Blockchain Papers

Jan Herczyński

No abstract is available for this record.

Leonel Muinelo‐Gallo, Adrián Rodríguez Miranda

The purpose of this work is to reflect on the relationship between subnational finance and the capabilities for regional economic development in Uruguay. It presents rigorous evidence of recent work on the relationships between fiscal decentralization, intergovernmental transfers and regional disparities in Uruguay. This is analyzed together with new available information on the evolution of subnational finances and a critical analysis of the productive policies developed in the country. It seeks to contribute to the current debate on the relationships between territorial development, decentralization and the role of public policy to reduce regional disparities. In this regard, it is concluded that these challenges require a better financing scheme for local development, with greater management capacity for decision-making at the local level. For this, as a prerequisite, it is urgent to improve the technical and management capacities of subnational governments.

Valentina Derbeneva

An urgent task today is to strengthen the importance of property taxation, measured not only by quantitative indicators, but also by the correct perception of tax by local authorities. The scope of the research is the development of the process of fiscal decentralization in Russia. The subject of the study is the relationship of the principle of benefits in property taxation with the process of fiscal decentralization at a local and regional level. The employed research methods include logical analysis, the descriptive method and systematic presentation of the results of statistical analysis. The aim of the article is to study the importance of property taxes for the implementation of fiscal decentralization in Russia. As a result of the calculations, it was concluded that there is a tendency toward an increased financial dependence of local governments and increased centralization at the local level. It is shown that increasing transfer dependence and increasing centralization at the level of administrative centers of the regions while reducing gratuitous assistance at the regional level indicates a concentration of resources around the regional capitals and a decrease in financial support for smaller areas. The author proposes that the benefit principle in the property taxation system in Russia should be introduced and proves the possibility of doing that. The principle implies the transfer of property taxes to the targeted category, when tax revenues are directed toward specific items of municipal expenditures. The ultimate goal of introducing the principle of benefit is to increase the responsibility of local authorities regarding the efficient provision of municipal public goods, highlight the importance of property taxes and strengthen fiscal decentralization at the local level. To determine the potential ability of property taxes to fulfill the target function, a ratio of municipalities’ fiscal self-sufficiency was proposed and calculated, which allows one to determine the share of net expenditures of budgets subject to financing with property tax. The input data for the study was borrowed from statistical data on the execution of regional and local budgets, as well as tax revenue reports of tax authorities.

Yichen Ouyang

The real estate industry has been one of China’s pillar industries over the last two decades, but soaring housing prices and overheated investments have hindered the sustainable development of the economy. Land transfer fee is a critical determinant of housing prices under the current land reserve system in China and also the main revenue resource for local governments. The reliance of local governments on land-leasing fees as their dominant source of revenue is usually referred as “land finance”, which started from fiscal decentralization and tax sharing reform in 1990s and created a mismatch between revenue distribution and expenditure responsibility for local governments. Therefore, against the background of tax sharing reform, this study analyzes the hypothesis that the degree of fiscal decentralization and the land finance phenomenon are important factors causing China’s soaring housing prices. In addition, land finance is the intermediate variable linking tax reform and high housing prices. Using panel data covering 31 provinces and municipality cities in China from 2000 to 2009, the research finds that enlarged fiscal decentralization caused by the reform of the tax-sharing system is an indispensable institutional factor leading to the rapid rise of housing prices. This study presents a comprehensive influence mechanism of fiscal decentralization on housing price, contributing to the understanding of local governments’ behavior and provides recommendations for the future urban development.

