Home  Journals  Digest Finance  1(237) - 2016 January-March

Budgetary and fiscal decentralization as part of public finance management

Vol. 21, Iss. 1, MARCH 2016

Article PDF Version

Received: 8 December 2015

Accepted: 9 February 2016

Available online: 18 March 2016

Subject Heading: SOCIO-ECONOMIC DEVELOPMENT

JEL Classification: 

Pages: 2-13

Importance Systemic changes in the budgetary sphere pursue stable economic trends and improving the quality of people's living. They require a long-term balance in socio-economic development of territories, thus raising the need in a research into budgetary and fiscal decentralization and its role in public finance management.
     Objectives The research identifies the role of budgetary and fiscal decentralization as part of public finance management, its specifics in the Russian economy and substantiates the need to enhance the efficacy of budgetary and fiscal decentralization.
     Methods Based on methods of a situation, comparative and financial analysis, I investigated the aspects of budgetary and fiscal decentralization, specifics of the process and ways to increase the efficiency of budgetary and fiscal decentralization as part of budgetary reforms in Russia.
     Results Summarizing theoretical approaches, I find the substance of budgetary and fiscal decentralization trends, demonstrate positive and negative effects of budgetary and fiscal decentralization, reveal the specifics of its implementation in the Russian economy and determine key areas for increasing its efficiency.
     Conclusions and Relevance The conceptual model for effective budgetary and fiscal decentralization will help to consistently encourage sub-national authorities and address relevant objectives so to initiate effective and responsible management of public finance. The findings may be used as the theoretical and methodological basis for formulating the budgetary and fiscal policies, concepts and programs for intergovernmental fiscal regulation.

Keywords: budgetary and fiscal system, decentralization, public finance, regional budgets

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