ESSENTIAL-CONCEPTUAL FUNDAMENTALS OF FISCAL REGULATION OF THE STATE ECONOMY

Abstract

Abstract. The article states that fiscal regulation is the central link of the entire system of economic regulation, a holistic set of fiscal regulators of incentive, restrictive and punitive direction. According to the results of the study, it was found that the main functions of fiscal regulation of the state economy are: the impact on the state of economic conditions; redistribution of national income; accumulation of necessary resources for financing social programs. It is proved that the system of fiscal regulation includes a set of tax and non-tax payments and fees, which is redistributed in favor of budgets of different levels.
It is determined that fiscal regulation is a way by which the state regulates the level of expenditures and revenues of the state budget and it is indicated that due to fiscal regulation the state budget is filled. Summarizing the results of the study, it is proved that in economic theory and in practice, two concepts have developed and are arguing with each other. From the point of view of economic theory, these are the institutional-Keynesian direction of evolutionary economic change (the so-called gradualist policy) and the liberal-monetary direction of radical change (the so-called policy of shock therapy).
The place of fiscal regulation in the system of state regulation of the economy, which includes methods and tools of state regulation of the economy, is indicated. Methods are divided into direct and indirect influence, where methods of direct influence provide for administrative and legal intervention in the regulatory process, and methods of indirect influence are economic, donor and advocacy measures. Economic methods, in turn, combine monetary regulation, currency, price and fiscal. A generalization of the provisions of the concepts of fiscal regulation, which includes two components, where the essence of the first is that fiscal regulation is due to the specifics of taxation, which acts as a lever for both tax and budget regulation; and the second component includes the purpose, objectives and content of fiscal regulation, which are determined by the regulatory function of taxes. The author presents the definition of fiscal regulation of the economy as a set of tools by which the state creates conditions for the mobilization of the required amount of financial resources and their rational use to ensure economic growth. It is argued that the state creates conditions under which it is advantageous for an economic entity to take into account the interests of the state in the process of its activities. It is argued that at the stage when the country is trying to get out of "credit bondage", it is advisable to focus on the approach of institutionalists to fiscal regulation of the economy, as it allows to synthesize existing tax concepts taking into account national characteristics, including mentality.
The conceptual model of effective fiscal regulation of the country’s economy has been improved, which includes the following elements: business entities and the state; information about economic realities and information for change, synthesized from the state of the external and internal environment. The main block of the model is: "fiscal" (treasury), revenues and expenditures, changes in which are formed by fiscal policy. The analytical component combines the current taxation system; the results of monitoring the activities of economic entities and the need for tax changes and future opportunities. Then the process of making a decision on the use of taxation in the system of state regulation, based on the strategy of implementing changes in taxation (official measures, implementation tactics, implementation tools). The state, in turn, based on the results of fiscal regulation measures, applies innovations in this area and carries out reorientation according to the environment.