Introduction. IThe article provides a critical analysis of conceptual framework inherited from Soviet financial science, which are not confirmed by the development of western economic science and modern practice. It is revealed that such orthodox dogmatic approach is based on the Marxist-Lenin doctrine, which testifies to the unrealized decommunization of domestic financial science.

Methods. We use methods of abstraction and comparison, as well as methods of logical analysis.

Results. The Unitarian view of finance, which combines public, corporate and personal finance into a single category and a common science, is criticized. It is stated that the divergence of scientific areas of private finance and public finance was carried out by Western economic thought at the beginning of the twentieth century. It is proved that the definition of the category “finance” through the concept of relations does not allow to fully reveal their essence. The limitations of the orthodox approach to determining the role of finance in the stages of social reproduction have been revealed, since it does not take into account the stages of production and consumption. The advantages of financial science of the West are pointed out as a result of a comprehensive study of social production of goods, redistribution of income, fiscal exchange and public consumption. The need to change the paradigm of the view on financial issues from state-centric to human-centric is emphasized. A critical appraisal of the orthodox interpretation of public finance functions is given. The functions of public finance are highlighted: allocation of resources to the public sector and income redistribution.

Conclusions. There is a necessity of further revise the orthodox conceptual framework and use the methodological framework of the Western financial thought.

Ключові слова

financial science, public finance, public finance, private finance, public goods, functions of finance

Повний текст:



Alekseenko, M. M. (1987). Berkov, N. T. (Ed.). Finansy i kredit SSSR. [Finance and credit of the USSR]. (2-nd ed.). Lvov: Vyshcha shkola [in Russian].

Andrushchenko, V. L. (2000). Finansova dumka Zakhodu v XX stolitti: (Teoretychna kontseptualizatsiia i naukova problematyka derzhavnykh finansiv) [Financial thought of the West in the twentieth century: (Theoretical conceptualization and scientific issues of public finance)]. Lviv: Kameniar [in Ukrainian].

Sutormina, V. M., Fedosov, V. M., Andrushchenko, V. L. (1992). Derzhava – podatky – biznes (Iz svitovoho dosvidu fiskalnoho rehuliuvannia rynkovoi ekonomiky) [State – Taxes – Business (From the world experience of fiscal regulation of market economy)]. Kyiv: Lybid [in Ukrainian].

Vasylyk, O. D. (2000). Teoriia finansiv [The theory of finance]. Kyiv: NIOS [in Ukrainian].

Yukhymenko, P. I., Fedosov, V. M., Lazebnyk, L. L. (2010). Teoriia finansiv [The theory of finance]. Kyiv: TsUL [in Ukrainian].

Yurii, S. I., Fedosov, V. M. (2008). Finansy [Finance]. Kyiv: Znannia [in Ukrainian].

Brodel, F. (1997). Materialna tsyvilizatsiia, ekonomika i kapitalizm, XV–XVIII st. [Material civilization, economy and capitalism, XV–XVIII centuries]. (Vol. 2). Kyiv: Osnovy [in Ukrainian].

Shumpeter, Y. (1995). Kapitalizm, sotsializm i demokratiia [Capitalism, socialism and democracy]. (V. Ruzhytskyi, P. Tarashchuk, Trans.). Kyiv: Osnovy [in Ukrainian].

Ziatkovskyi, I. V. (2006). Finansy subiektiv hospodariuvannia v umovakh instytutsiinykh peretvoren [The finance of economic entities in the context of institutional transformations]. Ternopil: Ekonomichna dumka [in Ukrainian].

Voznesenskiy, E. A. (1985). Finansy kak stoimostnaya kategoriya [Finance as a value category]. Moscow: Finansy y statistyka [in Russian].

Garetovskiy, N. V. (1985). Finansy sotsialisticheskogo obshchestva [Socialist finance]. Moscow: Finansy i statistika [in Russian].

Musgrave, R. A. (1959). The theory of public finance. New York: McGRAW-HILL.

Rosen, H. S. (1992). Public finance. Burr Ridge: IRWIN.

Blankart, Sh. (2000). Derzhavni finansy v umovakh demokratii : vstup do finansovoi nauky [Public finance in a democracy: introduction to financial science]. Kyiv: Lybid [in Ukrainian].

Byukenen, D. M. (1996). Politicheskaya ekonomiya gosudarstva blagosostoyaniya [The political economy of the welfare state]. MEMO, 5, 46–52 [in Russian].

Metodolohichni polozhennia rozrakhunku valovoho vnutrishnoho produktu: zatv. Nakazom Derzhavnoi sluzhby statystyky Ukrainy 17.09.2018 № 187 [Methodological provisions for the calculation of gross domestic product]. (2018, September, 17). Available at:



  • Поки немає зовнішніх посилань.

ISSN 1818-5754 (print), ISSN 2415-3672 (online)
West Ukrainian National University
© "WOF", 2004-2019