MAIN STAGES OF TRANSFORMATION OF THE STATE FINANCIAL POLICY OF ENSURING SOCIAL DEVELOPMENT OF SOCIETY

Abstract

Kachula S.V. MAIN STAGES OF TRANSFORMATION OF THE STATE FINANCIAL POLICY OF ENSURING SOCIAL DEVELOPMENT OF SOCIETY

Purpose. The aim of the article is identifying the main stages of transformation of Ukraine’s state financial policy over the years of reforms and assessing the impact of its instruments on social development.

Methodology of research. The set of research methods is applied in the work, which made it possible to realize its conceptual unity, namely: the method of scientific generalization ‒ in the analysis of modern approaches to the periodization of the development of the components of state financial policy; logical and historical methods ‒ in identifying the stages of development of the state financial policy of ensuring social development of society; dialectical and structural methods ‒ in revealing the features of each stage; statistical ‒ for summary and grouping of indicators; scientific abstraction and synthesis ‒ when forming conclusions and proposals.

Findings. It has been established that the development of the public financial policy in terms of its components / instruments and their application for solving the goals and objectives of social development should correspond to the stages of the economic cycle, the state of the social sphere and take into account endogenous and exogenous factors of influence. It is shown that financial and economic crises and their consequences, as well as transformational social and economic transformations in the country, have become important factors for rethinking the place and role of budgetary and monetary instruments of state financial policy in the social development of society.

It is determined that in this context it is important to identify and apply an adequate set of instruments of state financial policy in the system of state regulation of social processes, adequate to the economic and social tasks of the development of society, based on an assessment of their effectiveness, importance, relevance and role in balanced economic and social development. This will contribute to the overall increase in the efficiency and adaptability of state financial policy in the system of social development of society.

Originality. The main stages of the development of the domestic financial policy of ensuring the social development of society have been systematized in order to identify the peculiarities of using its components – fiscal and monetary policies.

Practical value. The results can be used to shape financial policies in the system of social development of society.

Key words: state financial policy; budgetary policy; monetary policy; financial instruments; stages of transformation; social development; endogenous and exogenous factors.