Inter-Country Factor Analysis of Disbalances and Stability of the Financial Sector of Economy

Lunyakov Oleg V. ()
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Lunyakov Oleg V.: Sevastopol Institute of Banking of the Ukrainian Academy of Banking of National Bank of Ukraine

Business Inform, 2013, issue 6, 95_99

Abstract: The article generalises indicators of financial stability, which are used by the National Bank for monitoring the financial sector of economy of Ukraine. It shows that the existing system of indicators of financial stability has a number of shortcomings. It justifies a necessity of carrying out an integral assessment of the financial stability and level of accumulated disbalances in the financial sector. It conducts an inter-country factor analysis, which allows marking out integral indicators of financial stability and financial disbalances. It shows that the use of indicators of financial stability with respect to identification of disbalances in the financial sector of economy is possible but it is not sufficient. A separated integral indicator of financial disbalances gives a more detailed explanation of the increase of vulnerability of the financial sector with respect to potential financial stresses. It is assumed that its use would allow a more adequate application of monetary and macro-prudential instruments of regulation.

Keywords: financial sector; financial disbalances; financial stability; macro-prudential regulation (search for similar items in EconPapers)
Date: 2013
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