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Methods of State’s Reaction to Risks of State Finances Management

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  • Margarita Irizepova

Abstract

The purpose of the article is the study of methods of state’s reaction to risks of state finances management. Methodological basis of the research is presented by the principle of integrity of the past, present, and future, with the help of which the proprietary position for determination of the category of state financial reserves in the basis of F. Knight’s concept is presented, according to which measurability of uncertainty is one of prerequisites of formation and use of financial reserves. A key conclusion of the conducted research is substantiation of the fact that, being an economic category, state financial reserves occupy a certain niche in the system of state finances. From these positions, state financial reserves are financial relations as to creation, distribution, and use of the part of national financial resources that are created from value added (GDP) and are aimed for constant process of development of national economy under the conditions of uncertainty and risk. Under the modern conditions, the necessity for clear work of national institutes that coordinate state financial flows grows. Evaluation and distribution of risks in this sphere of management and use of methods of regulation of risks in any moment can be measured quantitatively and determined qualitatively only after their implementation later on.

Suggested Citation

  • Margarita Irizepova, 2015. "Methods of State’s Reaction to Risks of State Finances Management," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 129-136.
  • Handle: RePEc:ers:journl:v:xviii:y:2015:i:3:p:129-136
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    File URL: http://www.ersj.eu/repec/ers/papers/15_3_p11.pdf
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    References listed on IDEAS

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    1. Rockoff, Hugh, 2015. "O.M.W. Sprague (the man who “wrote the book” on financial crises) and the founding of the Federal Reserve," Journal of Financial Stability, Elsevier, vol. 17(C), pages 35-45.
    2. Steiner, Andreas, 2014. "Reserve accumulation and financial crises: From individual protection to systemic risk," European Economic Review, Elsevier, vol. 70(C), pages 126-144.
    3. Marco Bassetto & Todd Messer, 2013. "Fiscal Consequences of Paying Interest on Reserves," Fiscal Studies, Institute for Fiscal Studies, vol. 34, pages 413-436, December.
    4. Carpenter, Seth & Demiralp, Selva & Eisenschmidt, Jens, 2014. "The effectiveness of non-standard monetary policy in addressing liquidity risk during the financial crisis: The experiences of the Federal Reserve and the European Central Bank," Journal of Economic Dynamics and Control, Elsevier, vol. 43(C), pages 107-129.
    5. Donald Kohn, 2013. "Federal Reserve Independence in the Aftermath of the Financial Crisis: Should We Be Worried?," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 48(2), pages 104-107, April.
    6. Yan Zhou, 2009. "International Reserves and Fiscal Policy in Developing Countries," Review of International Economics, Wiley Blackwell, vol. 17(5), pages 942-960, November.
    7. Bernd Hayo & Ali Kutan & Matthias Neuenkirch, 2015. "Financial market reaction to Federal Reserve communications: Does the global financial crisis make a difference?," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 42(1), pages 185-203, February.
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    1. repec:ers:journl:v:xx:y:2017:i:2b:p:200-223 is not listed on IDEAS

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