Financial Law as a Public Law Branch: A Fresh Look at the Signs of Publicity

The purpose of this research is to identify new characteristics reflecting publicity of financial and legal relations. This article formulates evidence on the preponderance of public interest over private interest, justifies a new perception of the subject through the prism of financial activities of the state, and shows the dependence of financial law characteristics on social development. The attention is focused to the circumstances that indicate the priority of publicity in finance as in public relations. Even though the state actively uses private-law mechanisms in the sphere of finances, it is necessary to search for and identify characteristics reflecting publicity. This article articulates forms and methods the state uses to influence activities of private entrepreneurs with public law, specifies the forms and types of state influence on the financial sphere, as well as signs that speak of the need for addressing public law. The main provisions and results are relevant for further studies to assess the effectiveness of state financial regulation, and for the development of projects for reforming fiscal and social policies and strategic development programs.