Cooperation of Ukraine with international financial partners in martial law

KLYMENKO, Kateryna; SAVOSTIANENKO, Maksym

doi:10.33763/finukr2022.05.043

Cited by 5 publications

(3 citation statements)

References 43 publications

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“…Проблеми, пов'язані з дослідженням економіки в умовах дії воєнного стану, наслідків війни та можливих шляхів відновлення після її закінчення, вже отримали відображення у працях таких науковців, як В. М. Геєць, Т. І. Єфименко, Т. П. Богдан, А. І. Даниленко, Ю. Б. Іванов, К. В. Клименко, В. П. Кудряшов, О. О. Любіч, Н. М. Шелудько та ін. [21][22][23][24][25][26][27][28][29]. Через важливість децентралізації в комплексі системних реформ, що впроваджуються в Україні з 2014 р., її перебіг після 24 лютого 2022 р., вплив на забезпечення життєдіяльності суспільства також потребує фахового аналізу і формування відповідних пропозицій, спрямованих, зокрема, на оптимізацію міжбюджетних відносин і зміцнення фінансової стійкості місцевого самоврядування.…”

Section: Fiscal Decentralization In Ukraine Under Martial Lawunclassified

Fiscal decentralization in Ukraine under martial law

PAVLIUK¹,

BARTOSH²

2022

Nauk. pr. NDFI

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The article examines the role of fiscal decentralization in Ukraine during martial law in ensuring the vital activities of the state. On the basis of foreign sources, it has been determined that decentralization is not a one-way process that has a linear character and leads to ambiguous consequences, although it generally has a positive effect on indicators of macroeconomic development. Scientists usually associate its success with the stabilization of the socio-economic situation, ensuring the high quality of local budgets and budget management, transparency of the budget process. It was found that decentralization in our country took place in the turbulent conditions of the hybrid war unleashed by Russia, as well as the global coronavirus pandemic. Despite this, positive results were achieved in strengthening the financial base of local authorities and self-government, and authoritative international organizations gave a high assessment of the decentralization process, including the fiscal one. The situation with the filling of local budgets during the war and the implementation of expenditures was analyzed, and the positive and contradictory consequences of the changes made to the relevant legislation were determined. The uncertain nature of the further development of events due to the impossibility of predicting the duration of active hostilities, the huge scale of destruction, the relocation of business, and the need for constant adjustment of the legal framework is emphasized. It was concluded that there is a need to develop a strategic document that would clearly outline all changes and innovations related to inter-budgetary relations and the relevant powers of local government and local authorities during the period of martial law. This would contribute to increasing the transparency of the budget process, would prevent the emergence of contradictions in the relations between central and local authorities and self-government.

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Section: Fiscal Decentralization In Ukraine Under Martial Lawunclassified

Fiscal decentralization in Ukraine under martial law

PAVLIUK¹,

BARTOSH²

2022

Nauk. pr. NDFI

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“…Проблеми, пов'язані з дослідженням економіки в умовах дії воєнного стану в Україні, функціонуванням державних фінансів під час війни, наслідків воєнного конфлікту та можливих шляхів відновлення, відображені у працях багатьох учених, таких як В. М. Геєць, Т. І. Єфименко, В. В. Близнюк, Т. П. Богдан, Г. П. Бортніков, В. А. Валігура, В. В. Венгер, Н. Г. Гахович, Д. М. Гладких, А. І. Даниленко, Л. В. Дейнеко, Ю. Б. Іванов, В. В. Карпова, А. І. Крисоватий, В. П. Кудряшов, О. М. Кушніренко, О. О. Любіч, О. І. Ники форук, О. О. Ципліцька, Н. М. Шелудько, С. Є. Шишков [3][4][5][6][7][8][9][10][11][12] С к л а д е н о за: Загальна сума прямих задокументованих збитків інфраструктури становить майже $92 млрд / Kyiv School of Economics. 2022.…”

Section: Jel Classifi Cation: F52 H54 H56unclassified

Assessment of the consequences of the ongoing military conflict in Ukraine and prospects for economic recovery

