Analytical Assessment of Financial Ability of Local Budgets to Ensure Socio-Economic Development of Regions

Ryabushka Lyudmila Borisivna () and Koylo Viktoriya V. ()
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Ryabushka Lyudmila Borisivna: Ukrainian Academy of Banking of the National Bank of Ukraine
Koylo Viktoriya V.: Ukrainian Academy of Banking of the National Bank of Ukraine

Business Inform, 2013, issue 11, 148_155

Abstract: The article describes conceptual grounds of functioning of local budgets, their role, importance and aim in socio-economic development of the state and its regions. The main task of the study is improvement of theoretical and methodological grounds for assessment of financial capability of local budgets as an instrument of socio-economic development of regions and development of practical recommendations on strategic directions of financial provision of regional development. The proposed model of assessment of ability of a local budget to ensure socio-economic development of a region is based on indicators of the budget potential, financial potential of the population and investment potential of the region. The article justifies importance of re-formation of local budgets as a main component of socio-economic development of territories through application of strategic directions of financial provision of local budgets with absolute, average, low and crisis levels of financial capacity.

Keywords: financial sufficiency; capability; stability; capacity; region; development strategy (search for similar items in EconPapers)
Date: 2013
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