Beata Guziejewska, Joanna Działo

The ongoing processes of decentralization, which are present in many countries, cause a growing proportion of public funds to be collected and spent at the local government tier, which necessitates the use of fiscal rules not only at the state level. This issue may raise some controversy due to the specific character, autonomy and empowerment of local government and local communities. Therefore, the analysed subject is based on three questions: 1. Limited fiscal autonomy of local self-government and it's consequences 2. A real need for and the scope of the use of fiscal rules in local government finance, 3. The informal factors that directly determine the indebtedness in local governments in the light of literature and selected empirical research. We use a descriptive method supported by an analysis of financial data and a case study as it presents selected aspects of Polish experience in the subject matter. The results of the analysis seem to point to the necessity of the use of fiscal rules in local government finance, which paradoxically strengthens the processes of decentralization, democratization, technological advancement and globalization. Some primary results of our research indicate investment expenditure, own revenues, number of companies (level of GDP) and election cycle as important, significant factors (in statistical meaning) effecting the local deficit and debt. The conclusions list the advantages of the use of fiscal rules at the local government tier and large diversity of informal conditions across the whole country.

Madhurima Koley, Kumarjit Mandal

No abstract is available for this record.

Blanca Avellón Naranjo

Resumen:En este trabajo se mide el desempeño de la gestión tributaria española, para 2004-2015, mediante un análisis envolvente de datos, de dos etapas. En la primera, se estiman los indicadores de eficiencia, de las Delegaciones territoriales, correspondientes a las CCAA de régimen común; que por término medio alcanza el 85 %. En la segunda etapa, mediante el modelo de regresión censurado, se identifica una relación significativa de la eficiencia, con el PIB y con el nivel de educación. Adicionalmente, mediante la regresión logística, se establece la probabilidad de ser eficiente, a partir de los valores futuros de las variables ambientales.Abstract:Introduction The function carried out by the tax public Administration, which consists in obtaining resources with which to finance the public Sector, must be carried out in an efficient manner to legitimize its actions over time and to encourage the fulfillment of obligations of the taxpayers. The application of the spanish tax regimen in the decentralized field, has gained an important role as a result of the strong process of delegation of the public actions, entrusted to the Autonomous Communities, initiated with the Constitution spanish of 1978. Therefore, in this paper we measure the performance of the tax management carried out by the territorial Delegations of the spanish autonomic tax administration, for the period 2004-2015, by means of a semi-parametric analysis of two stages. The aims of the research are to estimate the levels of relative technical efficiency, reached by the territorial delegations, in the management of the taxes with the most important incomes. These taxes are the property tax, the inheritance and donations tax, the tax on onerous patrimonial transmissions and documented legal acts; and the taxes on the game. The tax collection obtained by the previous taxes, represent in 2014, 77% of the collection obtained by the taxes with tax autonomy, wich managed by the autonomous regions. Also, the research aims to identify the factors that cause efficiency levels, by means of parametric regression techniques. Methodology This study uses a semi-parametric methodology of two stages, which consists in applying, in a first stage, the data enveloping analysis -DEA- of Charnes, Cooper and Rhodes (1978), to estimate the levels of technical efficiency relative, of the 46 territorial Delegations, corresponding to the 15 spanish autonomous regions, financed by the common regimen. The variables used in the research are obtained from the General Budgets of the State. An entry is used, which is the personnel that carries out the management of the transferred taxes. As well as 5 outputs that are, the number of records instructed, the number of providences issued, the number of complementary liquidations of the property tax, the number of autoliquidations sent of the tax on onerous patrimonial transmissions and documented legal acts, the number of files sent of the inheritance and donations tax; and the number of self-liquidations presented by automatic machines and devices. These variables are representative of the functions that compose the tax procedures carried out by the autonomous tax administrations in the management of the ceded taxes, which are the management, the fundraising, the inspection and the application of the sanctioning regime. In the second stage, through the Tobit regression model (Tobin, 1958), the environmental factors that affect the efficiency levels are identified. The model dependent variable is the level of efficiency obtained in the first stage of the investigation. The returns considered in the study are the environmental factors that represent the economic context, measured by GDP per capita and with the number of mortgages constituted; the situation of fiscal policy, measured with public debt as a percentage of GDP; the social context, determined by potential contributors and with the level of training achieved by society; the geographical environment, measured with the km2 of the regions; the legislation in force in the period of analysis, established by organic law 3/2009 of 18 December, on the financing of the autonomous Communities; and the form of organization of the tax management, carried out through a tax Administration or through an autonomous tax Agency. Additionally, through the binary logistic regression model, a predictive model is established that reports the probability that the autonomous public administration will be efficient, based on the future values of the environmental variables, wich are significant in the study. Main results The results of the DEA show an average technical efficiency in the tax management of 85%, for the 2004-2015. This means that for the autonomous tax administrations to achieve optimal behaviors with the amount of work factor used, they should expand their outputs radially by 17.64%. In addition, the minimum level of technical efficiency obtained is 33%, which is reached by the territorial delegation of Ourense. Also, the results show a tendency of the average technical efficiency decreasing, during the 12 years of the period analyzed. The Tobit model determines a significant direct relationship of efficiency with GDP and the level of higher education obtained by the population. It is to be hoped that greater tax capacity of the region will achieve a higher level of efficiency. Also, there is a inverse significant relationship between efficiency and the variables public debt and km2. This implies that a lower level of efficiency in management could lead to lower levels of tax revenue. This deficit could be financed with higher levels of public debt. For its part, a greater extension of the territory where the management is carried out, can produce more efforts by the tax managers, reducing their levels of efficiency. Conclusions In this paper we study the tax management of spanish regional territorial Delegations during the 2004-2015. The technical efficiency levels estimated with the DEA are 85%, on average. The delegations that are considered reference for the remainder in each of the 12 years of study are, Salamanca in 2004, Asturias and Ciudad Real in 2005, Asturias in 2006, Asturias in 2007, Madrid in 2008, Madrid in 2009, la Rioja in 2010, Tarragona in 2011, Barcelona in 2012, Segovia and Valencia in 2013, Barcelona and Málaga in 2014; and Malaga in 2015. According to Tobit's regression, the variables that denote direct significance with efficiency are the GDP and the higher education level reached by the population. The factors that have an inverse significance with efficiency are the public debt and the geographical extension, measured with the km2 of the regions.

