MODERN METHODOLOGIES FOR ASSESSING THE EFFECTIVENESS OF PUBLIC FINANCIAL POLICY
DOI:
https://doi.org/10.60078/3060-4842-2025-vol2-iss5-pp3-13Abstract
The article examines the issues of improving the methodological foundations for assessing the effectiveness of fiscal policy and their application in the practice of Uzbekistan. In particular, the theoretical foundations of evaluating fiscal policy as well as the possibilities of using traditional and modern methods in determining its effectiveness are analyzed. Specifically, the study considers the composite index of effectiveness based on macroeconomic indicators (MSSI – Macroeconomic Stability and Sustainability Index), the sectoral cost–effectiveness evaluation model (DEA – Data Envelopment Analysis), the elasticity method for assessing the impact of tax policy on GDP, behavioral models based on the Laffer curve, and the performance-based assessment of social expenditure efficiency (PBB – Performance-Based Budgeting). Using Uzbekistan as a case study, these methodological approaches were applied and analyzed, which made it possible to identify the strengths and weaknesses of fiscal policy and to outline prospective directions for its improvement.
Keywords:
fiscal policy Macroeconomic Stability Index (MSSI) efficiency assessment model (DEA) tax policy elasticity coefficient Laffer curve social expenditure efficiency indicator (PBB) cost-effectiveness analysisReferences
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