MANAGEMENT FEATURES OF THE STATE FUND FOR REGIONAL DEVELOPMENT OF UKRAINE UNDER THE CONDITIONS OF CURRENT CHALLENGES
Abstract. The article summarizes the arguments and counterarguments within the scientific discussion on the resource management of the State Fund for Regional Development of Ukraine (Fund). The main purpose of the study is to assess the effectiveness of resource management of this Fund from the sta...
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| Format: | Article |
| Language: | English |
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FINTECH Alliance LLC
2021-02-01
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| Series: | Фінансово-кредитна діяльність: проблеми теорії та практики |
| Subjects: | |
| Online Access: | https://fkd.net.ua/index.php/fkd/article/view/3234 |
| _version_ | 1797710232388894720 |
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| author | S. Pukhyr M. Khmelyarchuk |
| author_facet | S. Pukhyr M. Khmelyarchuk |
| author_sort | S. Pukhyr |
| collection | DOAJ |
| description |
Abstract. The article summarizes the arguments and counterarguments within the scientific discussion on the resource management of the State Fund for Regional Development of Ukraine (Fund). The main purpose of the study is to assess the effectiveness of resource management of this Fund from the standpoint of improving the effectiveness of state financial support for regional development in Ukraine. Systematization of literature sources and approaches to solving the problem of effective use of state budget funds to finance regional development goals showed that in general there is a positive assessment of the feasibility of the State Fund for Regional development in Ukraine, but there are significant shortcomings and problems in financing regional development measures. The urgency of solving this scientific problem is that being a significant budgetary resource for the implementation of goals and objectives of regional development, the Fund is not used effectively due to improper management.
The study of the peculiarities of the resource management of the State Fund for Regional Development of Ukraine in modern challenges was conducted from the standpoint of assessing compliance with national legislation of budgetary discipline, economic and social feasibility and taking into account the following factors: ensuring full compliance with budget legislation of Ukraine; absence of violations of terms of distribution of means of fund; absence of violations in planning, selection and approval of investment programs and regional development projects; directing the established share of Funds resources to the economic development of the regions; timely and full development of resources at the planned facilities; an effective system of internal control over the effective use of budget funds; based on the results of the study, conclusions were prepared. The methodological tools of the study were the methods of economic and statistical analysis, grouping, comparisons, index analysis and factor analysis. The research period is 2016—2020.
The article presents the results of the empirical analysis, which showed that there are systemic problems in the organization of resource management of the State Fund for Regional Development. The study empirically confirms and theoretically proves that it is necessary to update the provisions of Article 241 of the Budget Code of Ukraine to determine the resources of this Fund in the amount of at least one percent of the total fund of the State Budget of Ukraine; the distribution of the fund’s funds should take into account territorial differentiation according to the regional human development index; identification of additional criteria for selection of regional development projects that will ensure the achievement of positive economic changes in the regions; organize an effective system of internal control and internal audit. The results of the study can be useful for use in research and in the activities of state, regional and local governments in terms of taking into account the peculiarities of the management of the State Fund for Regional Development in Ukraine.
Keywords: state budget, state fund for regional development, management efficiency, investment programs and projects, regional development, financial support.
Formulas: 0; fig.: 1; tabl.: 2; bibl.: 22.