Marija Pešović

The subject of this paper is city municipalities, one of the forms of local government at the lowest level in cities. The process of urbanization, the expansion of cities and the emergence of new ones, creates the need for internal decentralization. Decentralization comes when there is a need and it is estimated that another, lower level of government will perform more efficiently certain jobs. Due to the large number of inhabitants and the growing territory, the big cities are often organized two-step. Municipalities are the result of decentralization and are part of the territorial organization of cities. Although they are not units of local self-government, they have their own administration and affairs delegated by the city government from its own competencies. The regulation of city municipalities, their jobs and the way of financing, as well as a review of comparative solutions in the region, are the main issues discussed in this paper.

Raúl García-Gómez, Jorge Onrubia, Antonio Jesús Sánchez Fuentes

Efficient use of public resources is clearly a relevant issue to be studied from several points of view. Among others, it accounts for a significant share of the total economy activity and it deals with non market oriented activities. In Spain, the regional level is particularly relevant due to the progressive decentralization during the 200s of key public policies constituting the welfare state (as education, health, etc.). Consequently,it increased notably their financing needs but affecting asymmetrically because of the important differences in their fiscal capacity. Moreover, they mostly share (15 of 17) a common financing system in which an efficient use of resources is assumed but not evaluated. Our results show that normally a few of the regions tend to be the top performers, but there no regions performing poorly in every aspect. It is also worth noting that no dramatic changes can be seen in terms both of expenditure and performance during the recent Great Recession.

