THE MAIN THEORIES AND MODELS OF LOCAL FINANCE

The subject of this work are historical theories and contemporary models of local finance in different countries, their specifics and also the basic principles for the distribution of financial resources among different levels of government. The aim of the research is a generalization, systematization and comparison of the main features of the historical theories and contemporary models of local finance. The methodology of work. The work is done on the research results of modern domestic and foreign views on the major theories and models of local finance. The study used the following research methods: secondary observation, analysis, synthesis, induction, deduction etc. The result of work is a scientific article that mirrored the analysis of the main features of the historical theories and contemporary models of local finance in different countries. The scope of the results. The complexity of the functioning of modern Ukrainian management system are as irrational use of available financial resources due to the imperfect organization of local Finance and their relations with the center. The results can be used in the formation of a new concept of local finance of Ukraine that would meet the needs of local communities, and was also effective for central management. Conclusions. Almost all countries in the organization of the financial activities of local governments based on the principle of the need to ensure local authorities have sufficient financial resources to carry out their powers and the independent decision of questions of local value. For the formation of a new concept of local finance of Ukraine it is necessary to use the experience of foreign countries in the use of historical theories, the creation and functioning of effective models of local finance.