The object – the process of formation and implementation of fiscal policy in economic cycles. The purpose is to substantiate the theoretical and methodological dominants of the formation of the fiscal paradigm of the economy’s countercyclical regulation and the development of scientific and practical recommendations for the effective use of fiscal instruments in the process of socio-economic development of Ukraine. Methods – systematization; scientific abstraction; deduction; historical and logical; institutional; comparison; econometric modeling. Novelty – development of a theoretical and conceptual approach to revealing the essence of quasi-fiscal policy as such, which is carried out by the government in the fiscal sphere and manifests itself in inefficient, unjustified, populist use of fiscal instruments to create a temporary positive economic situation; formation of a complex theoretical and methodological algorithm of the impact of fiscal policy instruments on the economic situation in the country and the identification of four scenarios for the use of tax, expenditure and debt instruments of the state to ensure economic equilibrium; development of a scientific and methodological approach to building a fiscal paradigm of countercyclical regulation of the economy based on the separation of its subjects, objects, institutions, tools, methods, goals and objectives; building a model of the impact of fiscal policy instruments on economic growth in the country, which is based on the application of economic and mathematical approaches to assessing the impact of tax revenues, expenditures and government debt on GDP dynamics; improving the content of the concept of “countercyclical regulation of the economy” as a process of political, social and economic nature, conducted by supranational, public and private institutions for the use of non-discretionary (automatic stabilizers) and discretionary (debt, revenue, expenditure and monetary) financial instruments to overcome economic crises, ensuring socio-economic development and preventing “overheating” of the economy; formation of theoretical and methodological approaches to assessing the quality of fiscal measures implemented by the state in the process of overcoming economic crises, achieving economic growth and providing opportunities to forecast market changes in the economy; identification of the system of tax levers, expenditure and debt influence on the development of the most effective ways to overcome economic crises, which is based on the developed model of behaviour of fiscal policy subjects in the implementation of countercyclical regulation of the economy and aimed at achieving economic equilibrium; improving the institutional and regulatory criteria for assessing the effectiveness of fiscal relations in the field of countercyclical regulation of the economy, which make it possible to identify socio-economic shortcomings that lead to a slowdown in economic development and reduce the welfare of citizens; development of scientific approaches to the identification of economic cycles on the basis of the developed simulation model, which allows to visualize upward, constant and downward economic trends, duration and extreme positions of the stages of the economic cycle in the country; formation of scientific and theoretical approaches to determining the directions of fiscal decentralization and consolidation in Ukraine on the basis of building logical relationships between them, as well as highlighting their positive and negative sides; theoretical substantiation of the need to implement such fiscal rules in domestic fiscal practice as the debt rule, the rule of balanced budget, the rules of budget expenditures and revenues.
The findings have been implemented into the activities of the Department of Tax Policy and Fiscal Bodies Supervision of the Ministry of Finance of Ukraine, the State Fiscal Service of Ukraine, Ternopil Regional Council, Ivano-Frankivsk Regional Branch of the Association of Ukrainian Cities, the Main Department of the State Tax Service of Ukraine in Ternopil Region and Ternopil National Economic University.
Scope – the Committee of the Verkhovna Rada of Ukraine on Finance, Tax and Customs Policy, the Ministry of Economic Development, Trade and Agriculture of Ukraine
