Financial Mechanism of Participatory Budgeting in the Russian Federation
Vitalii A. Fedosov () and
Valeriya V. Bogatchenko ()
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Vitalii A. Fedosov: Saint Petersburg State University of Economics, Saint Petersburg 191023, Russia
Valeriya V. Bogatchenko: Saint Petersburg State University of Economics, Saint Petersburg 191023, Russia
Finansovyj žhurnal — Financial Journal, 2019, issue 3, 117-127
Participatory budgeting is one of the most actively developing forms of public participation in the budget process. Participatory budgeting practices implemented in the Russian Federation differ significantly from each other, which suggests that it is necessary to study further their financial mechanism. The authors has summarized the features of the financial mechanism in the implementation of various practices of participatory budgeting, and has highlighted and described the elements related to the following: implementation of participatory budgeting projects; accompanying participatory budgeting practices; and maintenance of objects created as a result of participatory budgeting practices implementation. The problems that are arising in the process of financing various participatory budgeting practices are systematized, and possible ways of solving them are proposed.
Keywords: participatory budgeting; budget; financial mechanism; co-financing; subsidy (search for similar items in EconPapers)
JEL-codes: H72 R50 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:190309:p:117-127
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