Changes Of The Concept Of State Finance And Subjects In Sustainability Context

  • Gintaras Èernius Mykolas Romeris University, Vilnius,
Keywords: State finance, Sustainability


In a face of global financial crisis that is currently shaking the world, the issue what is the role of a state in its finance management and how  each state influences, or can influence, its finance is extremely relevant.The objective of  this research is to  identify whether the contemporary approach to public finance and its subjects is suitable  for the effective  financial  management at a state level in present conditions. In order to reach the objective, the research shall examine how the contemporary approach to finance limits possibilities of its management; form new concept of state finance involving private and public finance; and define how  the application of  new, broader, social partnership based approach, might  change financial relationship between a state, citizens, and companies, and how   practical  application  of  this  new approach  might contribute to financial stability of a state. Practical application of the research results would  allow saving 2­4  percent on the interest rates for state loans, create better conditions for the development of state economy, and increase financial sustainability of a state.


Buškevičiūtė, Eugenija. Viešieji finansai [Public finance]. Kaunas: Technologija, 2008.

Jasinavièius. Rimvydas,; Ganiprauskas. Vidmantas, The Impact Of Household Lending And Government Debt Instruments On The Lithuania‘s Economic Welfare“ 16­17 Nov. 2011 International Scientific Conference “Whither Our Economies”: 182­187 <­2.pdf>.

Fuks, Erika. „Estonian capital company in Lithuania would like to see anything other than qualification“. DELFI. 9 Feb. 2012



Jurgutis, Vladas. Finansų mokslo pagrindai [Fundamentals of Finance Science]. Kaunas: viesa, 1938.

Hillman, Arye L. Public finance and public policy: responsibilities and limitations of government. 2nd ed. Cambridge: Cambridge University Press, 2009.

Rakauskienė, Ona Gražina. Valstybės ekonominė politika: (fiskalinė, užsienio prekybos ir socialinė politika) [State Economy Policy (fiscal, foreign trade and social policy)]. Vilnius: MRU Leidybos centras, 2006.

Republic of Lithuania. Law on budgeting. 30 July 1990 (I­430). Vilnius. <


Republic of Lithuania. Ministry of Finance. 2011 will be borrowed half 2010 amount <>.

Republic of Lithuania. Ministry of Finance. In 2012 State borrowing leads to earlier commitments. .

Republic of Lithuania. Ministry of Finance. Results of the Government savings notes emission, 2012 < web/finmin/vyriausybes_vertybiniai_popieriai/tl_rez>.

Republic of Lithuania. The Securities Commission. Population survey of financial literacy, 2009 <­ pranesimai/investuotoju­svietimas/14093/>.