Investigation of advantages of outsourcing of independent fiscal institutions in the countries of peripheral capitalism

Authors

DOI:

https://doi.org/10.15587/2312-8372.2017.113272

Keywords:

world-system analysis, independent fiscal institutions, outsourcing of financial institutions, fiscal policy

Abstract

The article shows that the periphery of Ukraine's development is determined by the imperfection of state institutions, including fiscal ones. It is established that the defects of fiscal institutions are related to the fact that the process of institutional transformation in Ukraine is under the excessive influence of the oligarchic and political elite and reflects primarily its interests. This creates a deficit of effective institutions serving the entire society, and not just its privileged part.

In order to find ways to overcome this situation, the work summarized the world theory and practical experience of introducing fiscal institutions in developed countries and assessed the possibilities of their adaptation to the conditions of Ukraine.

As a result of the research, it is found that outsourcing has advantages over other methods of implementing independent fiscal institutions in the economy of a peripheral country. It can become one of the tools to strengthen the economic soundness and transparency of fiscal policy, its reorientation to the interests of society.

This is important for overcoming the periphery and direction of the vector of economic development of Ukraine towards the center. The introduction of independent financial institutions can contribute to the development of Ukraine in the dialogue field of European integration, strengthening of Ukraine's competitiveness and economic security of the European economy.

Author Biography

Liudmyla Hatska, Taras Shevchenko National University of Kyiv, 60, Volodymyrska str., Kyiv, Ukraine, 01033

PhD, Associate Professor

Department of Environmental Management and Enterpreneurship

References

  2. Kopits, G. (2011). Independent Fiscal Institutions: Developing Good Practices. OECD Journal on Budgeting, 11 (3), 1–18. doi:10.1787/budget-11-5kg3pdgcpn42
  3. Kalytchuk, V. M. (2010). Kontseptualni napriamy minimizatsii ryzykiv derzhavnoho borhu. Naukovi pratsi NDFI, 2, 94–103.
  4. Calmfors, L. (2011). The role of independent fiscal policy institutions. Stockholm: Stockholm University, 38. Available at: http://su.diva-portal.org/smash/get/diva2:388833/FULLTEXT02
  5. Calmfors, L. (2010). Fiscal policy coordination in Europe. Stockholm: IIES, 19. Available at: http://su.diva-portal.org/smash/get/diva2:354734/FULLTEXT03.pdf
  6. Knut, K. (2013). Opros o protsedurah biudzhetirovaniia OESR v 2012 g. Riga, 41. Available at: https://www.pempal.org/sites/pempal/files/event/attachments/budget-survey-preliminary-results-riga-26-june-2013_rus_mg.pdf
  7. Wren-Lewis, S. (2012, June). Fiscal Councils. Available at: https://sites.google.com/site/sjqwrenlewis/fiscal-councils
  8. Naert, F. (2010). Credibility of fiscal policies and independent fiscal bodies. Presented at the International Association of Schools and Institutions of Administration. Bali, 18. Available at: https://biblio.ugent.be/publication/1086232/file/1086234.pdf
  9. Polterovich, V. M. (2001). Transplantatsiia ekonomicheskih institutov. Ekonomicheskaia nauka sovremennoi Rossii, 3, 24–50.
  10. Polishchuk, L. (2013). Institutional Outsourcing. Voprosy Ekonomiki, 9, 40–65.
  11. World Bank. (2016). Doing Business 2017: Equal Opportunity for All. Washington, DC: World Bank, 356. Available at: http://www.doingbusiness.org/~/media/WBG/DoingBusiness/Documents/Annual-Reports/English/DB17-Report.pd. doi:10.1596/978-1-4648-0948-4
  12. Kaufmann, D., Kraay, A., Mastruzzi, M. (2010). The Worldwide Governance Indicators: Methodology and Analytical Issues. Washington, DC: World Bank, 29. Available at: https://www.brookings.edu/wp-content/uploads/2016/06/09_wgi_kaufmann.pdf. doi:10.1596/1813-9450-5430
  13. Independent Fiscal Institutions in the EU Member States: The Early Years. (2017, July 25). European Commission. Available at: http://ec.europa.eu/economy_finance/db_indicators/fiscal_governance/independent_institutions/index_en.htm
  14. Country Data Report for Ukraine, 1996–2013. (2015). Worldwide Governance Indicators. World Bank. Available at: http://info.worldbank.org/governance/wgi/index.aspx#countryReports
  15. About the EBA. European Business Association: the premier organisation for foreign business in Ukraine. European Business Association. Available at: http://www.eba.com.ua/en/about-eba
  16. Yavlinskii, G. A. (2003). Periferiinyi kapitalizm. Moscow: Yabloko, 65.

Downloads

Published

2017-09-21

How to Cite

Hatska, L. (2017). Investigation of advantages of outsourcing of independent fiscal institutions in the countries of peripheral capitalism. Technology Audit and Production Reserves, 5(5(37), 44–49. https://doi.org/10.15587/2312-8372.2017.113272

Issue

Vol. 5 No. 5(37) (2017): Macroeconomics

Section

Problems of Macroeconomics and Socio-Economic Development: Original Research

License

Copyright (c) 2017 Liudmyla Hatska

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

The consolidation and conditions for the transfer of copyright (identification of authorship) is carried out in the License Agreement. In particular, the authors reserve the right to the authorship of their manuscript and transfer the first publication of this work to the journal under the terms of the Creative Commons CC BY license. At the same time, they have the right to conclude on their own additional agreements concerning the non-exclusive distribution of the work in the form in which it was published by this journal, but provided that the link to the first publication of the article in this journal is preserved.