Government financial accountability: key problems and main trends in post-communist countries

Abstract

The article deals with the problems of government financial accountability in post-communist countries. The purpose of the article is to justify the necessity of government financial accountability development, especially in post-communist countries. Several research methods were used. First of all, the positive economic approach was used to describe the main ideas of government financial accounting and account- ability. Secondly, Worldwide Governance Indicators were used to prove the necessity of government financial accountability development in post-communist countries. Thirdly, by using an institutional analysis, the main problems in government financial accountability were discovered. Fourthly, ideas to improve government financial accountability were suggested. Those suggestions were developed, taking into account the specific problems of post-communist countries. Government financial accounting in post-communist countries, such as Ukraine, Belarus, and Russia, significantly lags behind the demands of modern society, affecting all members and levels of the national economy. Overcoming this problem is common to almost all post-communist countries. Effective finan- cial and economic information must meet basic quality characteristics – relevant, significant, objective, comprehensive, neutral, and without error. Post-communist countries which are not EU members must consider the important role of open financial information in the successful development of state and business spheres, increasing competitive advantage and attracting investors.

The Impact of Voice and Accountability in the Esg Framework in a Global Perspective

“…There is a negative relationship between VA and corruption in SSA countries in the period 2004-2018 (Achioyamen & Kazmi Johansson, 2020). VA has a positive impact on trust in government (Spiteri & Briguglio, 2018) .VA can promote better financial accountability of the government in developing countries in Eastern European countries (Fedosov & Paientko, 2018). VA is positively associated with good governance models.…”

The Impact of Voice and Accountability in the ESG Framework in a Global Perspective

“…VA has a positive impact on trust in government [51]. VA can promote better financial accountability of the government in developing countries in Eastern European countries [52]. VA is positively associated with good governance models.…”

“…[49] VA and International Economics [21], [22], [23] VA and Governance Indicators [50], [51], [52] 3…”

Taxation, Inequality, and Poverty: Evidence from Ukraine

“…It should be noted that tax policies affect economic and social development in different countries in various ways, and hence the effects on inequality and poverty will also be diverse. The results of the fiscal policy impact depend on many factors, including the level of shadow economy (Paientko & Proskura, 2016), transparency of public expenditures, corruption, absence of double standards in tax control (Fedosov & Paientko, 2018), and so forth. For this reason, research into trends in the impact of taxes on inequality and poverty should be not only aggregated, that is, carried out on the basis of information on groups of countries, but also assessed individually, that is, the impact of taxes on poverty and inequality in a specific country should be estimated.…”