№ 1/2018

Fìnansi Ukr. 2018 (1): 35–46https://doi.org/10.33763/finukr2018.01.035

СHANGE MANAGEMENT IN THE SYSTEM OF PUBLIC FINANCE

KUDRJASHOV Vasyl ¹, BALAKIN Robert ²

¹SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0003-4801-3620
²SESE “The Academy of Financial Management”
OrcID ID : https://orcid.org/0000-0001-6431-6635

Managing public finances using change management approaches

The article discusses the application of the portfolio approach to managing changes in the public sector of economy. The objective of change management in public finances, the content and structure of the change management portfolio, as well as measures to improve the quality of management are defined. The use of the portfolio approach to debt policy and the introduction of fiscal rules in Ukraine is considered. The goals and objectives of the debt policy in Ukraine, the causes and factors of the public and publicly guaranteed debt growth are determined. The article describes changes in the dynamics of internal and external liabilities. The authors propose measures to reduce the public debt and provide state guarantees, as well as restrictions on the impact of public corporations on the implementation of the state budget. The necessary institutional changes aimed at improving the effectiveness of public financial management are identified. It is recommended to introduce fiscal rules to limit the indicators of the public debt. The types of such rules, their main elements, the field of application, the consequences of their introduction, as well as the role in strengthening budget discipline are determined. The experience of foreign countries in the implementation of fiscal rules is considered. Special attention is paid to the creation of independent financial institutions whose activities are aimed at enhancing the sustainability of public finances and the specifics of their activities in other countries. The authors propose measures to increase the transparency of the budget process. It is concluded that, in general, the use of management changes in the management of public finances is the basis for increasing public value.
Keywords: change management, portfolio approach, debt policy, government guarantees, fiscal rules, transparency of the budget process.

Keywords:change management, portfolio approach, debt policy, government guarantees, fiscal rules, transparency of the budget process

JEL: Н12, Н61, Н63, Н68

Kudrjashov V. . Managing public finances using change management approaches / V. . Kudrjashov, R. . BALAKIN // Фінанси України. - 2018. - № 1. - C. 35-46.

Article original in English (pp. 35 - 46)

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