Financial Stability and its Impact on National Security State: Organizational and Legal Aspects

Onyshchuk, Svitlana V.; Onyshchuk, Igor I.; Petroye, Olha; Chernysh, Roman

doi:10.35808/ijeba/429

Cited by 5 publications

(2 citation statements)

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“…In their article, S. B. Onishchuk and others [7] show that the main problems of financial stability that influence national security of Ukraine are the inefficient regulatory legislation, the high level of distrust within financial sector, the slow dynamic potential of securities increase, the high level of loan rates. Other problems include the fact that the financial sector is incapable of ensuring redistribution of funds in the economy of Ukraine.…”

Section: Financial and Legal Aspects Of Economic Security Of The Statementioning

confidence: 99%

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Financial and Legal Aspects of Economic Security of the State

et al. 2021

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Abstract. The problem of elaborating the comprehensive state policy on regulatory and legal provision of the financial security at all levels of economy is significantly important for Ukraine. It is crucial to ensure development and implementation of the legislative framework that would determine the types of internal and external threats to the stability of financial activity and the means of counteracting these threats; the full power and responsibility of state authorities concerning the financial and legal regulation aimed at warranting order in financial sphere; the mechanism of financial control organization as the means of preventing financial offences. The aim of the research is to outline the essence of new threats to the economic and financial security of the state under modern economic conditions and search for the required mechanisms and means of regulatory and legal provisioning of the financial security of Ukraine. In the course of research, the general scientific and theoretical methods have been applied. These include systemic analysis (for defining the object and the subject of research); abstract and logical method (for preparing the scientifically justified generalizations and conclusions about the essence, the mechanism of provisioning financial security of the state, and the factors that designate it); graphic method (for representing visually the mechanism of ensuring financial security of the state). The article introduces improvements to the list of modern internal and external threats to the financial and economic security of the state with respect to the immanent nature of the World Band and the International Monetary Fund. It has been emphasized that the new list of indicators and sources of initial information about the constituent components of financial security should be developed and approved because the current list was outlined in the end of 2013 and does not take into account modern realia. It is necessary to determine the functions of the Ministry of Economy of Ukraine in the realm of monitoring and regulating financial stability of the state, particularly in the real economy sector. It has been specified that scientific development of the range of problems related to the methodology and legal regulation of the state security provisioning, as well as the means and methods of preventing and mitigating the threats, is tightly connected with the development of macroprudential supervision and regulation under the aegis of the National Bank of Ukraine. The introduction of new indicators by the Bank (such as the level of non-performing loans, the financial stress index, and others) is the positive step. Nonetheless, the large quantity of private indicators interferes the process of elaborating the set of measures for financial and legal regulation of the financial security level. The new methodological approach to development of the integrated indicator of financial stability at the macro level has been suggested. The research results enable the possibility of improving the mechanism of state financial security and justifying the set of measures for its reinforcement. The review and improvement of the current legal framework in the area of financial and regulatory economic security, and development of the new integrated indicator of financial security level are necessary. Keywords: financial security; internal and external threats; legal mechanism of security provision, macroprudential regulation. JEL Classіfіcatіon: О12, Е59 Formulas: 0; fig.: 2; tabl.: 1; bibl.: 16.

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Section: Financial and Legal Aspects Of Economic Security Of The Statementioning

confidence: 99%

“…The scientific development of certain problems related to the methodology and legal regulation of state security provisioning, as well as the means and methods of preventing and mitigating the threats, is tightly connected with the development of macroprudential supervision and regulation [7].…”

Section: Threats To Financial and Economic Security Of Statementioning

confidence: 99%

Financial and Legal Aspects of Economic Security of the State

et al. 2021

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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

Grikietytė-Čebatavičienė

2021

open-series

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Financial security of the country means the absence of threats to the financial system, ensuring the stability and development of the financial system and the ability to maintain the financial sovereignty of the state. The aim of the article is to evaluate financial security in EU countries. The aggregate financial security index (AFSI) is used to reach this goal. AFSI calculation is based on five sub-indexes: Human Development Index, Economic Globalisation Index, Financial Development Index, Index of Economic Freedom and Country Level Index of Financial Stress. The results show that Market-based EU countries have the highest financial security. The lowest financial security was set in Eastern European countries.

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Financial Stability and its Impact on National Security State: Organizational and Legal Aspects

Cited by 5 publications

References 14 publications

Financial and Legal Aspects of Economic Security of the State

Financial and Legal Aspects of Economic Security of the State

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

Financial Security Assessment in the European Union Countries

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