Financial Security Assessment in the European Union Countries

Grikietytė-Čebatavičienė, Jurga

doi:10.15388/vgisc.2021.2

Cited by 2 publications

(1 citation statement)

References 14 publications

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“…Financial security as a component of the state economic security according to the Methodological recommendations for calculating the level of Ukrainian economic security, approved by the order of the Ministry of Economic Development and Trade of Ukraine dated October 29, 2013No. 1277 includes, in turn, six structural components: budgetary, debt, monetary, foreign exchange, banking security and the security of the non-banking financial sector (financial security of the insurance and stock markets) (Figure 1).…”

Section: Resultsmentioning

confidence: 99%

The Impact of the Insurance Market on the Financial Security of Ukraine

Onyshchenko¹,

Masliі²,

Kivshyk³

et al. 2023

ФКДПТП

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The need to ensure the state's financial security in the conditions of the growing number of global challenges, risks, dangers and threats as a prerequisite for restoring and preserving the stability of the national economic system was substantiated. The purpose of the article is to assess the impact of the insurance market and key indicators of its development on the level of Ukrainian financial security in order to determine the priority areas of its provision. The dependence of the state financial security level on a set of factors that have a close connection and mutual influence was studied. War is a massive structural shock to the Ukrainian economy since the total losses of the Ukrainian economy because of war, according to the general estimates of the Ministry of Economy and KSE, considering both direct losses and indirect losses (decrease in GDP, cessation of investment, the outflow of labour, additional spending on defence and social support, etc.) range from $564 billion to $600 billion. It was established that the growing number of negative security factors determine the impact of the insurance market on the financial, economic and social stability of society because an effectively functioning insurance market enables minimizing threats to individuals, society and the state as a whole. The mutual influence of the insurance market on the state's financial security is studied, which is manifested in the possibility of maintaining financial stability and stimulating economic development at the macro level through the accumulation of a significant amount of investment resources. The study of methodological and practical aspects of the impact of the insurance market on the state's financial security in the context of global hybrid threats was updated. The identification and assessment of the impact of threats associated with the state and trends in the insurance market of Ukraine were carried out using an indicator approach based on the Guidelines for assessing the Ukrainian economic security level. The limitation of the range of indicators used in it to assess the impact of insurance development on the level of financial security is proved. It is proposed to expand the list of indicators of the development of the insurance market, taking into account international experience. On the basis of correlation and regression analysis, the most significant factors of financial security in the field of insurance were identified. The results obtained can be used to substantiate the priorities for the insurance market development in the formation of the concept of Ukrainian financial security.

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Section: Resultsmentioning

confidence: 99%

The Impact of the Insurance Market on the Financial Security of Ukraine

Onyshchenko¹,

Masliі²,

Kivshyk³

et al. 2023

ФКДПТП

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show abstract

Impact factors and structural analysis of the state's financial security

Dankiewicz¹,

Balawejder²,

Chudy-Laskowska³

et al. 2022

Journal of International Studies

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The concept of state financial security is a key one, due to the fact that it reflects the state of the country, its public finances, as well as the state of the financial sector operating within it. An adequate level of state financial security can create optimal conditions for the development of the financial system, financial stability, as well as for the country's economic development and investment attractiveness. One of the main factors that determine a high level of state financial security is the stability of the financial sector. Given that the assets of the banking sector account for a significant, if not an overwhelming share of the total assets of the financial sector, this sector plays a key role in the economy as a whole. Therefore, a stable and secure banking sector is an important element affecting the level of financial security of a country. The paper attempts to define the concept of state financial security and to present its relevance. In addition, the paper also aimed to identify the main factors that most influence the level of state financial security. Eight indicators, generally accepted as those describing the level of state financial security, were applied in the paper and used as the basis for an econometric model expressing the relationship between them and the stable development of the banking sector. The study showed that the stability of the Polish banking sector determined the financial security of the state.

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Financial Security Assessment in the European Union Countries

Cited by 2 publications

References 14 publications

The Impact of the Insurance Market on the Financial Security of Ukraine

The Impact of the Insurance Market on the Financial Security of Ukraine

Impact factors and structural analysis of the state's financial security

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