Institutional Infrastructure of Public Finance

Abstract

The presented study determines the conceptual framework of public finance infrastructure. Aim. The study aims to provide a formalized description of an infrastructure system for public finance capable of explaining its nature and structure and facilitating the understanding of its purpose. Tasks. The author classifies the definitions of "financial infrastructure" by use, determines the composition and place of the public finance infrastructure system, examines the system of budgetary law institutions and on its basis proposes a structure of financial infrastructure. Methods. The author analyzes the existing scientific approaches to the definition of financial infrastructure and institutional infrastructure and proposes original provisions adequate to the purposes of this study and the design goals for financial management systems. Results. The study tests new approaches to the description and visualization of the institutional infrastructure of the public finance system and creates a general ontological model for a "Budget Structure" institution as an example of representation of knowledge about infrastructure. Conclusions. The proposed descriptions of institutional infrastructure allow experts to clearly formulate and explain the nature and structure of the phenomena in the information processes of public finance management, and give project designers the opportunity to better understand this specific knowledge.