Finance

Stability (learning theory)

Machine learning

Monetary policy

Decentralization

Macroeconomics

Psychology

Economics

Political science

Revenue

Investment (military)

Money supply

Market economy

Computer science

Fiscal policy

Monetary economics

Economic stability

Economic system

Social psychology

Openness to experience

Politics

Problems and Perspectives in Management

The main objective of this research is to study the role and impact of fiscal decentralization on the macroeconomic stability of the country. The paper analyzes and systematizes approaches to the definition of ‘macroeconomic stability’ concept. The key factors that impact macroeconomic stability are identified. In the framework of this research, the authors identify fiscal decentralization as one of the factors affecting macroeconomic stability. To determine the strength and statistical significance of the above mentioned relationship, the authors suggest presenting macroeconomic stability as a functional dependency between macroeconomic stability and the level of fiscal decentralization, which is described by the following variables: the growth rate of money supply, investment and openness of the economy, fiscal decentralization. In this case, it is suggested to determine the level of fiscal decentralization in three directions: expenditure decentralization, revenue decentralization and expenditure decentralization simultaneously.

Fiscal decentralization and macroeconomic stability: the experience of Ukraine’s economy