human resources. We proved the crucial role of public funding of health care systems in ensuring the growth of human productivity in Germany, the United States, Britain, and Ukraine, and in Sweden — socially responsible business. With regard to education, the priority in the partnership model in the United States belongs to the business, in Germany to the state, and in other countries, the participation of all partners is equal. Ukraine has relatively low productivity of human resources. Therefore, it is essential to implement measures to improve it and transform the existing funding structure for human development programs and partnership models to ensure its growth. [ABSTRACT FROM AUTHOR]

The article discloses development peculiarities of the global Islamic financial industry and determines its interplay with the economic growth of Muslim countries. The aim of the article is to reveal current trends in key segments of the global Islamic finance market (Islamic banking, capital market and Iinsurance) and analyze the impact of each of them on the economic growth of the countries, which are most developed in the field of Islamic finance. The countries surveyed were selected according to the Islamic Finance Development Indicator (IFDI), which reflects the general state of the Islamic financial industry worldwide and in each country. IFDI is based on five indicators: quantitative development (QD), knowledge, governance, corporate social responsibility (CSR) and awareness. In 2019, the United Arab Emirates (UAE), Bahrain, Indonesia, Malaysia and Saudi Arabia were the most developed countries in terms of Islamic finance. Examining the impact of different types of Islamic financial assets on the GDP of these Muslim countries, we used Eviews10 to conduct a regression analysis, which showed a positive relationship between GDP and only two types of assets, namely bank and Islamic bonds (sukuk). associated with significant volumes of these segments of the global Islamic financial market and the tradition of investing in key sectors of the economy. We discovered the negative relationship between GDP and Islamic insurance (Takaful) in all countries studied, which can be explained by ineffective investment strategies of Islamic insurance companies, which suffer from low profitability and are unable to increase their assets in line with current trends in innovation and development. We also found the inverse relationship between Islamic funds and GDPs of the UAE, Malaysia and Saudi Arabia, which may be related to the distribution of financial resources from these countries to other parts of the world and investment cycles, including the waiting period before repatriation of profits and interest; the concentration of funds in major markets makes it impossible to scale their activities in the global market. [ABSTRACT FROM AUTHOR]

In terms of globalization of the world economy, the open economy of a country participating in the globalization process becomes an organic element of the world economy and thus receives additional incentives for development. International flows of goods and capital allow countries to get new sources for economic growth. Economic growth is now not only a function of internal but also of external factors. It is they who now determine the modernization tendencies of national economic policies, forcing them to move in accordance with world trends. The purpose of the research is to assess the relationship between economic growth of the country and external factors of its economic development, as well as to identify the dependency between external factors in order to clarify their role in the modernization of national economy. With this aim, the analysis of the main parameters of openness of Ukraine’s economy is carried out, as of external factors that influence on the national economic development, changes in the traditional production function under the influence of introduction in it of external factors of development, the estimated indicators of the named influences are modeled. The novelty of the research is the identification of dependency between the forms of openness of the economy and economic growth, the development of a model of relationship between the forms of openness of the economy. Research method. The study is based on a set of economic and economic-mathematical methods that are needed to identify the influence of external factors on the national economy, especially methods of abstraction, systematic and structural-comparative analysis, synthesis and modeling of economic processes. Among the models used in the research is a multifactor regression model. The empirical basis was the materials of official statistics of Ukraine for 1999—2019. The results of research showed: the role of globalization of Ukraine’s economy in its economic development, the importance of FDI as an external factor of economic development, the strong link between international capital flows and international flows of goods into the Ukrainian economy, the positive impact of the latter on the former. [ABSTRACT FROM AUTHOR]

The article substantiates the need to improve the performance of banks as one of the prerequisites for the economic development of business entities. To assess the performance of banks, the methodological approaches to such an assessment are generalized and their advantages and disadvantages are analyzed. The ease of use and interpretation of the results obtained has been proved when using the coefficient approach as a tool for assessing the performance of Ukrainian banks. However, in order to mitigate the main drawback of the coefficient methodological approach, which is expressed in the impossibility of obtaining an unambiguous assessment of the banking performance, it is proposed to apply a methodological approach that provides for the determination of an integral indicator of the banking performance using taxonomy methods. The use of the method of taxonomic analysis made it possible to generalize eleven relative coefficients that comprehensively characterize the banking performance: the overall efficiency of the bank, the efficiency of resource use, the structure of revenues and expenses and the efficiency of personnel use, as well as obtain an integral indicator of development. The proposed methodology for assessing the level of banking performance was tested on the example of state banks of Ukraine with their subsequent ranking. In particular, the authors found that JSC «Oschadbank» was the leader in terms of performance in 2017. However, during 2018—2019, the leadership passed to JSC CB «PrivatBank». The need to improve the performance of JSC «Ukreximbank» and JSB «Ukrgasbank» was proved, since JSC «Ukreximbank» was characterized by a decrease in business performance, and the lowest level of performance was found in JSB «Ukrgasbank». We believe that research on the main reasons for the decline in the banking performance and the impact of such trends on economic growth, including the development of entrepreneurship, is promising and practically significant. [ABSTRACT FROM AUTHOR]

