Financial Analytics: Science and Experience
 

Functions of public and municipal finance and the update of financial instruments in modern conditions

Vol. 11, Iss. 1, FEBRUARY 2018

Received: 12 October 2017

Received in revised form: 14 November 2017

Accepted: 21 November 2017

Available online: 1 March 2018

Subject Heading: Economic policy

JEL Classification: 

Pages: 77–86

https://doi.org/10.24891/fa.11.1.77

Malinovskaya O.V. Admiral Makarov State University of Maritime and Inland Shipping, St. Petersburg, Russian Federation
ifinansy@yandex.ru

ORCID id: not available

Skobeleva I.P. Admiral Makarov State University of Maritime and Inland Shipping, St. Petersburg, Russian Federation
SkobelevaIP@gumrf.ru

ORCID id: not available

Brovkina A.V. Admiral Makarov State University of Maritime and Inland Shipping, St. Petersburg, Russian Federation
brovkinaav@mail.ru

ORCID id: not available

Importance This article identifies problems in the modern practice of realization of functions of public and municipal finances. It considers the U.S. experience in implementation of the re-distributive function of finance and organization of the developed system of social assistance to the population.
Objectives The article aims to assess the performance of the main functions of public and municipal finance in the Russian Federation in modern conditions and compare this with the performance of functions based on the Anglo-Saxon model.
Methods The research relies upon the systems approach as well as the abstraction and logical, and comparative analyses.
Results The work provides certain results of assessment of the effectiveness of public and municipal finance functions. It also helps choose the tools that influence the living standard of the population.
Conclusions The article draws a conclusion about objectivity and permanence of public and municipal finance functions, on the one hand, and dependence of a choice of financial policy instruments on preferences of the business elite, on the other hand.

Keywords: function, public, municipal, finance, policy instrument

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ISSN 2311-8768 (Online)
ISSN 2073-4484 (Print)

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