FINANCIAL MARKET OF UKRAINE: STRUCTURE AND DEVELOPMENT TRENDS

Inna Berzhanir ()
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Inna Berzhanir: Pavlo Tychyna Uman State Pedagogical University, Ukraine

Three Seas Economic Journal, 2022, vol. 3, issue 1

Abstract: The purpose of this work is to study the current state and trends in the financial market of Ukraine. Methodology. The following methods of scientific research were used: analysis and synthesis; theoretical generalization; abstraction and comparison; systematic approach. Results. The article reports that the financial market of Ukraine is in the process of formation, which is due to the uneven spatial dynamics of financial capital in the course of market reforms; heterogeneity of economic and financial space of the country; fundamental asymmetry between regions in terms of financial capacity; localization of financial institutional infrastructure; level of investment attractiveness, etc. It was found that the main problem of the financial market of modern Ukraine is the inability to provide an effective redistribution of financial resources needed to meet the challenges of modernizing the domestic economy and create an innovative impetus to the reproductive processes. Practical implications. To improve Ukraine's financial sector and boost economic growth, it is necessary to create an effective mechanism for improving banks' lending policies. To develop bank lending and create financial stability in this period it is necessary to make banking services of higher quality to improve their competitiveness; to set maximum interest rates on loans within the framework of state acts and monitor their implementation; to encourage commercial banks to lend to innovative projects; to increase the size of main assets of state banks, increase their number and strengthen their role in the financial and credit market of Ukraine, etc. Value/originality. It has been researched that the structure of the financial market is dominated by the number of companies engaged in the provision of loans, loans, financial leasing, the provision of guarantees; carrying out factoring, currency exchange and money transfer operations. For the development of bank lending it is necessary to improve banking services to improve their competitiveness; set maximum interest rates on loans within state acts and monitor their implementation; stimulate lending by commercial banks to innovative projects; increase capital resources of state banks, increase their number and strengthen their role in the financial and credit market of Ukraine, etc. These measures will contribute to the recovery of the national economy and increase the level of financial efficiency of the domestic banking system.

Keywords: financial market; financial companies; banks; financial capital (search for similar items in EconPapers)
JEL-codes: E44 G19 O16 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:bal:3seasj:2661-5150:2022:3:1:3

DOI: 10.30525/2661-5150/2022-1-3

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