Stepanova H. Financial regulation of the state economic development

The essence of the state financial regulation system as a component of institutional development of the economy, consisting of a set of methodological principles, formation, coordination and usage methods of a complex of the tools, levers and mechanisms of financial architectonics in the field of fiscal policy, budget planning, inter-budget relations, budget deficit, public debt management, monetary policy and government regulations on the stock market in order to influence on the dynamics of domestic demand and business activity, is revealed. The formation and implementation experience of financial regulation measures in advanced and emerging economies is generalized and systematized. The statements on the monetary regulation system functioning in order to increase the management efficiency of the interest rate, currency regulation and control have been developed. The approaches allowing to balance the system of public finance have gained further development. The priority directions of the country's financial policy are grounded for activation of economic development processes in the medium-term perspective, taking into account the cyclical nature of the economy. The implementation approaches of the government regulations on the stock market in order to enhance the functional efficiency of the prudential oversight mechanism, monitoring and control of non-bank financial institutions have been improved; the statements on the efficiency increase in budgetary regulation, envisaging the introduction of indicative medium-term budget planning at the level of the main spending units as well as strengthening the effectiveness of the budget relations management mechanism, have been improved too.