Open AccessThe concept of two budgets and specific features of its application in Ukraine
Author(s) -
Oleksandr Maksymchuk
Publication year - 2019
Publication title -
vìsnik ekonomìki
Language(s) - English
Resource type - Journals
eISSN - 2786-4545
pISSN - 2786-4537
DOI - 10.35774/visnyk2018.04.047
Subject(s) - legislature , order (exchange) , revenue , control (management) , legislation , risk analysis (engineering) , development (topology) , computer science , business , process management , management science , operations research , accounting , economics , finance , political science , engineering , mathematical analysis , mathematics , artificial intelligence , law
The article provides an overview of definitions for development budget. Having examined some of the definitions, the study presents a number of approaches addressing the challenges of development budget, namely: as a financial policy instrument; as a driver of economic growth; as a support for investment project implementation. Furthermore, some deficiencies in the existing definitions of development budget are identified. Based on the critical review of definitions for development budget as well as some limitations found in research papers of foreign scholars, the author proposes a revised definition of the concept.The study also analyzes the legislative order concerning the issues of development budget. Evidence shows that the current legislation on development budget does not provide conditions to ensure the proper exercise of functions.Finally, the in-depth analysis of identified problems enables the author to propose possible ways of improving the budget of development: separating the processes of current budget planning and development budget planning; setting up a monitoring system for exercising control over local assets; expanding the revenue of development budget.