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Economic Crisis and the New Paradigm of Public Support of the Patronized Goods

Author

Listed:
  • Rubinstein, A.

    (Institute of Economics, Russian Academy of Sciences; State Institute of Art, Moscow, Russia)

Abstract

In this paper, we propose a new model of economic regulation of the patronized goods in the humanitarian sector of the economy, aimed at increasing the sustainability of the financial position of organizations of culture, science, and education and at reduction of their dependence on conjunctural, or opportunistic, decisions of the economic departments. The basis of this model is composed of three mechanisms of public support: 1) a system of financial performance standards that characterizes a minimum share of budget expenditures on the production of the appropriate types of patronized goods, reflecting state commitments to their accessibility for the population and the remuneration of labor of workers of culture, science and education; 2) the institution of individual budget appropriations which implements the right of citizens' participation in the selection of areas, or directions of spending a limited part of state income tax; 3) a system of endowment funds, allowing to accumulate receipts from the individual budget appropriations and labeled taxes, in order to extract the increasing investment income from the target capital, or the endowment, which is an additional source of financial support for the patronized goods in the humanitarian sector of the economy.

Suggested Citation

  • Rubinstein, A., 2015. "Economic Crisis and the New Paradigm of Public Support of the Patronized Goods," Journal of the New Economic Association, New Economic Association, vol. 26(2), pages 264-269.
    • Handle: RePEc:nea:journl:y:2015:i:26:p:264-269
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    References listed on IDEAS

    as
    1. Polterovich, Victor & Popov, Vladimir & Tonis, Alexander, 2009. "Instability of Democracy as Resource Curse," MPRA Paper 22069, University Library of Munich, Germany.
    2. Khaunina, E., 2012. "Percentage Philanthropy as Additional Financial Resource for Social and Cultural Sphere," Journal of the New Economic Association, New Economic Association, vol. 14(2), pages 141-143.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    patronized goods; public support; budgetary regulations; the institution of individual budget appropriations; endowment funds; labeled taxes;
    All these keywords.

    JEL classification:

    • H80 - Public Economics - - Miscellaneous Issues - - - General
    • I20 - Health, Education, and Welfare - - Education - - - General
    • I22 - Health, Education, and Welfare - - Education - - - Educational Finance; Financial Aid
    • Z11 - Other Special Topics - - Cultural Economics - - - Economics of the Arts and Literature
    • Z18 - Other Special Topics - - Cultural Economics - - - Public Policy

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