Fiscal Policy in a Decentralized Space of the Financial System of Ukraine

The article deals with fiscal policy in the decentralized space of the financial system of Ukraine. The methodology of complex, systematic assessment of fiscal policy in the decentralized space of the financial system of the state is grounded. It is proved that effective methodological approach to assessing fiscal policy in the decentralized space of the financial system of the state is a vector auto regression (VAR), which provides dynamic correlation of time series with simultaneous determination of each exogenous and endogenous variable in the system, in case of fiscal impulses (shocks) in economy. The production-institutional function is used which, when adapting to the relationship between GDP and tax burden with specific statistics, changes the type of trend of tax revenue. A method for evaluating the effectiveness of financing targeted programs for decentralized territory has been developed. The dynamics of direct and indirect taxes to the state and local budgets are analyzed and the fiscal significance of VAT in GDP, the state budget and tax revenues of Ukraine is determined. The amount of tax debt and the state budget deficit has been estimated and the structure of tax benefits in terms of taxes and fees in Ukraine is presented. The projected values of real tax revenues per capita are substantiated and the forecast parameters of the level of subsidization of local budgets of decentralized territories are given

Ensuring security the movement of foreign direct investment: Ukraine and the EU economic relations

It is well known that an important positive result of attracting foreign direct investment for the country's economy can be the receipt and subsequent distribution of more advanced production and management technologies. That is why the injection of foreign capital is necessary not only for direct financing but also for the general development of the invested country. The purpose of this article is to consider the theoretical, methodological and practical aspects of ensuring the level of security of investment attractiveness of the world's economies in the polystructural space of foreign direct investment and to highlight the aggregated factors of the investment attractiveness index that characterize the investment climate, investment activity and the state of economic development of the country. To determine the synergistic impact of foreign direct investment on the indicator of the country's investment attractiveness the methods of analysis, synthesis, comparison and mental modelling were used. As a result, it was found that the EU countries are one of the largest investors (the share 65-90% of all investments) in the polystructural space of international investment. It was concluded that in the context of deepening cooperation and realizing the unique capabilities of the states in shaping the global investment climate, it is necessary to ensure a high level of employment of the population by creating new jobs, updating the transfer and introducing the latest technologies, solving social problems at the general level; to carry out an investment modernization of the economy to increase the fixed assets of enterprises; to implement a more effective investment policy

Investment Attractiveness of the Economy of the World Countries in the Polystructural Space of Foreign Direct Investments

The article deals with the theoretical, methodological and practical aspects of ensuring a safety level the investment attractiveness of the world countries economy in the polystructural space of foreign direct investments. In the context of the implementation of investment policy and factors in the field of international investment, an optimization model of the investment attractiveness of the national economy has been developed. The aggregate factors of the investment attractiveness index, which characterize the investment climate, investment activity and the state of economic development of the country, are highlighted. A methodical approach is presented to determine the synergistic impact of foreign direct investment on the country's investment attractiveness indicator. The criteria of normalization of investment attractiveness of the economy of the country by indicators of macroeconomic, monetary and currency status, which are formalized by indicators-stimulators, destimulators and interaction of bilateral boundary constraints are proposed. The criteria of identification of risks and threats of safe and dangerous state of development of the economy of the countries by the methods of prognostic extrapolation of foreign direct investment are taken into account. A comparative assessment of global foreign direct investment flows and global GDP, the value of net sales of cross-border mergers and acquisitions was made. The structure of foreign direct investment by regions of the countries of the world is considered, taking into account their external reserves of investment potential. The indicators of investment attractiveness of the Ukrainian economy and its cooperation with EU countries in terms of the volume of inflow and direct investments are presented. The scenarios for the growth of foreign direct investments in the polystructural space of the world and developing countries are proposed