In the conditions of intensive globalization processes, the problem of international comparisons of countries ' development increases. The usual methods of comparisons based on macroeconomic indicators today do not reflect the real reality, so it becomes important in the teaching of economic Sciences to give students a methodology for comparing the economic development of countries on the basis of numerous rating studies. In recent years, the development of rating comparisons has become one of the priorities of many international economic organizations. These rankings make it possible to significantly supplement and specialize international comparisons, to teach students the perfect techniques that allow them to quickly engage in international projects and research, to do business.
Since the outbreak of the COVID–19 pandemic, there have been 1 billion identified cases and more than 2 million deaths around the world. The current global problem of the pandemic, with the introduction of unpopular measures such as border closures and total quarantine, revealed a dilemma between economic growth and maintaining human health and intensifying traditional global problems such as hunger, poverty, and social inequality to new levels. Even countries with social economic models were confronted with the negative effects of the pandemic. The aim of the article is to examine the developmentof social economy model factors (Liberal, Continental, Scandinavian, Mediterranean, and Transitive) during a pandemic. The objects of study arecountries thatare centers of social economy models (Belarus, Slovakia, Ireland, Sweden, and Poland). The research method is factor modeling of global and national (local) social factors thathaddifferent consequences of the pandemic in the countries. Countries with different social economy models can use the results and recommendations to develop social policy to counter the pandemic.
The COVID-2019 pandemic has negatively affected all aspects of the socio-economic development of countries. Both Latvia and Ukraine were not spared from these trends. An important issue for the development of countries at the current stage, especially for Ukraine in the conditions of war, is the development of new technologies that give the possibility to manage the accounts online. The main research purpose is to explore the ability of FinTech companies to provide financial stability during a pandemic. This investigation becomes essential in the view of the other global challenges, such as war. Examination of technological innovation of FinTech development in the paper is carried out in the following logical sequence: studying the development of technological innovations of FinTech companies in Latvia and Ukraine; identifying the positive experience of Lithuania and Estonia in the development of the FinTech sector for Latvia and Ukraine; analyzing the capabilities of FinTech and EcoTech companies. Methodological tools of the research methods were literature analysis (a review of research in FinTech companies) and taxonomic methods used to determine the development and ability of FinTech to ensure financial stability. The research covers 1986-2020. The research object is the FinTech Index and Index of Economic Freedom of Ukraine and Latvia, Estonia, and Lithuania because Ukraine and Latvia lag behind Estonia and Lithuania in terms of their Global FinTech index and, in perspective, could use their positive experience of FinTech development. For this reason, the authors proposed tightening countries` positions according to the criteria of the legislative base, government intervention in the economy, the efficiency of regulation, and openness of the economy. The directions of the development of technological innovation of EcoTech were proposed. The research empirically confirms and theoretically proves the development of FinTech and EcoTech's innovative conception and tools. The research results and recommendations could be useful for transnational corporations to develop the FinTech system.
Scientific literature highlights that the soundness of banks benefits from the quality of institutional environment. Although, there is no univocal opinion concerning the key factors of institutional environment that are crucial for the soundness of banks. Additionally, the previous studies mostly focus on separate factors and concrete case studies. The authors address the issue on factors of institutional environment encouraging the soundness of banks by trying to get the whole picture from the separately studied factors and conduct the analysis at the global level by differentiating countries depending on their level of the soundness of banks. As a result of scientific literature review, the authors offer six factors of institutional environment and select appropriate indicators from the Global Competitiveness Report of the World Economic Forum for empirical analysis. The authorsí offered factors are as follow: external economic conjuncture, internal political conjuncture, technological conjuncture, socially humanitarian conjuncture, economic and legal positions of debtors and creditors, quality of analysis and monitoring of banks. Testing the linkage between factors of institutional environment and the soundness of banks in the countriesí groups with different level of soundness of banks, the authors conclude that there are both common and distinct features of institutional environment depending on factors and the level of soundness of banks. The common features of institutional environment relate to quality of analysis and monitoring of banks as well as economic and legal positions of debtors and creditors. The distinct features of institutional environment appear in the countriesí group with high level of soundness of banks and relate to technological conjuncture and socially humanitarian conjuncture.
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