PECULIARITIES OF FISCAL REGULATION IN CRISIS ECONOMY

The article covers the problems of peculiarities of implementing the fi scal policy in regard to a new institutional mechanism ? fi scal rules and regulations that can prevent the debt crisis and strengthen the fi scal discipline. The experience of USA, Japan, and EU countries in the realization of fi scal policy based on fi scal rules and regulations has been analyzed. The relevance of implementing fi scal policy in a crisis economy through “institutional arrangement” of fi scal rules into legal procedures of debt and fi scal strategy has been grounded. Author states, that alternative measures of post-crisis recovery of the economy (infl ation tax defaults) contain no less contradictory socio-economic consequences.