The transformation processes taking place in the global economy and the expansion of global business ties increase the overall vulnerability of the international banking system. One of the problems related to money laundering is the process of evaluating the efficiency of financial monitoring measures. The article discusses the issues of assessing the effectiveness of financial monitoring in the banking system of the country. For Ukraine, this problem is especially relevant, because there is a bank-centric model of the financial market (about 90% of assets go through the banking system) in the country. According to official data, 50% of economic activity in Ukraine ends with money laundering. The article presents the improved method that quantifies the level of financial monitoring system effectiveness at commercial banks of Ukraine based on calculations of the integral index. The index indicates the dynamics of the financial system protection degree from the money laundering threat based on the expediency and efficiency of financial monitoring in the banking system. As a result, more comprehensive conclusions about the level of financial security of the country are made. According to assessments, in 2017–2018 the efficiency of financial monitoring of the banking system of Ukraine was at the middle level (about 64%). The proposed method can be applied to evaluate the effectiveness of the financial monitoring system in any country and become the basis for improving the anti-money laundering system through the banking system. AcknowledgmentThe study was conducted as part of state budget research of Sumy State University – Formation of a Public Finance Transparency System as a Prerequisite for Combating Corruption in Ukraine (0118U003585) (in the context of evaluating the effectiveness of financial monitoring of the Ukrainian banking system) and Formation of Tools for the Ukrainian Economy Unshadowing Based on Causal Modeling of Interaction Trajectories of Financial Intermediaries (0120U100473) (in the context of substantiating the need and directions for improving the financial monitoring system in Ukrainian banks).

In the conditions of functioning of economic relations, which arise between subjects of the financial system of Ukraine, the question of creating safe conditions for their activity is increasingly being raised. Attention is paid to the investigation of the state of financial security of the country as a component of economic security, in terms of its key elements, which allows attention to the most important indicators and to develop measures to prevent existing threats.The purpose of the paper is to forecast the level of financial security of the country based on regression analysis of impacts factors. The object of the study is the financial system as a mechanism, which is aimed at the activities of financial security subjects of the country to ensure its proper level. As a result of the regression analysis, it was found that changing in the country’s banking security by 1% will decrease the overall financial security index by 0.04 points, while the non-banking market will grow by 0.07 and the monetary component will decrease by 0.51.Based on the calculation of the arithmetic mean of absolute deviations of independent variables, the estimated value of Ukraine’s financial security level is calculated, which is 40.09% in 2018.Proposals for improving the “Methodological Recommendations for Calculating the Level of Economic Security of Ukraine” will help to solve the problem of mathematical substantiation of the choice of indicators for assessing financial security, minimize risks, eliminate subjectivity and improve the efficiency and the quality of the country’s financial security assessment methodology.The article deals with the issues of the financial component of economic security as the main element of ensuring sustainable financial development of the country.

Public procurement has been the subject of research for a long time in the work of scientists from both the economically developed countries and those undergoing the transformation of public finances. Their research comes from different points of view, namely from the essence of the definition, the process of their conduct, the problems of the legislative framework to their effective implementation. In addition, the issue of electronic public procurement, which can greatly enhance the transparency of this process and reduce the level of corruption inherent in this area in all countries without any exception, is becoming increasingly relevant in recent times.Based on the conducted analysis, the article proposes the definition of the term of public procurement, defines the principles of public procurement as a controlled subject in the electronic environment of their conduct, and systematizes the basic indicators characterizing the effectiveness of public procurement. Based on the Granger causality method, an analysis of efficiency was performed and the basic indicators determining the level of savings in the public procurement system were determined. It is established that the use of Granger causality in changing the amount of savings in the system of public procurement gives only a quantitative characteristic. For a more complete picture quantitative analysis is supplemented with qualitative parameters.

The priority task for ensuring the economic security of a country, which is especially noticeable in the rapidly changing conditions of the contemporary global world, is to forecast challenges and threats. Economic security is one of the necessary conditions for state development, which provides guidelines for making major social and economic decisions. There are a few studies on the determinants of the economic security and no data about security determinants that are required to monitor it. The study aims to identify possible links between leading determinants of the economic security. For this purpose, on the example of Ukraine, causal links between the formation of real GDP (as the leading determinant that characterizes the economic security of the state), 11 determinants that indicate the level of international economic development, and 6 determinants of social development for the period 2014–2020 were determined. With a 5% level significance, the impact on the volume of real GDP of 14 determinants of state economic security was noted and specific time lags were defined. Besides, the bilateral causal effect and lack of causal connection between individual determinants were mentioned. Findings are helpful for effective public administration. In addition, active measures are needed to combat corruption, shadow and criminal economy, and state protection of domestic producers operating in the military, food, information, and energy security sectors. AcknowledgmentAlina Bukhtiarova gratefully acknowledges financial support from the Ministry of Education and Science of Ukraine (0120U100473).

Nowadays, there is a constant need for managing large amounts of information in public finances to identify existing and prevent future cases of illegal use of financial resources of citizens. The openness of information of key public finance authorities has a powerful anti-corruption effect and has a beneficial effect on economic development, while transparency of public finances is a factor in the successful implementation of the reform of all spheres of the economy.The purpose of the article is to develop a methodology for assessing the institutional and political transparency of the leading public finance authorities in Ukraine and its practical application on the example of the Ministry of Finance and the State Fiscal Service of Ukraine. The methodology includes six main stages, based on which the transparency index of public finance authorities was calculated. Constant calculations of the index will motivate the interaction of stakeholders and non-governmental organizations to increase the openness of public finance authorities in public finances, and the digital data settlements themselves can be used to develop recommendations to increase the level of transparency of the activities of key public finance authorities. Approbation of the developed transparency index of public finance authorities on the example of the Ministry of Finance and the State Fiscal Service of Ukraine made it possible to calculate the percentage of openness of data published by the indicated institutions. Based on quantitative calculations, practical recommendations were made for improving the completeness, reliability, availability and timeliness of published information.