Liubov Lysiak
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Ukraine-EU cooperation for realization of innovative projects and programs aimed at public financial management modernization
Liubov Lysiak , Svitlana Kachula , Veronika Kulichenko doi: http://dx.doi.org/10.21511/ppm.15(2-1).2017.05Problems and Perspectives in Management Volume 15, 2017 Issue #2 (cont. 1) pp. 212-221
Views: 1202 Downloads: 263 TO CITE АНОТАЦІЯAt the present stage of economic development Ukrainian public sector is faced with multiple new and complex challenges. In order to implement strategic reforms in the public financial management, the public authorities were given the opportunity to use external sources of finance for the implementation of relevant innovative projects and programs. Accordingly, Ukraine assumes certain international obligations towards the organizational and institutional aspects, as well as transparent and effective targeted use of financial resources. This study examined the main issues of projects and programs at each stage of the project cycle management. The main purpose of this paper is to find the best basic areas for further cooperation between Ukraine and the EU on the implementation of project management in the context of the need to modernize the budget management system.
Methodological and theoretical basis of the research consists of the works of foreign and Ukrainian scholars that allowed realizing conceptual integrity of the study. Methods of generalization and comparison allowed to assess the existing projects of modernization of public financial management financed by international organizations. The authors defined the possible forms of financing of government innovative projects and programs in Ukraine. For this purpose, methods of analysis and synthesis were used.
As a result, it is recommended to follow the directions of further cooperation between Ukraine and the EU on the development of project management along with performance-based budgeting. -
Assessment of financial sustainability of the local budgets: case of Ukraine
Liubov Lysiak , Svitlana Kachula , Oksana Hrabchuk , Milena Filipova , Anna Kushnir doi: http://dx.doi.org/10.21511/pmf.09(1).2020.05Public and Municipal Finance Volume 9, 2020 Issue #1 pp. 48-59
Views: 1102 Downloads: 498 TO CITE АНОТАЦІЯWith the deepening of global financial and economic instability, the search for ways to increase fiscal sustainability becomes relevant in the crisis regulation system. This problem is compounded by the emergence of new global challenges, including the COVID pandemic. Timely and complex analysis of the local budget financial sustainability allows one to comprehensively assess financial and economic risks, identify social and other problems, consider planning deficiencies and, on this basis, form a sound and effective regional budget policy. The purpose of the study is to summarize theoretical and practical principles of assessing the financial sustainability of local budgets and to outline the directions for its improvement in Ukraine considering international practices.
The study revealed the lack of a unified system for assessing the financial sustainability of local budgets in Ukraine. On the basis of generalization of theoretical and methodological approaches, a system of indicators for estimating the financial sustainability of local budgets has been identified. The indicators were grouped and calculated. Based on the study of practical experience, measures have been specified that would contribute to a systematic approach to assessing the financial sustainability of local budgets in Ukraine.
It was concluded that a systematic assessment of the financial sustainability of local budgets is a prerequisite for making informed management decisions about necessary adjustments to the budget, improving the quality of budget planning and the effectiveness of budget policy. -
Tax policy and activation of internal factors of economic growth: EU experience for Ukraine
Olena Dobrovolska , Ralph Sonntag , Svitlana Kachula , Liubov Lysiak , Pavlo Lastovchenko doi: http://dx.doi.org/10.21511/pmf.13(1).2024.06Public and Municipal Finance Volume 13, 2024 Issue #1 pp. 70-82
Views: 206 Downloads: 42 TO CITE АНОТАЦІЯThe state policy of Ukraine aims to promote sustainable economic growth and improve its quality through economic activity, particularly through the optimization of the tax system, which is particularly relevant both during the period of martial law in Ukraine and the post-war recovery. The purpose of the study is to assess the formation and implementation of the state tax policy to activate the internal factors of economic growth in Ukraine under martial law. The study of tax policy in Ukraine and EU countries has shown that the EU countries are characterized by a consistent and transparent tax policy that stimulates investment, innovation, and entrepreneurship to activate internal factors of economic growth. The paper uses fiscal analysis based on the Cobb-Douglas production-institutional function; its main concept is the mutual location of the Laffer points of the first and second types and the actual level of the tax burden. The results show a noticeable adjustment of the real fiscal climate in Ukraine in line with changes in threshold fiscal standards. Considering martial law in Ukraine and the need for the state’s ability to post-war recovery, the study suggests changing the rates of specific taxes, after which it is necessary to make a transition from private fiscal instruments with inherent rate values to the aggregate fiscal burden.
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