Strategic priorities for the development of the financial system of Ukraine in the conditions of globalization

Alla Chornovol
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Alla Chornovol: Chernivtsi Instistute of Trade and Economics of KNUTE

University Economic Bulletin, 2022, issue 52, 176-181

Abstract: Relevance of the research topic. In the context of globalization, one of the key priorities of financial policy in the world and in Ukraine is to reduce the negative impact of exogenous and endogenous factors on economic growth, creating conditions for the development of the financial system. Formulation of the problem. In the absence of strategic coordination of public administration bodies in the financial sphere, the risks of reducing its effectiveness may increase significantly. Analysis of recent research and publications. Problems of development of the financial system in the context of globalization are revealed in many scientific studies of foreign scholars: J. Keynes, R. Musgrave, P. Samuelson, J. Stiglitz. Among domestic scientists should be noted such as: A. Epifanov, Y. Pasichnyk, I. Salo, V. Fedosov and others. Selection of unexplored parts of the general problem. Significant levels of uncertainty and variability of socio-economic problems require the restoration of control and the establishment of strategic orientation of the financial system. Problem setting, research goals. The objectives of the study are: to determine the features of the financial system of Ukraine in modern conditions; to analyze and evaluate its indicators. The purpose of the study is to substantiate the priorities of Ukraine's financial system in the context of globalization. Method or methodology of the study. To achieve this goal, a set of general scientific and special methods was used: system-structural analysis; calculation and analytical method; formal-logical analysis; method of scientific abstraction. Presentation of the main material (results of work). The peculiarities of the functioning of the domestic financial system are determined, the indicators are assessed and the priorities of its development are substantiated. Field of application of results. The results of the study can be used in the process of reforming the financial system and its components. Conclusions according to the article. At this stage, an important task is to develop new scientifically sound approaches to the development of the financial system through the introduction of systematic monitoring of macroeconomic imbalances, which will improve the quality of macroeconomic and fiscal risks, create a single information base for sound management decisions in finance.

Keywords: finance; financial policy; financial system; financial sector; public finance; public expenditures (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:aff:colart:y:2022:i:52:p:176-181

DOI: 10.31470/2306-546X-2022-52-176-181

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