IDEAS home Printed from https://ideas.repec.org/a/nos/vgmu00/2016i2p72-95.html
   My bibliography  Save this article

Moscow Budget and Growth of Public Finances Efficiency

Author

Listed:
  • Mstislav Afanasyev
  • Nataliya Shash

Abstract

The article is devoted to the city budget of Moscow for 2016 and the planning period of 2017-2018. On the basis of the analysis of effective management of the city budget of Moscow, it is shown that, despite the discrepancy of strategic objectives (the budget of development and social orientation) and negative tendencies in the economy of the region and the country in general, principles, whose consecutive realization will allow to provide steady functioning of the regional budgetary mechanism, have been put into the basis of 2016-2018 budget formation. It is noted that one of the strengths of the city budget of Moscow is preservation of the medium-term horizon of budget planning within whose development the preparation of a long-term budgetary forecast is supposed in the perspective. A package of measures, aimed at the development of the regions profit potential and the increase of effective management of the budgetary income, as well as the directions of tax and investment policy development in Moscow have been considered. At the same time it is noted that a rather low level of the volume of receipts from regional taxes, it especially relates to the share of property taxes that possess the greatest stability and independence from the change of global and local financial and economic conditions, causes concerns. The consecutive use of program and target budgeting instruments when forming the account part of the budget of Moscow is assessed positively, at the same time it is noted that the purposes and indicators of the realized state programs have a number of essential shortcomings. The article presents positive experience of the region regarding the replacement of budgetary resources with private investments on the basis of expanded use of participation financing instruments in the budgetary practice such as life cycle contracts and concession agreements. The mechanism of debt obligations management and the main directions of the subjects debt policy are analyzed. The conclusion is drawn that as current trends of the development of public finances cause the need to increase effective management of budgetary resources, the growth of public finances efficiency is impossible until program and target budgeting technology is consecutively applied on the basis of strategic management of the budget income and expenditures.

Suggested Citation

  • Mstislav Afanasyev & Nataliya Shash, 2016. "Moscow Budget and Growth of Public Finances Efficiency," Public administration issues, Higher School of Economics, issue 2, pages 72-95.
    • Handle: RePEc:nos:vgmu00:2016:i:2:p:72-95
    as