Melchor Dioso, Jr. Wenceslao M. Paguia

In 1986, the Filipino people made history by overthrowing the 13-year Marcos dictatorship through a peaceful people power revolution. As a result, the country restored democracy and free elections through the 1987 Constitution which promised to empower citizens and Local Government Units (LGUs). Decentralization and local autonomy were further enhanced to put greater freedom and autonomous powers to local governments. However, it was the shortcomings of decentralization that paved the way for the interest of conversion to federalism. Thus, the present administration of the Philippine government has planned to convert the country's political system from democratic to federal. The study employed descriptive research design. The 58 local government officials in SAMARICA area were purposively selected. It includes the municipality of San Jose, Magsaysay, Rizal, and Calintaan in the province of Occidental Mindoro. The instrument underwent validity procedures and in the reliability test, it was found reliable. Result shows that the local government officials are middle-aged, male, and college graduate. In addition, they are the only politician in the family, members of the Liberal party, and councilors serving in the third class municipalities with short political experience. Lastly, officials have been attending seminars and trainings in the national level with few membership in organizations. The officials are "moderately perceptive" about the issues surrounding the proposed federal system of government. There is a significant difference in the respondents' perspectives when they are grouped based on age, the class of municipality, position, and attended seminars and trainings.

Elena Ryabova

The paper is devoted to the issue of centralization in public finance in Russia, and highlights one of the problems of interpretation of the Russian Constitution clauses. The Rulings of the Russian Federation Constitutional Court from the period 1997–2006 created legal grounds for the process of centralization and reduction of the regional powers regarding budgeting and taxation. But all arguments of the Court are debatable. Wherein, the centralization is justified by the constitutional principle of uniform economic area. The author argues that the Russian Constitution does not have clauses establishing the uniform budget and tax systems directly, and any model of intergovernmental relations might comply with the Russian Constitution. Uniformity of economic area does not imply uniformity in taxation and budgeting in the sense of sameness. Study of foreign practices shows different approaches to the understanding of uniformity in economy, and in taxation and budgeting. The contemporary Russian public finance law is formed under the influence of the Constitutional Court’s legal positions, and the process of centralization is still evolving. The Russian history of intergovernmental relations (1991–1997) shows another model of fiscal federalism – the decentralized federalism. Replacement of the fiscal federalism models is determined by the political considerations, not by constitutional requirements.

Jeremy Gorelick

Cities across sub-Saharan Africa are faced with challenges in urban planning and service delivery due to insufficient capital for long-term investment projects. Despite the success of municipal bonds as a tool to assist in closing this financing gap in much of the rest of the world, there have been limited examples of success in this region. This study looks at the universal obstacles limiting sub-national governments from using municipal bonds as a financial instrument before examining four case studies - Johannesburg, Douala, Dakar and Kampala - to better understand their approaches to municipal bond issuance. Based on the findings from research, the thesis concludes that the chief obstacle blocking the uptake of municipal bond issuance as a means for raising funds stems from a variety of elements in the constitutional and regulatory systems in each country. This represents a significant departure from the commonly-held understandings that cities in the region are not eligible for long-term debt and are ill-managed, lack capacity, or are not viewed as creditworthy by institutional investors and other purchasers of municipal bonds. The success of municipal bond issuance appears to be contingent on strong interlinkages between central and subnational governments. This dissertation offers a critical review of the explicit and implicit powers granted to local governments under the constitutions of each of the countries, specifically the legislation that enables or prohibits municipalities from issuing bonds. Reform to the existing regulatory and legal environments across the African continent, ones that govern a financially-sustainable level of indebtedness for sub-sovereign governments, is an essential step in ensuring the future growth of Africa’s cities.

Harry Kitchen, Melville McMillan, Anwar Shah

No abstract is available for this record.

Stephanie Armbruster, Beat Hintermann

We analyze the strategic interaction of regional and federal governments using a model that includes fiscal externalities in the form of inter-regional capital tax competition and technical externalities in the form of inter-regional spillovers. The federal government aims to correct for these inefficiencies using a transfer system. If the regional governments are policy leaders (such that federal policy is set conditional on regional choices), they will internalize both fiscal and technical externalities but free-ride on the transfer system. Efficiency can be achieved by introducing a second transfer scheme that is independent of regional public production. If the federal government sets its policy first and can commit itself to it, the outcome is efficient only if matching grants are used that are financed outside of the transfer system.

