Financial policy and its role in the state economic policy

Kotsіurubenko Ganna
Associate Professor, Department of Finance, Odessa National Economic University, Odessa, E-mail:annakots@ukr.net, ORCID ID: https://orcid.org/0000-0001-9604-5083

Cite this article:

Kotsіurubenko G. (2022) Financial policy and its role in the state economic policy. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Finansova polityka yak skladova ekonomichnoi polityky derzhavy; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 5-6 (294-295), pp. 21-27.

Abstract

The article examines the existing work of Ukrainian scholars on the components and tools of economic policy in order to highlight the place and role of financial policy in the economic policy of the state. It is emphasized that the development of the theory must meet the challenges posed by time and the practical reality in which certain economic laws and instruments work. It is determined that the financial policy of the state is a direct component of the effective functioning of the economic system. The processes of formation and implementation of financial policy are closely linked and integrated into the system of economic relations and the general system of regulation and management of the economy. Understanding the nature and interaction of economic influences increases the effectiveness of practical decisions, ensures the quality of developed measures and forms a potentially high level of future results. In the existing works of Ukrainian researchers on the place of financial policy in the economic policy of the state, and scholars who study and reveal the features of economic policy, pay attention to mechanisms, tools and methods of implementation, which include monetary (monetary), budget, tax (fiscal). The analysis of scientific developments shows that in the vast majority of cases, researchers of general economic policy are focused on the allocation of components and instruments of state influence on the economy without allocating financial policy to a separate component. Analysis of the work of economists and financiers forms the preconditions for conclusions on the statement of the existence of financial policy with the selection of its components, which partially duplicate the components of economic policy. The outlined aspects determine the importance of emphasizing the specific features of this area of economic policy in order to separate it from the rest, in particular, it is advisable to address the essence of financial phenomena and take into account the specifics of development and expansion of economic relations.

Keywords

financial policy, economi cpolicy, directions of realization, taxes, budget, social development.

JEL classification: Е600; DOI: 10.32680/2409-9260-2022-5-6-294-295-21-27

UD classification: 336.02

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