    Download full text from publisher

    File URL: http://vgmu.hse.ru/data/2016/06/28/1115850817/%D0%90%D1%84%D0%B0%D0%BD%D0%B0%D1%81%D1%8C%D0%B5%D0%B2,%20%D0%A8%D0%B0%D1%88%202-2016.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Mstislav Afanasyev & Nataliya Shash, 2014. "The Introduction Of Program Budgeting In Russia: 20 Years Of Experience With Russian Budgetary Reforms," Public administration issues, Higher School of Economics, issue 5, pages 112-129.
    2. Andrey Klimenko, 2014. "The decade of administrative reform: results and new challenges," Public administration issues, Higher School of Economics, issue 1, pages 8-51.
    3. Mstislav Afanasyev & Nataliya Shash, 2014. "Russian budgetary reforms: from programs of social and economic development to state programs of the Russian Federation," Public administration issues, Higher School of Economics, issue 2, pages 48-64.
    4. Groneck, Max, 2010. "A golden rule of public finance or a fixed deficit regime?: Growth and welfare effects of budget rules," Economic Modelling, Elsevier, vol. 27(2), pages 523-534, March.
    5. Anderson, Phillip R. D. & Silva, Anderson Caputo & Velandia-Rubiano, Antonio, 2010. "Public debt management in emerging market economies : has this time been different ?," Policy Research Working Paper Series 5399, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alexandru Minea & Patrick Villieu, 2010. "Dette publique, croissance et bien-être : une perspective de long terme," Post-Print halshs-00672605, HAL.
    2. Sergey Plaksin & Evgenyi Styrin & Andrey Zhulin, 2017. "Approaches to the Formation of the Powers Register for Federal Executive Bodies," Public administration issues, Higher School of Economics, issue 3, pages 7-28.
    3. Mikhail E. Kosov & Alla Yu. Chalova & Ravil G. Akhmadeev & Ekaterina V. Golubtsova, 2023. "Federal Budget and State Fiscal Policy: Macroeconomic Adaptation until 2025," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 8-26, April.
    4. Carlos Góes & Herman Kamil & Phil De Imus & Ms. Mercedes Garcia-Escribano & Mr. Roberto Perrelli & Mr. Shaun K. Roache & Jeremy Zook, 2017. "Spillovers from U.S. Monetary Policy Normalization on Brazil and Mexico’s Sovereign Bond Yields," IMF Working Papers 2017/050, International Monetary Fund.
    5. Landon, Stuart & Smith, Constance, 2017. "Does the design of a fiscal rule matter for welfare?," Economic Modelling, Elsevier, vol. 63(C), pages 226-237.
    6. Yuzhakov, Vladimir Nikolaevich (Южаков, Владимир Николаевич) & Dobrolyubova, Elena (Добролюбова, Елена), 2016. "Techniques for Evaluating Staffing Needs and Incentives of Federal Civil Servants, Considering the Implementation of Program-Target Methods of Governance [Методики Оценки Кадровых Потребностей И Ма," Working Papers 1031, Russian Presidential Academy of National Economy and Public Administration.
    7. de Mendonça, Helder Ferreira & Machado, Marcelo Rangel, 2013. "Public debt management and credibility: Evidence from an emerging economy," Economic Modelling, Elsevier, vol. 30(C), pages 10-21.
    8. Martin Murín, 2016. "Vplyv spôsobu tvorby fiškálneho deficitu na ekonomický rast [The Influence of Fiscal Deficit Creation on Economic Growth]," Politická ekonomie, Prague University of Economics and Business, vol. 2016(2), pages 176-192.
    9. Lutfi Zharku, 2018. "Budget Deficits, Public Debt and Irregular Receipts: Kosovo case," Acta Universitatis Danubius. OEconomica, Danubius University of Galati, issue 14(5), pages 268-285, OCTOBER.
    10. Rigoberto Ariel Yépez-Garcia & Julie Dana, 2012. "Mitigating Vulnerability to High and Volatile Oil Prices : Power Sector Experience in Latin America and the Caribbean," World Bank Publications - Books, The World Bank Group, number 9341, December.
    11. Yu. Gerasimova V. & Ю. Герасимова В., 2018. "Анализ согласованности показателей государственных программ (обеспечение граждан жильем и развитие физической культуры и спорта), установленных на федеральном и региональном уровнях // Indicator Confo," Управленческие науки // Management Science, ФГОБУВО Финансовый университет при Правительстве Российской Федерации // Financial University under The Government of Russian Federation, vol. 8(4), pages 25-39.
    12. Bank for International Settlements, 2011. "Interactions of sovereign debt management with monetary conditions and financial stability," CGFS Papers, Bank for International Settlements, number 42, december.
    13. Mstislav Afanasyev & Nataliya Shash, 2014. "The Introduction Of Program Budgeting In Russia: 20 Years Of Experience With Russian Budgetary Reforms," Public administration issues, Higher School of Economics, issue 5, pages 112-129.
    14. Плаксин С. М. & Стырин Е. М. & Жулин А. Б., 2017. "Подходы К Формированию Реестра Полномочий Федеральных Органов Исполнительной Власти," Вопросы государственного и муниципального управления // Public administration issues, НИУ ВШЭ, issue 3, pages 7-28.
    15. Pierre-Richard Agénor & Devrim Yilmaz, 2012. "Simple Dynamics of Public Debt with Productive Public Goods," Centre for Growth and Business Cycle Research Discussion Paper Series 165, Economics, The University of Manchester.
    16. Zolotareva, Anna B. (Золотарева, Анна Б.) & Sokolov, Ilya A. (Соколов, Илья), 2018. "Problems and Ways of Improving the System of Strategic Planning in Russia [Проблемы И Пути Совершенствования Системы Стратегического Планирования В России]," Ekonomicheskaya Politika / Economic Policy, Russian Presidential Academy of National Economy and Public Administration, vol. 5, pages 8-23, October.
    17. Szabolcs Szikszai & Tamás Badics & Csilla Raffai & Zsolt Stenger & András Tóthmihály, 2013. "Studies in Financial Systems No 8 Hungary," FESSUD studies fstudy08, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    18. Michał Konopczyński, 2013. "Fiscal policy within a common currency area – growth implications in the light of neoclassical theory," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 7(3), September.
    19. de Mendonça, Helder Ferreira & Nicolay, Rodolfo Tomás da Fonseca, 2017. "Is communication clarity from fiscal authority useful? Evidence from an emerging economy," Journal of Policy Modeling, Elsevier, vol. 39(1), pages 35-51.
    20. Bhatt Hakhu, Antra & Piergallini, Alessandro & Scaramozzino, Pasquale, 2014. "Public Capital Expenditure and Debt Dynamics: Evidence from the European Union," MPRA Paper 62827, University Library of Munich, Germany.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nos:vgmu00:2016:i:2:p:72-95. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Irina A. Zvereva (email available below). General contact details of provider: http://vgmu.hse.ru/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.