№ 4/2019

№ 4/2019

Nauk. pr. NDFI 2019 (4): 59–68https://doi.org/10.33763/npndfi2019.04.059

PUBLIC FINANCES

KUSHNERUK Oleksandr ¹, STAKHOVA Kateryna ², TARASENKO Mariia ³

¹SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0002-0691-2268
²SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0002-3854-7963
³SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0001-9302-7664

Theoretical and methodological principles of fiscal risks in the context of modernization of the public finance management system

The current threats to the fiscal system in the discourse of the realities of the Ukrainian state under the conditions of institutional uncertainty and lack of institutional memory are considered. Methodologically, the article covers the issue of the impact of fiscal risks and their resilience against various shocks in the economy and public finances. The analysis of the current situation in the public finances is carried out; the basic theoretical and methodological concepts of fiscal risks in the historical context are given; the risks of further inertia of threats to the sustainability of fiscal policy are systematized. The retrospective of the paradigm of understanding financial and fiscal risks from the point of view of the general economic theory is analyzed and clustered. The basic approaches to the interpretation of the definition of fiscal risks in modern foreign and Ukrainian financial science are revealed. Fiscal risk assessment is evaluated, and the main tasks aimed at improving the quality of public finance management and the implementation of fiscal policy objectives are outlined. Risk indicators relating to the public finance sector are justified and systematized. The factors of influence on the security of the public finances of Ukraine, which are related to the trends in the world markets, the structure and dynamics of the national debt, the peculiarities of manifestation of internal risks, among which are the risks of lack of revenue of the state budget, are described. Macroeconomic risks, risks related to public debt and the activities of economic entities, risks of deviation of forecasted financial and economic performance of economic entities from the planned level, which reduce budget revenues and require additional budget expenditures, are investigated. The methodology of estimation of fiscal risks related to the activity of public sector economic entities is considered, which establishes the mechanism for determining the possible cost impact of fiscal risks from the activity of public sector economic entities on the state budget indicators and defines the main indicators used for the assessment of fiscal risks associated with the activities of economic entities and the analysis of their activities in order to identify objective and subjective fiscal causes of fiscal risks.

Keywords:security, fiscal system, tax, economic and financial security, Doing Business

JEL: H12, H19

Kushneruk O. . Theoretical and methodological principles of fiscal risks in the context of modernization of the public finance management system / O. Kushneruk , K. Stakhova , M. Tarasenko // Наукові праці НДФІ. - 2019. - № 4. - C. 59-68.

Article original in Ukrainian (pp. 59 - 68)

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