Automatic stabilizers in Ukrainian fiscal system

Authors

  • Дмитро Петрович Єфремов Kyiv National Economic University named after Vadym Hetman, Ukraine

DOI:

https://doi.org/10.15587/2312-8372.2013.19661

Keywords:

fiscal policy, automatic stabilizers, cyclically adjusted budget balance, economic dynamics

Abstract

The structure of the anti-crisis fiscal automatic stabilizers and the power of their influence on the dynamics of economic recovery in Ukraine are the subjects studied here. With the tool of comparative analysis between the tax systems of Ukraine and the EU the determinants that enhance their effect in the domestic economy are identified. They are high sensitivity settings of the state budget to the economic situation. The factors that weaken their action are the bias of the tax burden towards indirect taxes and high trade openness of the economy. Quantifying the magnitude of automatic stabilizers showed a low level of their contribution to smoothing cyclical fluctuations, that indicated the inefficiency of the national tax system and the need for activation of the discretionary component of the government's fiscal policy.

Author Biography

Дмитро Петрович Єфремов, Kyiv National Economic University named after Vadym Hetman

PhD, chair of macroeconomics and public management

References

  1. Giorno, C. Estimating Potential Output, Output Gaps and Structural Budget Balances [Text] / Giorno, C. et al. // OECD Economic Department Working Papers. – OECD Publishing, 1995. – No. 152. – 53 р.
  2. Van den Noord, P. The Size and Role of Automatic Fiscal Stabilizers in the 1990s and Beyond [Text]/ P. Van den Noord // OECD Economics Department Working Papers. – OECD Publishing, 2000. – No. 230. – 31 p.
  3. Blanchard, O. An Empirical Characterization of the Dynamic Effect of Changes in Government Spending and Taxeson Output [Text]/ O. Blanchard, R. Perotti // NBERWorkingPaper, 2002. – No. 7269. – 31 p.
  4. Соколовська, А. М. Податкова політика в Україні в контексті тенденцій реформування оподаткування у країнах ЄС [Текст]/ А. М. Соколовська, Т. В. Кощук // Фінанси України. – 2012. – № 1. – С. 94-121.
  5. Длугопольський, О. В. Публічні фінанси за умов фінансово-економічної кризи та трансформації світової економіки [Текст]/ О. В. Длугопольський // Фінанси України. – 2012. – № 8. – С. 106-117.
  6. Дмитренко, Г. Роль фіскальної політики в антициклічному регулюванні економіки [Текст]/ Г. Дмитренко // Вісник Національної академії державного управління при Президентові України. – 2009. – № 3. – С. 79-86.
  7. Monitoring tax revenues and tax reforms in EU Member States 2010. Tax policy after crisis [Text]/ European Comission. – 6 October 2010. – 85 p.
  8. Veld, J. Automatic Fiscal Stabilizers: What they are and what they do [Text]/ J. Veld, M. Larch, M. Vandeweyer // European Commission Directorate-General for Economic and Financial Affairs Publications. – Economic Papers, 2012. – №452. – 21 p.
  9. Buti, M. Fiscal Policy in Europe: how effective are automatic stabilizers? [Text]/ M. Buti, A. Brunila, J. Veld // European Commission Directorate-General for Economic and Financial Affairs Publications. – Economic Papers, 2002. – № 177. – 32 p.
  10. Baunsgaard, T. Automatic Fiscal Stabilizers: How They Can Be Enhansed Without Increasing the Size of the Government? [Text]/ T. Baunsgaard, S. Symansky // IMF Fiscal Affairs Department. – 28 September 2009. – 26 p.
  11. Fedelino, A. Computing Cyclically Adjusted Balances and Automatic Stabilizers [Text]/ A. Fedelino, A. Ivanova, M. Horton // IMF Fiscal Affairs Department. – November 2009. – 12 p.
  12. Giorno, C. et al. (1995). Estimating Potential Output, Output Gaps and Structural Budget Balances. OECD Economic Department Working Papers, OECD Publishing, No. 152, 53.
  13. Van den Noord, P. (2000). The Size and Role of Automatic Fiscal Stabilizers in the 1990s and Beyond. OECD Economics Department Working Papers, OECD Publishing, No. 230, 31.
  14. Blanchard, O., Perotti, R. (2002). An Empirical Characterization of the Dynamic Effect of Changes in Government Spending and Taxes on Output. NBER Working Paper, No. 7269, 31.
  15. Sokolovska, A., Koschuk, T. (2012). Podatkova polityka v Ukraini v konteksti tendentsiy reformuvannya opodatkuvannya v krainah ES. FinansyUkrainy, № 1, 94-121.
  16. Dlugopolskiy, O. (2012). Publichni finansy za umov finansovo-ekonomichnoi kryzy ta transformatsii svitovoi economicy. Finansy Ukrainy, № 8, 106-117.
  17. Dmytrenko, G. (2009). Rol fiskalnoi polityky v antytsyklichnomu reguluvanni economicy. Visnyk Nacionalnoi Akademii Dergavnogo Upravlinnya, № 3, 79-86.
  18. Monitoring tax revenues and tax reforms in EU Member States 2010. Tax policy after crisis. (6 October 2010). European Comission, 85.
  19. Veld, J., Larch, M., Vandeweyer, M. (2012). Automatic Fiscal Stabilizers: What they are and what they do. European Commission Directorate-General for Economic and Financial Affairs Publications. Economic Papers, №452, 21.
  20. Buti, M., Brunila, A., Veld, J. (2002). Fiscal Policy in Europe: how effective are automatic stabilizers? European Commission Directorate-General for Economic and Financial Affairs Publications. Economic Papers, № 177, 32.
  21. Baunsgaard, T., Symansky, S. (28 September 2009). Automatic Fiscal Stabilizers: How They Can Be Enhansed Without Increasing the Size of the Government? IMF Fiscal Affairs Department, 26.
  22. Fedelino, A., Ivanova, A., Horton, M. (November 2009). Computing Cyclically Adjusted Balances and Automatic Stabilizers. IMF Fiscal Affairs Department, 12.

Downloads

Published

2013-12-23

How to Cite

Єфремов, Д. П. (2013). Automatic stabilizers in Ukrainian fiscal system. Technology Audit and Production Reserves, 6(6(14), 24–26. https://doi.org/10.15587/2312-8372.2013.19661

Issue

Vol. 6 No. 6(14) (2013): Scientific outcomes 2013

Section

Economy

License

Copyright (c) 2016 Дмитро Петрович Єфремов

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.