3 The emergence of finance and the development of financial science.

 In many countries, the cost of regulating the reproduction process reaches 20% of state budget expenditures. Environmental protection contributions have increased in recent decades. To address employment issues and reduce unemployment, incentives are provided for entrepreneurs expanding production, as well as loans and subsidies for capital investment.

 The economic system that emerged in the USSR after the October Revolution did not fundamentally change the nature of financial relations established in previous socio-economic formations. However, it was distinguished by greater centralization of financial resources in the hands of the state, strict regulation of the use of financial resources by economic entities, and changes in the forms of financial relations with the state regarding payments to the budget (payments for funds, labor, land, etc.). Moreover, significant budget financing of economic entities has led to dependency among some of them.

 With the transition of the former Soviet republics to a market economy, changes occurred in the system of financial relations: taxes began to play a greater role in the interactions between economic entities and the state; The scope of activity of entrepreneurial structures expanded; state financing was sharply reduced in a number of areas; the scope of rights of economic entities in the management of financial resources increased; the process of denationalization and privatization of state-owned enterprises began, and on this basis, the development of market structures began; a network of commercial banks emerged; credit resources began to be managed through the establishment of market exchange rates and interest rates.

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