Fiscal Policy and Its Impact on Poverty and Inequality

Olga Arkadeva, Natalia Berezina, Mikhail Arkadev

2021

Abstract

The purpose of the study is to update the concept of fiscal instruments in order to reduce inequality, which will improve fiscal policy in the face of changing socio-economic trends. In the context of criticism of the neoliberal movement, the growing influence of demographic problems, the decrease in the incomes of the middle class, the increase in automation that frees up labor resources, the instability of the dominant paradigm of economic development, becomes obvious. Growing inequality has a negative impact on economic growth, carries serious risks for the political stability of state, and creates the preconditions for the growth of populist sentiments in developed countries and the strengthening of authoritarian tendencies in developing countries. The research objective is to identify the consequences of the use of individual tools and their combinations. The article presents the results of the study of foreign experience in the use of fiscal instruments, defines the nature of the impact of global trends on the growth of poverty and inequality and ways to reduce them. The results of the research in theoretical terms are expressed in ordering the world experience of using fiscal instruments to reduce poverty and inequality and systematizing ideas about the possibilities and limitations of the state in determining the fiscal course under the influence of global trends. The significance of the study lies in the possibility of identifying imbalances in the application of fiscal instruments in the Russian Federation in comparison with world experience and the development on this basis of practical recommendations for the implementation of a balanced state policy of regulating socio-economic development.

Paper Citation

in Harvard Style

Arkadeva O., Berezina N. and Arkadev M. (2021). Fiscal Policy and Its Impact on Poverty and Inequality. In Proceedings of the International Scientific-Practical Conference "Ensuring the Stability and Security of Socio-Economic Systems: Overcoming the Threats of the Crisis Space" - Volume 1: SES, ISBN 978-989-758-546-3, pages 43-48. DOI: 10.5220/0010682300003169

in Bibtex Style

@conference{ses21,
author={Olga Arkadeva and Natalia Berezina and Mikhail Arkadev},
title={Fiscal Policy and Its Impact on Poverty and Inequality},
booktitle={Proceedings of the International Scientific-Practical Conference "Ensuring the Stability and Security of Socio-Economic Systems: Overcoming the Threats of the Crisis Space" - Volume 1: SES,},
year={2021},
pages={43-48},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010682300003169},
isbn={978-989-758-546-3},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Scientific-Practical Conference "Ensuring the Stability and Security of Socio-Economic Systems: Overcoming the Threats of the Crisis Space" - Volume 1: SES,
TI - Fiscal Policy and Its Impact on Poverty and Inequality
SN - 978-989-758-546-3
AU - Arkadeva O.
AU - Berezina N.
AU - Arkadev M.
PY - 2021
SP - 43
EP - 48
DO - 10.5220/0010682300003169