The Financial Market of Ukraine: The Current State of the Main Segments

Iorgachova, M.; Ковальова, О.М.; Коцюрубенко, Г.М.

doi:10.32702/2307-2105-2021.2.90

Cited by 3 publications

(2 citation statements)

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“…Велика кількість науковців займається питаннями дослідження різних аспектів фінансового ринку України. У роботі [1] науковці М.І. Іоргачова, О.М.…”

Section: аналіз останніх досліджень і публікаційunclassified

“…Існують різноманітні підходи науковців до структури фінансового ринку. Одним з них є виділення в його структурі банківського ринку, ринку цінних паперів (фондового ринку), страхового ринку [1].…”

Section: виклад основного матеріалуunclassified

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Forecasting of the Main Segments of the Financial Market of Ukraine

CHAIKOVSKA,

HRYHORUK

2023

KhmNU.ES

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The article analyzes and builds economic and mathematical models for forecasting the main segments of the financial market of Ukraine:: the banking market; stock market; insurance market. The role of the financial market in modern civilized society is huge. Its functions include the mobilization of capital, its distribution among industries, control and support of the reproductive process, as well as increasing the efficiency of the economic system as a whole. The turning point for the Ukrainian financial market was 2022, namely the beginning of a full-scale Russian invasion, which led to the isolation of the financial market of Ukraine due to the introduction of martial law. In order to identify the key challenges for the development of the financial market, it is necessary to forecast the dynamics of its main segments using the tools of economic and mathematical modeling. A feature of the development of the domestic financial market is that the main part of the state’s financial resources is concentrated in such subjects of the financial system as deposit (commercial) banks; non-deposit financial intermediaries (insurance companies); subsidiary financial corporations (stock exchanges). According to the constructed forecasting models, it can be concluded that, all things being equal, in 2023 and 2024, the tendency to decrease the number of operating banks will continue and will be 59 and 54, respectively. As for the share of commercial banks with domestic capital, it will remain at the same level in 2023 and decrease by 4% in 2024. The number of insurance companies will decrease to 111 in 2023 and increase by 8 in 2024. Regarding the size of their assets, in 2023 there will be a decrease to the level of UAH 68,557 million, and a slight increase to the level of UAH 69,283 million in 2024. The share of the exchange market in the total volume of trades on the securities market will increase to 62% in 2022 and to 66% in 2023.

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Section: аналіз останніх досліджень і публікаційunclassified

Section: виклад основного матеріалуunclassified

Forecasting of the Main Segments of the Financial Market of Ukraine

CHAIKOVSKA,

HRYHORUK

2023

KhmNU.ES

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Conceptual and Methodological Foundations of the Research of the Problems of De Velopment of the Market of Financial Services

Khudoliy

2024

ecobm

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The problem of theory and methodology of financial services market research was and remains quite relevant. The scientists of the world have not finally decided on which scientific theory (theories) to base research on the development of the modern market. Therefore, the question remains open, which concept and methodology should be used for the analysis and forecast of its situation in order to obtain results that would most accurately reflect and explain the current situation and would provide a forecast of the development of this market for different perspectives, would provide tools for management business in the conditions of the conjuncture, which is expected. This article analyzes various economic theories and concepts that were dominant in the study of the problems of the development of the financial services market during the last centuries. As a conclusion, a mix of neoclassical, neo-Keynesian, new institutional theory and the theory of asymmetric information turned out to be the most appropriate for modern research. Such a comprehensive approach allows you to consider the market of financial services as a multifaceted and diverse phenomenon and to use a wide range of approaches, methods, tools, combining them within the limits of modern methodology. The main approaches used in the study were complex and systematic, which allow, after calculating the capacity of individual market segments, to arrive at indicators of the total capacity of the financial services market. In the process of research, the essence of the financial services market was determined, it was segmented according to various characteristics for deeper research, the place of each segment in the financial market system was invented, appropriate methods of analysis and forecasting of the development of segments of this market were outlined, approaches and methods of regulating market processes on them were determined. In the conditions of a full-scale war in Ukraine, it is extremely important to correctly determine the capacity of the financial services market in all its segments, to understand how important this source can be for the recovery and development of the national economy, to competently develop and regulate this market.

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History of state regulation of financial markets: Foreign practices and lessons for Ukraine

Feniuk

2023

Scientific Bulletin of Mukachevo State University Series “Economics”

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State regulation of financial markets is important for the country’s economic policy, and its historical assessment helps identify factors of success or failure and best global practices for application in Ukraine. The purpose of this study was to investigate the history of state regulation of financial markets and to analyse the practices of forming the financial system of different countries. The main scientific methods used were analysis, abstraction, deduction, historical method, forecasting, comparison. During the study, the history of state regulation of financial markets of four countries was evaluated: the United States of America, Germany, China, and Hong Kong (as a separate administrative region of China) and Poland. It was shown that all of them have certain features in terms of their historical formation and three selected characteristics, namely the level of centralization, the openness of the financial system and the role of the state in it. Based on the analysed information, relevant conclusions were formed regarding what the control over the financial system in Ukraine should be. The level of corruption of state structures is one of the key aspects that must be considered when developing the country’s financial policy. Considering the elevated level of corruption in Ukraine, it is recommended to reduce the role of the state in regulating the financial system, implement its decentralization, and free access to the market. These measures will minimize corruption, establish competitive relations between institutions, and delegate responsibilities. This will contribute to the achievement of more effective regulation of the financial system in Ukraine, considering the needs of the country’s reconstruction after the end of the war. Given the geographical and historical proximity, the regulatory principles used in Poland can be a valuable experience for improving the Ukrainian system. The study brings new knowledge in terms of the theory of financial markets, and offers a more profound understanding of the specific features of the development of the economy of Ukraine

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The Financial Market of Ukraine: The Current State of the Main Segments

Cited by 3 publications

References 1 publication

Forecasting of the Main Segments of the Financial Market of Ukraine

Forecasting of the Main Segments of the Financial Market of Ukraine

Conceptual and Methodological Foundations of the Research of the Problems of De Velopment of the Market of Financial Services

History of state regulation of financial markets: Foreign practices and lessons for Ukraine

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