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Department of Public Finances

About this department: Department of Public Finance was established during the organization of the Institute, given that the success of market reforms depends on the scientific validity of the transformation in public finance. As is well known, in Ukraine, most of the elements of the system were formed in times of command economy where the state finances did not play any active role, the state budget was the budget of the entire economy, and many types of the government’s obligations for funding the social sector were related to the low wages. Creating a modern system of public finance requires addressing the methodological and practical problems of the creation of a rational taxation system and effective mechanisms for inter-regional redistribution of financial resources, changes in types and structure of public spending, ensuring legal procedures of budgetary decisions.
Since its establishment, the Department has been headed by Doctor of economics, Prof., Honored Worker of Science of Ukraine Inna LUNINA.

Fields of Research: Main fields of research include theoretical and methodological principles of public finance and intergovernmental relations, such as:
• patterns of the evolution of public expenditures in emerging economies and characteristics of transformation processes in the budgetary system of Ukraine;
• developing the processes of fiscal decentralization;
• reforming the tax system that enhances the competitiveness of Ukraine in the context of globalization and intensifying European integration;
• selecting effective forms and methods of government support;
• developing the tools to assess the impact of external and internal risks on the condition of the public finances;
• and creating effective mechanisms for budgetary decision-making and to ensure the national financial stability.

Personalities: Based on the results of the Department’s research:
• developed the theoretical foundations of public finances to reduce the risks associated with external borrowing made by economic agents;
• developed the tools for comprehensive analysis of the risks of public finance, justified the key tasks in the transformation of Ukraine’s fiscal system in order to decrease the risks of debt management, strengthen budgetary discipline and improve the budget process;
• justified the strategy of fiscal decentralization, which takes into account the emergence of market relations in the course of the transition from a centralized to a decentralized system of government and is aimed at overcoming the existing conflicts and creating favorable conditions to unleash the potential of public authority and to ensure effective functioning of a multi-level budget system;
• developed the conceptual approach to the assessment of the state support of enterprises Ukraine using fiscal instruments that allows the comparison of such support in Ukraine and the EU;
• justified the theoretical and methodological foundations of the productive nature of government support and further reform of the tax system of Ukraine in the context of globalization;
• revealed the shortcomings in the legal provision of the status of the controlling entities in Ukraine’s of public finances and justified the guidelines to improve the state financial control, including internal audit in conditions of the deepening of the European integration;
• defined the strategic guidelines of the consolidation of public finances, which are crucial with the existing high degree of dependence of Ukraine’s financial system on external borrowings and the need to meet the challenges of reducing the debt burden;
• justified the expediency of the creation of a multilevel budgetary system based on decentralization, which would provide the responsible attitude of the public authorities at various levels to the performance of their functions and powers;
• proposed criteria for the distribution of expenditure responsibilities between central and local authorities;
• developed methodological principles for the coordination of transfer pricing and customs valuation of imported goods, whose implementation would allow to eliminate the potential risks of revenue shortfalls and excessive tax burden on taxpayers;
• justified the priorities guidelines to balance Ukraine’s financial resources of states based on the harmonization of the customs legislation of transfer pricing methods.
The Department’s investigations have created a scientific basis for practical solutions of the urgent problems of fiscal and debt policies, their results were used in the preparation of research papers and memoranda submitted by the central bodies of legislative and executive authorities of Ukraine and approved at international and national conferences, round tables and working groups.

Major Publications: 1. I.Lunina (2000). Public finances of Ukraine during the transitional period. – Kharkiv: Fort.
2. T.Vakhnenko (2000). The public debt of Ukraine and its economic consequences. - Kyiv: Alterpres.
3. I.Lunina (2006). Reform of public finance and intergovernmental relations. - Kyiv: Naukova Dumka.
4. T.Vakhnenko (2006). External debt in the system of world economic relations. - Kyiv: Feniks.
5. Ed. I.Lunina (2010). Diversification of local revenues. - Kyiv.
6. V.Balitska (2007). Capital of Ukrainian enterprises: trends, priorities. Kyiv: Institute for Economics and Forecasting.
7. I.Lunina, O.Bulana, N.Frolova et al. (2014). Development of Ukrainian public finance under the conditions of globalization. Kyiv: Institute for Economics and Forecasting.
8. D.Tverdokhlibova (2014). Assessment of the impact of foreign corporate borrowings on the revenues of Ukraine’s budget. Kyiv: Institute for Economics and Forecasting.

Partners: The Department’s staff consists of 11 employees, including 1 Doctor of Economics and 6 PhDs in Economics

Contacts: State Institution "Institute of Economics and Forecasting of NAS of Ukraine", Department of Public Finance
26 Panasa Myrnoho st., Kyiv, 01011, Ukraine
Phone: +38 (044) 254-20-09
Email: ilunina@ukr.net