Natalia Ivanova, Galina Morunova, Vitaliy Fedosov, Svetlana Kuzmina

In this article, the authors consider issues of fiscal decentralization in the context of sustainable development of territories, justify the development trends of the world community in providing public goods for the population. The analysis of this issues is carried out in comparison of indicators for Russia and the countries of the Organization for Economic Cooperation and Development (OECD). This allows assessing the current level of fiscal decentralization in the world community, in Russia, and also determining its prospects. The authors presented the results of the study, which contain the dynamics of subnational budgets of Russia and OECD countries, separately identified local budgets, the dynamics of financing of proactive budgeting, the typology of the main projects of proactive budgeting, examples of municipal-private partnership projects implemented in Russia. In addition, the article sets out new approaches to the financial support of local government activities in the country, based on the introduction of self-taxation, bond loans and other forms of financing at the municipal level.

Tristán Canare, Jamil Paolo Francisco, Rose Ann Camille Caliso

Abstract Decentralization has been a common public finance reform among developing countries in the past few decades. Some advocates pushed for decentralization reform as an answer to the growing problem of income inequality. The primary argument for decentralization is that subnational governments have better information on the needs and preferences of local citizens, while the primary argument against it is that the central government has better economies of scale in delivering public services and usually has better access to important resources. This study tested for the relationship between decentralization and income inequality using both panel data and an annual averaged cross‐section data of countries with varying income levels. The results suggest that revenue decentralization is weakly associated with lower income inequality. In addition, there is also a weak evidence that fiscal independence is associated with higher income inequality, although this is moderated by government effectiveness. Expenditure decentralization has no significant relationship with inequality. © 2020 John Wiley & Sons, Ltd.

Daniel Hellwig, Goran Karlic, Arnd Huchzermeier

Decentralized finance has evolved as a major contender for traditional banking systems over the last few years. Evolution in blockchain and cryptography technologies are the driving forces for decentralized finance’s growth. The emergence of Bitcoin in the finance system was a major driving force toward the tremendous growth of decentralized finance. However, with various platforms merging every day, the decentralized finance sector is still in its early, unorganized stages. The current decentralized finance market is chaotic. With a new “coin” being introduced almost every month, standardization is highly lacking in the system. DeFi already has several different applications available. For instance, one can purchase stable coins, or assets pegged to a national currency, on decentralized exchanges, move the assets to a lending platform that is also decentralized to earn interest, and then add the interest-earning instruments to a decentralized liquidity pool or an on-chain investment fund. DeFi enterprises frequently aim at decentralized decision-making, or governance, in everything from the user fees to the products they provide. A decentralized program may be started by one person or a small number of individuals, but as the project gathers traction, its leaders frequently try to step down and cede control to the user base. A decentralized autonomous organization that has its rules and regulations written into computer code and that may issue governance tokens, which allow its holders a voice in decisions rather than allowing the decision-making to a centralized government authority as in case of traditional finance, could represent this transition. While on one side, world governments are still trying to grasp and regulate the sector, on the other side, the technology’s reach has been very limited. Undoubtedly, the emergence of blockchain-based decentralized finance is massively influencing our current finance technology industry. In this chapter, we discuss the current growth in the FinTech industry and the blockchain-based decentralized finance sector. Furthermore, we discuss how decentralized finance can be used in the current FinTech industry.

