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Согласованная налогово - бюджетная политика стран БРИКС // Consensual Budgetary and Fiscal Policy of BRICS

Author

Listed:
  • М. Zharikov V.

    (Financial University)

  • М. Жариков В.

    (Финансовый университет)

Abstract

The research is relevant as it defnes the optimal level of taxation for the BRCS members in the frames of consensual tax, budgetary and fscal policy in order to achieve the sustainable rate of economic growth, balanced development, moderate rates of inflation, high volume of production, balance of current account and low unemployment. The development of the BRICS countries as a new model of integration and inclusive development in the globalizing economy requires consensual macroeconomic policy. The author hypothesizes that consensual macroeconomic (tax and budgetary policy) may contribute to the harmonization of national economies of the BRICS members by parameters of an integration model proposed in the article. As a result of economic and mathematical modeling there were drafted the curves of the BRICS members’ budget revenue and expenditure. The author identifes the optimal weighted average tax rates to establish the balance. The graphic method is used to demonstrate the influence of tax, budgetary and fscal policy of the BRICS members on national economies and combined effect of its implementation. The practical importance of the research lies in identifying the optimal level of taxation which makes it possible to balance the BRICS members’ budgets. The calculation of the effectiveness of consensual tax, budgetary and fscal policy of the BRICS members is made on the basis of comparative analysis of the variants of fnancing the budget defcit by own means and the sources of hypothetical common debt market. The article proves that functioning of common market of debt fnance is optimal for the BRICS members on condition of using comparative advantage of China in providing credit resources to the members of the group. The theoretical signifcance of the results is the development of the methodology of harmonization of tax, budgetary and fscal policy of the BRICS members using gradual approach as opposite to “shock therapy” scenario. Актуальность исследования заключается в установлении оптимального уровня налогообложения для стран БРИКС в рамках согласованной налогово-бюджетной и фискальной политики с целью достижения стабильных темпов экономического роста, сбалансированного развития, умеренных темпов инфляции, высоких объемов промышленного производства, баланса текущего счета и низкой безработицы. Развитие стран БРИКС как новой модели интеграции и инклюзивного развития в глобализирующейся экономике требует согласованной макроэкономической политики. Выдвинута гипотеза, в соответствии с которой согласованная макроэкономическая (налогово-бюджетная) политика может способствовать гармонизации национальных экономик стран БРИКС по предложенным параметрам модели интеграции. На основе экономико-математического моделирования построены кривые доходов и расходов бюджетов стран БРИКС, установлены оптимальные средневзвешенные ставки налогообложения, при которых достигается баланс. Применен графический метод, характеризующий влияние инструментов налогово-бюджетной и фискальной политики стран БРИКС на национальную экономику и совокупный результат ее функционирования. Практическая значимость работы состоит в выявлении оптимального уровня налогообложения, позволяющего балансировать бюджеты стран БРИКС. Проведен расчет эффективности согласованной налогово-бюджетной и фискальной политики стран БРИКС на основе сравнительного анализа вариантов финансирования дефицита бюджета за счет собственных средств и источников гипотетического общего рынка долга. Доказано, что функционирование общего рынка долгового финансирования является оптимальным для стран БРИКС при условии использования сравнительных преимуществ Китая в предоставлении кредитных ресурсов членам группировки. Теоретическая значимость результатов заключается в разработке методологии гармонизации налогово-бюджетной и фискальной политики стран БРИКС на основе градуалистского подхода в противоположность сценарию «шоковой терапии».

Suggested Citation

  • М. Zharikov V. & М. Жариков В., 2018. "Согласованная налогово - бюджетная политика стран БРИКС // Consensual Budgetary and Fiscal Policy of BRICS," Учет. Анализ. Аудит // Accounting. Analysis. Auditing, ФГОБУВО "Финансовый университет при Правительстве Российской Федерации" // Financial University under The Government of Russian Federation, vol. 5(6), pages 28-36.
  • Handle: RePEc:scn:accntn:y:2018:i:6:p:28-36
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