№ 2/2017

Fìnansi Ukr. 2017 (2): 110–128

THEORY AND HISTORY OF FINANCES

OPARIN Valerij ¹, FEDOSOV Viktor ², YUKHYMENKO Petro ³

¹SHEE “Kyiv National Economic University named after Vadym Hetman”
OrcID ID : https://orcid.org/0000-0002-5181-4333
²SHEE “Kyiv National Economic University named after Vadym Hetman”
OrcID ID : https://orcid.org/0000-0003-1092-4218
³Bila Tserkva Institute of Economics and Management of the University “Ukraine”

Public finances: genesis, theoretical and practical conceptualization collision

The article investigates the problems of formation and development of modern public finance in Ukraine. The necessity of using instead of the term “state finance” which was peculiar to the administrative economy, the definition “public finance”, which is a feature of a developed, democratic civil society is grounded. The etymology of the broad concept of “finance” in relation to public finance is characterized. Attention is paid to the fact that for a long time there has been the actual identification of such a common phenomenon as finance with partial – public finance, which is due to historical patterns of development of state finance needs. The evolution of financial terms for understanding finances as economic activity of public unions in the person of state and local governments to the separation of public finance as the basis for public sector functioning is shown. The contribution of Ukrainian scientists and economists to the theory of public finance has been evaluated. The questions of the structural and essential content of public finance are considered. It is
suggested to examine its structure in the broad and narrow sense. Broadly speaking, it includes the economic activity of all kinds of public unions: the state, local governments, NGOs, creative unions, etc., as well as international organizations. In the narrow traditional understanding, public finance covers state and local finances provided their sufficient autonomy and financial capacity of local governments. The essential content of public finance is determined by transparency and provision for the implemention of public choice concept .It is determined that its scope depends primarily on the type of social policy, which is based on the delineation of responsibilities between the state and private sector. The criterion for delineation of public finance is the ratio of individual and public interest in obtaining certain benefits. It is proved that the basis for the modern understanding of public finance is not its structural structure but essential content. The directions of further reforming of public finance in Ukraine in terms of its financial capacity which is currently substantially limited, and objectives of economic, social and international policies that should be aimed at improving the welfare of citizens, the financial capacity of state and local governments are provided.

Keywords:public finance, local finance, public sector, public choice, civil society, social policy model.

JEL: H00, H40, H50

Oparin V. . Public finances: genesis, theoretical and practical conceptualization collision / V. . Oparin, V. . Fedosov, P. . YUKHYMENKO // Фінанси України. - 2017. - № 2. - C. 110-128.

Article original in Ukrainian (pp. 110 - 128)

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