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| first_indexed | 2024-03-12T06:49:12Z |
| format | Article |
| id | doaj.art-5bf5c3639573433ea89f23a5f666d2cd |
| institution | Directory Open Access Journal |
| issn | 2306-4994 2310-8770 |
| language | English |
| last_indexed | 2024-03-12T06:49:12Z |
| publishDate | 2021-02-01 |
| publisher | FINTECH Alliance LLC |
| record_format | Article |
| series | Фінансово-кредитна діяльність: проблеми теорії та практики |
| spelling | doaj.art-5bf5c3639573433ea89f23a5f666d2cd2023-09-03T00:24:11ZengFINTECH Alliance LLCФінансово-кредитна діяльність: проблеми теорії та практики2306-49942310-87702021-02-0113610.18371/fcaptp.v1i36.228076MANAGEMENT FEATURES OF THE STATE FUND FOR REGIONAL DEVELOPMENT OF UKRAINE UNDER THE CONDITIONS OF CURRENT CHALLENGESS. Pukhyr0M. Khmelyarchuk1Banking UniversityPoznan University of Technology Abstract. The article summarizes the arguments and counterarguments within the scientific discussion on the resource management of the State Fund for Regional Development of Ukraine (Fund). The main purpose of the study is to assess the effectiveness of resource management of this Fund from the standpoint of improving the effectiveness of state financial support for regional development in Ukraine. Systematization of literature sources and approaches to solving the problem of effective use of state budget funds to finance regional development goals showed that in general there is a positive assessment of the feasibility of the State Fund for Regional development in Ukraine, but there are significant shortcomings and problems in financing regional development measures. The urgency of solving this scientific problem is that being a significant budgetary resource for the implementation of goals and objectives of regional development, the Fund is not used effectively due to improper management. The study of the peculiarities of the resource management of the State Fund for Regional Development of Ukraine in modern challenges was conducted from the standpoint of assessing compliance with national legislation of budgetary discipline, economic and social feasibility and taking into account the following factors: ensuring full compliance with budget legislation of Ukraine; absence of violations of terms of distribution of means of fund; absence of violations in planning, selection and approval of investment programs and regional development projects; directing the established share of Funds resources to the economic development of the regions; timely and full development of resources at the planned facilities; an effective system of internal control over the effective use of budget funds; based on the results of the study, conclusions were prepared. The methodological tools of the study were the methods of economic and statistical analysis, grouping, comparisons, index analysis and factor analysis. The research period is 2016—2020. The article presents the results of the empirical analysis, which showed that there are systemic problems in the organization of resource management of the State Fund for Regional Development. The study empirically confirms and theoretically proves that it is necessary to update the provisions of Article 241 of the Budget Code of Ukraine to determine the resources of this Fund in the amount of at least one percent of the total fund of the State Budget of Ukraine; the distribution of the fund’s funds should take into account territorial differentiation according to the regional human development index; identification of additional criteria for selection of regional development projects that will ensure the achievement of positive economic changes in the regions; organize an effective system of internal control and internal audit. The results of the study can be useful for use in research and in the activities of state, regional and local governments in terms of taking into account the peculiarities of the management of the State Fund for Regional Development in Ukraine. Keywords: state budget, state fund for regional development, management efficiency, investment programs and projects, regional development, financial support. Formulas: 0; fig.: 1; tabl.: 2; bibl.: 22. https://fkd.net.ua/index.php/fkd/article/view/3234state budgetstate fund for regional developmentmanagement efficiencyinvestment programs and projectregional developmentfinancial support |
| spellingShingle | S. Pukhyr M. Khmelyarchuk MANAGEMENT FEATURES OF THE STATE FUND FOR REGIONAL DEVELOPMENT OF UKRAINE UNDER THE CONDITIONS OF CURRENT CHALLENGES Фінансово-кредитна діяльність: проблеми теорії та практики state budget state fund for regional development management efficiency investment programs and project regional development financial support |
| title | MANAGEMENT FEATURES OF THE STATE FUND FOR REGIONAL DEVELOPMENT OF UKRAINE UNDER THE CONDITIONS OF CURRENT CHALLENGES |
| title_full | MANAGEMENT FEATURES OF THE STATE FUND FOR REGIONAL DEVELOPMENT OF UKRAINE UNDER THE CONDITIONS OF CURRENT CHALLENGES |
| title_fullStr | MANAGEMENT FEATURES OF THE STATE FUND FOR REGIONAL DEVELOPMENT OF UKRAINE UNDER THE CONDITIONS OF CURRENT CHALLENGES |
| title_full_unstemmed | MANAGEMENT FEATURES OF THE STATE FUND FOR REGIONAL DEVELOPMENT OF UKRAINE UNDER THE CONDITIONS OF CURRENT CHALLENGES |
| title_short | MANAGEMENT FEATURES OF THE STATE FUND FOR REGIONAL DEVELOPMENT OF UKRAINE UNDER THE CONDITIONS OF CURRENT CHALLENGES |
| title_sort | management features of the state fund for regional development of ukraine under the conditions of current challenges |
| topic | state budget state fund for regional development management efficiency investment programs and project regional development financial support |
| url | https://fkd.net.ua/index.php/fkd/article/view/3234 |
| work_keys_str_mv | AT spukhyr managementfeaturesofthestatefundforregionaldevelopmentofukraineundertheconditionsofcurrentchallenges AT mkhmelyarchuk managementfeaturesofthestatefundforregionaldevelopmentofukraineundertheconditionsofcurrentchallenges |