Conceptual framework for the budgeting mechanism of the state’s social and economic development

Анотація

The article considers some approaches of domestic and foreign scholars to the interpretation of the concept of state’s budgeting mechanism. It involves the following: a set of types, forms, methods and means through which the state establishes budgetary relations; a number of forms, methods, instruments and tools of budgeting process and using budget resources; a practical model of implementation of the state budget policy; a set of tools and methods for government regulation of social and economic development of the state. It is proposed to interpret a budgeting mechanism of the state’s socio-economic development as a set of financial forms, methods, tools, and instruments which ensure a broad range of distribution and redistribution processes; the formation and use of a centralized fund of monetary resources; functioning of the budget system in general and implementation of the budget policy aimed at socio-economic development of the state. The budgeting mechanism of the state’s socio-economic development is viewed through ontological considerations. Taking into account some peculiarities of budgetary relations, two components are highlighted: the mechanism of budgeting process and the mechanism of using budget resources. It is found that the key aspects of functioning and the role of budgeting mechanism in regulating social and economic processes depend on a combination of elements of both components: methods, forms, tools and instruments. Similiarities and differences of financial and budgeting mechanisms of the state are outlined, which provide grounds for interpreting the budgeting mechanism as a special type of financial mechanisms.

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