FINANCIAL POLICY IN ADVANCED AND TRANSITIONAL ECONOMIES

The research subject contains the set of questions in the area of formation and realization of public financial policy as a factor for providing social and economic development. The article purpose is to generalize and systemize the experience of formation financial policy in advanced and transitional economies. The research methodology. In the investigation author used the set of scientific methods, such as structural, systematic, comparable and factor analysis method. Results. Measures of budgetary and monetary policy, which are realized in advanced and transitional economies, are systematized. Features of implementation of fiscal policy in European Union in the recession and the period of further economic recovery are defined. Author also investigated the mechanism of non-traditional monetary regulation. Scope of results. State financial policy and instruments of policy implementation. Conclusion. Article focuses on question of defining the priority directions public financial policy in advanced and transitional economies. The main of these are: increasing the efficiency of tax system, raising the quality of public finance management, improving the mechanism of budget planning and forecasting, decreasing the level of structural budget deficit, optimizing the structure of budget spending. In the area of monetary regulation determined the basic measures, that using in the advanced economies. In order to regain trust to domestic financial market advanced countries provides the inclusive measures, which contains reducing the official discount rate, providing recapitalization of particular financial institutions and organizations, increasing level of public investment into financial sector of economy, providing the efficient policy in the sphere of insurance financial risks.