Marina Zahari, Syamsurijal Tan, Haryadi Haryadi, Syaparuddin Syaparuddin

The fiscal decentralization policy has made local governments have the authority to generate income and manage regional finance independently for public services and public welfare. This study aims to: 1) Analyze the degree of fiscal decentralization in Jambi Province; 2) Analyzing community welfare proxied from the human development index in Jambi Province; 3) Analyzing the impact of fiscal decentralization on the welfare of the community in Jambi Province. This study using panel data, a combination of time series data in 2010-2016 and cross section 11 districts/cities in Jambi Province. The method of data analysis is descriptive analysis and panel data regression analysis approach, namely the fixed effect model (FEM). Hypothesis testing uses the F test statistic and the statistical t test. The results showed that: 1) The degree of fiscal decentralization, namely the ratio of district own source revenue (PAD) to total regional income (TPD) in each district/city in Jambi Province was relatively relatively low, whereas for Jambi Province it was in good category; 2) Community welfare as illustrated by the human development index in each district/city including Jambi Province is still in the moderate category, except Jambi City (76.14) and Sungai Penuh City (73.35) are categorized as high; 3) Fiscal decentralization has a positive and significant impact on improving community welfare. it means that the better the implementation of fiscal decentralization, the higher the level of community welfare.

Ahmad Sholikin

Without much preparation, Indonesia in 2000 the new system replaced the previous centralized governance system and development planning with various decentralization programs. The reforms gave greater authority, political power, and financial resources directly to districts and cities, through the provinces. Strengths transferred include those who carry out various responsibilities in the fields of health, primary and secondary education, public works, environment, communication, transportation, agriculture, manufacturing, and other economic sectors. At the same time, the government replaced the cash-based public finance system, a single-entry financial system with a modern double-entry accounting system that uses one treasury account; based on performance; and has transparent public cash management, strict expenditure and financial controls with performance indicators, computerized reporting, and a tightly scheduled audit system.

Olena Chygryn, Yuriy Petrushenko, Alina Vysochyna, Анна Воронцова

Testing the hypothesis of FD's positive influence on different parameters of social and economic development was realized on the base of panel data analysis for the set of European countries (Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Macedonia, Moldova, Montenegro, Romania, Serbia, Slovenia, Turkey and Ukraine). Methodologically it was realized through the using of panel data regression model (independent variablesmeasures of fiscal decentralization, dependent variablesmeasures of social or economic development) in Stata 12/SE. This research allowed to confirm the hypothesis on positive impact of different measures of fiscal decentralization on GDP, GDP growth rate, foreign direct investments, and social contributions. Nevertheless, negative impact of fiscal decentralization on GNI per capita and export of goods and services was found. Besides, increase of public finance centralization stimulates inflation. There was identified controversial impact of different parameters of fiscal decentralization on dynamic of import of goods and services, accordingly.

Daniela Pîrvu, Claudia Stanciu-Tolea

The local government administrations in Romania have become more visible for taxpayers lately, once the decentralization process has developed. The interest in knowing how local government resources are used has increased, especially after diversifying and increasing funding sources. The present paper presents a detailed analysis of the public revenues and expenditures for the territorial administrative units in Romania. A number of local public finance problems are highlighted: the decrease of public investment, the budget imbalances, the increase of transfers from the state budget, etc., which have been worsened by some legislative changes in recent years.

문병효

No abstract is available for this record.

