Budget systems of Russia and China: issues of legal regulation

The monograph is devoted to the analysis of the patterns of development of modern legal regulation of budgetary systems in the Russian Federation and the People's Republic of China. The range of issues under study includes clarification of the structures of budget systems in selected jurisdictions, identification of the specifics of legal regulation of the formation and expenditure of extra-budgetary and budgetary funds, study of the features of the delimitation of powers of state (municipal) authorities for public finance management. A comparative analysis of the legal regulation of the budgetary systems of Russia and China is presented. For a wide range of readers interested in the issues of legal regulation of budget systems. It can be useful for students, postgraduates and teachers of law and economics universities.

Review of Russian scientific researches on Сhinese law of public finance

The article provides a systematic review of the scientific works of Russian legal scholars in the field of public finance law in China, in particular tax, budget and currency law. Today, it is premature to talk about fully functioning schools of Chinese law in the Russian legal science. However, at the same time there are examples of successfully conducted fundamental researches on Chinese public finance law. Authors have to admit that the last few years have not been marked by the appearance of any monograph on Chinese public finance law in Russia – the studies conducted today are usually devoted to specific problems and are published on the pages of the relevant journals. There are obvious reasons for this – difficulties in Chinese language learning and understanding specific Chinese legislation, which is characterized by uncertainty, ambiguity and plurality of sources of law. Existing studies can be classified into studies entirely devoted to the study of particular institutions or branches of Chinese law, and studies of a comparative nature. The article examines and systematizes the work of Soviet and Russian legal scholars devoted to various areas of research in the fields of tax, budget and currency law of China, with an assessment of their significance and contribution to the development of the relevant branch of knowledge. The materials in this article may be useful for future researches, which, in turn, can predetermine the strengthening of bilateral relations, as well as the implementation of joint investment projects. The article allows to identify unexplored areas in the considered field, thereby laying the foundation for future research. Authors note research issues that seem to be perspective based on the conducted review.

Participation of Citizens in Public Financial Decision-Making in Serbia

Participation in the local public finance decision-making process in Serbia is not a new concept as it was implemented even during the ‘Titoistic’ period. However, direct participation is still in an infant phase altogether with the low interest of citizens in participating in local financial decision-making procedures. The aim of this paper is to explain the main types of civic participation in the local financial decision-making process (i.e., referendum voting on self-imposed contribution, participatory budgeting, and civic crowdfunding) and to focus on the main factors that lead to a low participation of citizens in such processes. Additionally, the article analyses how these factors affect general mistrust in politics and society. For this purpose, a total of N=421 citizens were interviewed. Using the principal component analysis, the following three main components for low participation were defined: 1) lack of knowledge, 2) lack of interest, and 3) lack of political will. Thereafter, using the regression analysis, the study confirmed that the first two components are statistically significant predictors for mistrust in politics and society.

Task-based budget as a method of local government financial management

The aim of this article is to present task-based budgeting as a new method of public finance management: from the central budget to the budgets of the lowest level. Particular attention was paid to the aims and objectives of the budget, as well as to its performance indicators. The publication is theoretical in nature and deals with the analysis of targeted budgeting with regard to public finance, especially in the context of the central government budget.

SOCIAL SERVICE CENTERS – NEW ORGANIZATIONAL UNITS IN THE MUNICIPALITY

Social services related to activities aimed at meeting the basic needs of society are an important factor activating local communities. Commune self-governments undertook such projects on the basis of general provisions of the Act on Public Finance and commune self-government. On January 1, 2020, the Act on the provision of social services by social service centers, adopted on July 19, 2019, entered into force, specifying the scope of social services, the method of creating social service centers and their organizational structure. The study presents the basic issues concerning the definition of social services in the doctrine and in the aforementioned Act, and moreover, attention was paid to the method of establishing centers provided for by law: either as new organizational units of the commune or transforming the existing social welfare centers. Tasks in the field of social services were defined as own, non-obligatory tasks, therefore communes were left to assess the need to create such centers. The organizational structure of the center is also briefly presented, with attention being paid to the legal position of the director of the social services center

Public finance during the reign of Catherine the Great

Subject. We study the main directions and special aspects of the monetary system development during the reign of Catherine II. We discuss the monetary reform associated with the introduction of bank notes and the emergence of the banking system, as well as the creation of new financial systems. Objectives. We focus on identifying the economic reasons that propelled Catherine the Great to use a new instrument of State regulation of the financial system, on showing how the creation of the banking system, still within the conditions of serfdom, acquired its own specifics. Methods. We apply the logical, historical and diachronous approaches, economic research methods. We also use the principles of historical method, dialectics, the method of scientific abstraction and analysis, which determine the foundations of the financial reforms of Catherine the Great. Results. We revealed the role of creating the banking system and non-banking institutions during the second half of the eighteenth century, classified their types and goals, determined the main characteristics of paper money. The monetary reform of Catherine the Great, which created favorable conditions for external borrowings, ensured the recovery of public finance in general. Conclusions. The study concludes on important role of State regulation in the development of financial infrastructure, on the need to use the experience in the modern practice of private enterprise development and capital accumulation. The findings can be used in lectures and seminars for basic courses, like History of Finance and Economic History.