Management Theory and Studies for Rural Business and Infrastructure Development, Volume 40, Number 3

FINANCIAL POLICY RULES IN THE EDUCATIONAL SPHERE: SUBSTANTIATION ALGORITHM

Irina Radionova, Vira Usyk

Abstract

The purpose of the article is to substantiate the educational sphere financial rules, what can answer the question of how education financing indices must change under the alteration of macroeconomic indices, which determine the national economy state. The authors are investigating the issue regarding the substantiation and specification of educational sphere financial rules and related public administration benefits. The research has applied the fiscal and monetary rules analysis methodology. The applied result of the education financing rules substantiation issue research consists in the application of the algorithm, which covers 5 stages: rules idea formulation, the assessment of variables relationships significance according to the rules idea, the selection of endogenous and exogenous variables with significant relationships, the definition of gaps between the actual and trend values of the selected variables, the derivation of the equation of dependencies between the gaps.

JEL Codes: E62, G28, I22.

Keyword(s): government policy rules, monetary, fiscal rules, educational sphere


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Management Theory and Studies for Rural Business and Infrastructure Development eISSN 2345-0355

This journal is published under the terms of the Creative Commons Attribution-Noncommercial 3.0 Unported License. Responsible editor: Dr Audrius Gargasas.