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Civil Finance

Author

Listed:
  • Vladimir V. Vagin

    (Financial Research Institute, Moscow, Russian Federation)

  • Valeriya A. Paksivatkina

    (Financial Research Institute, Moscow, Russian Federation)

Abstract

The article highlights the experience of civic participation in state and municipal management and financial aspects of civic self-organization in different countries of the world. The main forms of cofinancing projects by the population or collecting interest-free loans through civil mutual assistance are determined. Russian practices of financial participation of citizens in the implementation of projects of common interest are identified: co-financing of initiative budgeting projects, practices of self-taxation of citizens, co-financing of projects in the implementation of certain state programs and national projects, as well as co-financing of projects on crowdfunding platforms. Based on the analysis and review of scientific literature, the conclusion was made about the need to define and describe a new phenomenon in the field of public finance — "civil finance", which refers to financial resources and relations between citizens themselves and between citizens and state institutions in the process of implementing management decisions that affect the interests of urban and rural residents.

Suggested Citation

  • Vladimir V. Vagin & Valeriya A. Paksivatkina, 2023. "Civil Finance," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 1, pages 45-57, February.
    • Handle: RePEc:fru:finjrn:230103:p:45-57
    DOI: 10.31107/2075-1990-2023-1-45-57
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    References listed on IDEAS

    as
    1. Pons-Seres de Brauwer, C. & Cohen, J.J., 2020. "Analysing the potential of citizen-financed community renewable energy to drive Europe's low-carbon energy transition," Renewable and Sustainable Energy Reviews, Elsevier, vol. 133(C).
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    More about this item

    Keywords

    civil finance; initiative budgeting; participatory budgeting; civic participation in state and municipal management; initiative payments;
    All these keywords.

    JEL classification:

    • H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General

    Statistics

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