Присвячено дослідженню теоретнчних і практичних аспектів управління детермінантамн конкурентної девальвації, зокрема їі сутності, інструментів їі реалізації, а також позитивним і негатнвним наслідкам їі влливу на економіку країнн, яка ії реалізуе, і торговельних партнерів ціеї країнн. Визначено, що конкурентна девальвація е навмисною девальваціею валюти, ініційованою (і офіційно, і неофіційно) ценlральним банком з метою зниження вартості екепортних товарів для іноземних покупців, таким чином сприяючи розвиткові внутрішнього виробннцтва, розв'язанню проблеми безробітгя і зниженню дефіциry платіжноro балансу. Визначено, що найбільш відчугно вплив конкурентної девальвації проявляегься в таких секторах економікн країнн: зовнішиьоторговепьннй, промисловий, аграрний, фінансовнй і секгор послуг. У результаті дослідження встановлено, що сryпінь ефективності конкурентної девальвації для стимулювання економічноro зростання країнн детермінуеться такимн факторами: струкгура зовнішньої торгівлі, частка імпортованої сировинн і комплекryючих у вартості roтової продукції, зовнішньоторговельні бар'ери, темпн економічного зростання в іншнх країнах, епастичність nonxry на експортну продукцію, поширеність фіксованих контрактів ua сировину та інструментів хеджування ризиків, ефект J-кривої. Виокремлено познтивніі негатнвні наслідкн конкурентної девальвації для країнн,яка їі реалізуе, та й торroвельних партнерів. Очікуваннмн позитнвними результатами для країнн, що девальвуе свою валюry, е зростання обсягів ekcnopry і підвищення внутрішнього nonuiy, що повинно спрняти вищому рівню зайнятості та економічному зростанню. Серед негатнвних наслідків конкурентної девальвації такі: зниження купівельної спроможності населення, здорожчання імпорту і зменшення йоro обсягів, зростання рівня інфляції; зростання вартості обслуroвування боргів, номінованих в іноземній валюті; зниження обсягів іноземних інвестицій; стримування науково-технічного розвитку та відплив високо- кваліфікованої робочої силн за кордон. [ABSTRACT FROM AUTHOR]

The article describes the essence of budget policy. Determined its role in ensuring macroeconomic stability and accelerating economic growth. The quantitative and qualitative impact of the budget regulation system on the economic environment has been characterized. It is substantiated that purposeful budget regulation allows accelerating or slowing social and economic processes, ensuring achievement of certain strategic goals and objectives. An estimation of the impact of budget policy on economic growth, in particular, on the justification of the interrelation of the share in the GDP of income, including direct and indirect taxes; expenses, including social protection and social security, economic activity; direct state and guaranteed debt with real GDP in Ukraine. For 2009—2019, the share of gross income and expenditure, deficit and debt in the countries of the European Union in the GDP was determined; income, expenses, deficit of the consolidated budget, direct state and guaranteed debt in Ukraine. The substantiation of the provision on the development of institutional foundations for fiscal policy-making based on the necessity of adapting the set of mechanisms of functioning of the budget regulation system to the conditions of development of the financial and economic environment and the cyclical nature of economic processes; the position regarding the formation of budget policy based on a forecast assessment of budgetary parameters, based on the projected macroeconomic indicators of socio-economic development of the country, tools and levers of tax policy. The priority directions of budget policy in the conditions of economic transformations are determined, in particular, to strengthen the investment and innovation budget component, to improve the structure of tax revenues, to maintain a safe level of public debt and budget deficit, to improve the quality of public debt management and to determine strategic guidelines for the structure of the debt portfolio. [ABSTRACT FROM AUTHOR]

Copyright of Financial & Credit Activity: Problems of Theory & Practice is the property of University of Banking of the National Bank of Ukraine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Financial & Credit Activity: Problems of Theory & Practice is the property of University of Banking of the National Bank of Ukraine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Financial & Credit Activity: Problems of Theory & Practice is the property of University of Banking of the National Bank of Ukraine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Financial & Credit Activity: Problems of Theory & Practice is the property of University of Banking of the National Bank of Ukraine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Financial & Credit Activity: Problems of Theory & Practice is the property of University of Banking of the National Bank of Ukraine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Financial & Credit Activity: Problems of Theory & Practice is the property of University of Banking of the National Bank of Ukraine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Financial & Credit Activity: Problems of Theory & Practice is the property of University of Banking of the National Bank of Ukraine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Financial & Credit Activity: Problems of Theory & Practice is the property of University of Banking of the National Bank of Ukraine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Financial & Credit Activity: Problems of Theory & Practice is the property of University of Banking of the National Bank of Ukraine and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)