Світлана Бойко, Lada Shіrіnyan

The purpose of the study is to investigate a financial component of interbudget relations in Ukraine in part of providing and improving the horizontal equalization of regional budgets under the conditions of decentralization. We aim to measure horizontal fiscal imbalance in Ukraine before and after implementation of the decentralization reform: the changes in the horizontal levelling of regional budgets in pre-reform period and during a period of budgetary decentralization. The methodology of the research is based on the theory of public finance, in particular on the theory of fiscal federalism. Study uses the estimation of the statistical data of the authorized bodies related to the distribution of the state budget funds over the regions of Ukraine. The time interval of the research is four years (2015-2018) due to the starting time of implementation of the decentralization reform in Ukraine and the availability of published statistical information. Software packages MS Excel 2016 and SSPSS Statistics 17.0, StatGraphics Plus 5.0 are used for economic-statistical calculations. Such analysis is conducted using the methods of synthesis, tabular, graphic, cluster and correlation analysis. The constrains of the study are related to the incomplete statistical data of the State Statistics Service of Ukraine, the State Treasury Service of Ukraine and the Ministry of Finance of Ukraine. Results. It is proved that the equalization subsidy was the main tool for equalizing of the revenue part of local budgets. It formed about a quarter of revenue of local budgets and about half of official transfers of local budgets. It is found out that horizontal imbalance is much lower after the decentralization reform in Ukraine: after reforming the horizontal equalization, the absolute volume of the horizontal equalization decreased by 11.5 times, relative indicators decreased by 15 times. A detailed analysis reveals the existence of imbalances in the horizontal equalization of regional budgets in Ukraine in 2015-2018. Furthermore, the present system of horizontal equalization is ineffective according to the criterion of fiscal efficiency and contradicts a basic approach of budget decentralization. Four budget clusters are identified based on the criterion of distribution of basic subsidy: 1-st cluster of budgets with average size of basic subsidy (budgets of Vinnytsia, Zhytomyr, Chernigiv, Kirovograd, Khmelnytsky, Mykolayiv and Cherkasy regions); 2-nd cluster of budgets with minimum amounts of basic subsidy (budgets of Luhansk and Sumy regions), and with the change of directions of horizontal equalizationts (budgets of Donetsk, Kharkiv, Odesa and Lviv regions); 3-rd cluster of budgets with maximum size of the basic subsidy (regional budgets of Volyn, Rivne, Kherson, Ivano-Frankivsk, Ternopil, Zakarpattia and Chernivtsi regions); 4-th cluster of budgets of those who transfered a reverse grant to the State Budget of Ukraine (budgets of Dnipropetrovsk, Zaporizhzhia, Kyiv and Poltava regions). Practical meaning. The directions of improvement of the horizontal equalization of regional budgets in Ukraine are substantiated, among them: introduction of the index of horizontal equalization; constance of approaches to horizontal equalization for three years according to requirements of medium-term budget planning and sustainable development of regions; extending the interval of the index of horizontal levelling. The prospects for further study are related to the justification of the mechanism of financial provision of local government in the context of implementation policy of decentralization.

Аліна Корбутяк, Nataliya Sokrovolska

У статті розглянуто особливості фінансової децентралізації в Україні. Досліджено повноваження отримані органами місцевого самоврядування для надання якісних та доступних суспільних послуг громадянам. Також, охарактеризовано відповідальність органів місцевого самоврядування перед виборцями – за ефективність своєї роботи, а перед державою – за її законність. Крім того, досліджено основні джерела ресурсів об’єднаних територіальних громад та проведено групування за критеріями їх сутності та ролі у формуванні конкурентних переваг. Проаналізовано фінансову спроможність громад. Визначено, інші інструменти забезпечення економічного розвитку громади, зокрема, здійснення зовнішніх запозичень, самостійне обрання установ з обслуговування коштів місцевих бюджетів відносно розвитку та власних надходжень бюджетних установ, сформовано теоретико-методологічні положення, які можуть бути покладені в основу сучасної системи управління ресурсоефективністю територіальних громад. Доведено, що добровільно об’єднані територіальні громади мають усі можливості й ресурси для повноцінного функціонування та розвитку. Сьогодні органи місцевої влади беруть на себе цілковиту відповідальність за всі сфери життя на власних територіях, що і є показником успішної й доцільної діяльності ОТГ. Визначено, що за умови добросовісного виконання зобов’язань, підвищується ефективність використання бюджетних коштів, а це – прямий і правильний шлях до стабілізації соціально-економічної ситуації в усій країні. Визначено проблеми з якими стикаються місцеві органи влади на шляху до децентралізації. Проведено аналіз видаткових повноважень органів місцевого самоврядування у сучасних реаліях.