Gataullina E. Financial policy in the period of economic transformation

This thesis aims to investigate the role of financial policy in economic transformations. Essence of financial policy as a vital element of social and economic development that based on institutional framework, mechanisms and tools of financial management on macroeconomic level according to the determined directions of society development is disclosed. Functional structure model of budgetary policy influence on economic process, which based on set of instruments of fiscal regulation, is improved. The study generalizes and systemizes approaches to formation and implementation of financial regulation in countries with advanced economies and economies in transition in terms of recession and recovery. In the thesis we have determined approaches to mechanism of tax policy formation in part of tax administration and using instruments to stimulate small and medium business. In addition, we have considered the medium term policy directions, adjusted for business cycles. We have developed approaches to evaluate the efficiency of budget expenditures in the stage of their planning taking into account characteristics of budget classification. Statements to enhance the mechanism of state regulation of financial services sector that concludes process of implementation prudential supervision and providing regular monitoring of non-banking organization are improved.