THE CYCLICAL ADJUSTMENT OF PUBLIC FINANCE AND RELATED EXTERNALITIES IN CONVERGED FINANCIAL SYSTEMS
Анотація
The article deals with the theoretical approaches to the typology of economic cycles. Particular focus is given to the nature of the financial crisis and related considerations. The author arrived at the conclusion about the significance of external factors influencing the development of public finance in the age of globalizing national financial systems. Keywords: financial system; globalization; public finance; economic cycles; phase of the cycle; countercyclical fiscal policy.
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