KLYMENKO¹,

SAVOSTIANENKO²

2022

Nauk. pr. NDFI

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According to the available data the authors have studied some aspects of the loss of Ukraine's economic potential as a result of Russian aggression and draft plans for post-war reconstruction, including those developed with the participation of international partners. The paper analyzes the urgent legislative initiatives and regulatory measures to be taken in the conditions and during the active phase of Russian aggression in Ukraine. The article examines some aspects of existing measures and medium-term plans for international support for post-war reconstruction. The main dimensions (regional and parametric) and key principles on which the recovery plan should be based, taking into account the European vector and the recommendations of international partners, are substantiated. Emphasis is placed on the need to form a comprehensive legislative and regulatory framework with appropriate scientific support to ensure the systematic organization of processes related to economic loss assessments, post-war reconstruction. Potential opportunities for the implementation of the new Reconstruction of Ukraine Program approved by the European Commission are analyzed. It has been emphasized that this program will become a new legal instrument for the European Union to support the reconstruction plan through a combination of grants and loans and will be included in the EU budget. The following main directions of reconstruction have been identified: reconstruction of the country in accordance with European standards (infrastructure, medical institutions, housing and schools, as well as the digital and energy sectors); continuing the modernization of the state by providing support for administrative capacity and technical assistance at all levels; implementation of the agenda of Ukraine's integration into the EU; economic recovery through fostering economic competitiveness, trade and private sector development, green transition and digitalization.

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“…Актуальні проблеми управління державними інвестиціями у банківському секторі України в умовах воєнного стану було висвітлено науковцями Академії в серії публікацій [20][21][22][23]. Особливого значення в умовах воєнного стану набули дослідження критичної інфраструктури, її фінансування та відновлення, у т. ч. із залученням ресурсів міжнародних фінансових організацій, результати яких викладені у статтях науковців Академії: "Критична інфраструктура та фінансова безпека" [24], "Фінансування інфраструктури в період подолання наслідків війни" [25], "Державне регулювання критичної інфраструктури в Україні в період воєнного стану" [26], "Співробітництво України з міжнародними фінансовими партнерами в умовах воєнного стану" [27]. Проблематику особливостей УДФ, законодавчого удосконалення та реалізації податкової політики з урахуванням нових економічних реалій, зумовлених воєнним станом та завданнями модернізації економіки у повоєнний період, урегулювання податкових преференцій у контексті антикризової фіскальної політики, оцінювання політики наближення податкового законодавства України до директив Ради ЄС комплексно розкрито в міжнародних виданнях та публікаціях: "Guidance on Core Indicators for Sustainability and SDG Impact Reporting.…”

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Public Financial Management in martial time and post-war reconstruction of Ukraine: scientific support of transformations

IEFYMENKO¹

2023

Fìnansi Ukr.

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Introduction. The scale of pandemic and war in Ukraine was not fully forecasted, but the crisis phenomena of these disasters have specific signs. One of the priorities of the tax and budget policy is resilience to threats, both foreseeable and unforeseeable. Problem Statement. The full-scale Russian invasion of Ukraine has led to significant changes in the resource base, economic potential and the common system of public finances, these can no longer function on pre-war principles. New realities, both internal and external, have emerged; it is impossible to ensure the successful development of the state without scientific understanding of them. Purpose. Justification of directions for the formation of internal pillars of stability and security of the economic development of Ukraine through transformations in Public Financial Management (PFM) during the period of martial law and post-war reconstruction. Methods. Based on trends in statistical indicators, a comparative analysis of national anti-crisis reforms in the field of public finances was conducted. The methodology of the system approach, methods of factual, situational analysis and synthesis were used. Results. Ukraine's acquisition of the status of a candidate for the EU membership, the modern realities of statehood and national economy recovery amid when the signs of fundamental turmoil in the global economic space, require significant changes in the PFM. It is necessary to rethink from scientific perspective and adjust the policy of countering threats of global and regional economic and social contradictions. International discussions on the plans for the post-war reconstruction of Ukraine prove the still uncertain, extremely multidimensional picture of the development of various components of the national socio-economic system. The amount of external financial support will depend on whether the measures to improve PFM during the period of martial law, as well as post-war reconstruction, will be interconnected, subordinated according to the space-time vector, etc. Conclusions. International financial institutions provide resources to conflict-prone and fragile states not only to correct imbalances, but also to build confidence during crisis situations when countries risk losing their ability to borrow on open markets. Taking into account the escalation of the geopolitical conflict associated with the full-scale Russian invasion of Ukraine, transformations in the fiscal sphere should be aimed at winning the war, preserving the territorial integrity of the state, supporting economic sovereignty and combating corruption, stimulating investment processes in the post-war recovery.

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Cooperation of Ukraine with international financial partners in martial law

Cited by 5 publications

References 43 publications

Fiscal decentralization in Ukraine under martial law

Fiscal decentralization in Ukraine under martial law

Assessment of the consequences of the ongoing military conflict in Ukraine and prospects for economic recovery

Public Financial Management in martial time and post-war reconstruction of Ukraine: scientific support of transformations

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