Fiscal instruments of regulatory competition in the face of challenges to macroeconomic stability during a pandemic COVID-19

Abstract

The article’s relevance lies in need for empirical testing of theoretical concepts in the new economic conditions caused by the corona crisis. The purpose of the paper is to identify the manifestations of macroeconomic instability in the period before and after the pandemic and to demonstrate the effectiveness of the use of fiscal instruments of regulatory competition to achieve the goals of the stabilization policy of the governments of countries with developed economies. The research is based on the categories of theoretical and empirical levels of knowledge. The use of the method of analysis, abstraction and synthesis, induction and deduction, as well as the system-structural method, the method of idealization, made it possible to identify new forms of manifestation of the phenomenon of fiscal regulatory competition and establish its place in the implementation of the stabilization and incentive programs of the government.