Methods of State’s Reaction to Risks of State Finances Management

Margarita Irizepova
European Research Studies Journal, Volume XVIII, Issue 3, 129-136, 2015
EOI: 10.11214/thalassinos.18.03.011

Abstract:

The purpose of the article is the study of methods of state’s reaction to risks of state finances management. Methodological basis of the research is presented by the principle of integrity of the past, present, and future, with the help of which the proprietary position for determination of the category of state financial reserves in the basis of F. Knight’s concept is presented, according to which measurability of uncertainty is one of prerequisites of formation and use of financial reserves. A key conclusion of the conducted research is substantiation of the fact that, being an economic category, state financial reserves occupy a certain niche in the system of state finances. From these positions, state financial reserves are financial relations as to creation, distribution, and use of the part of national financial resources that are created from value added (GDP) and are aimed for constant process of development of national economy under the conditions of uncertainty and risk. Under the modern conditions, the necessity for clear work of national institutes that coordinate state financial flows grows. Evaluation and distribution of risks in this sphere of management and use of methods of regulation of risks in any moment can be measured quantitatively and determined qualitatively only after their implementation later on.


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