Увійти 
|
HOME PAGE | |
№ 2022/4
1Educational and Scientific Institute of Business, Economics and Management of Sumy State University
An assessment of Ukraine’s financial security: sectoral breakdown and general level
Economy and forecasting 2022; 4:108-130 | https://doi.org/10.15407/econforecast2022.04.108 |
ABSTRACT ▼
Financial security is characterized by the state's ability to ensure stability of the country's financial and economic development and includes the security of various economic activities and spheres of social life. The article assesses the security of the components of Ukraine’s financial sector and calculates the overall level of financial security in this country.
The author considers the current mechanism for determining the level of financial security. To date, in Ukraine, the Methodology for determining the level of financial security is in force, which is approved by the Ministry of Economy based on the "Methodological recommendations for calculating the level of economic security of Ukraine" created according to a quantitative study of indicators characterizing the level of Ukraine’s overall economic security and that of financial security as its priority component.
Calculated security levels of the financial sectors, namely those of the banking sector and the non-banking financial sector, as well as debt, budget, currency and monetary security. The most problematic is the debt sector whose security level averages 16.9% for the analyzed period. The overall level of financial security has a downward trend (44% in 2021). Ukraine's economy is not protected from financial threats and imbalances.
The author identifies a few shortcomings in the above mentioned Methodology. As it was developed in 2013, its indicators no longer reflect the real situatioin in the country, while its methods mainly focus on analyzing financial indicators and ignore non-financial information, external factors, and the impact excerted on overall financial security by its individual components. The article points to the need to improve the mechanism of assessing the level of national financial security and provides a series of corresponding proposals.
Keywords:security, assessment, indicator, financial sector
JEL: C52, E44, F65
Article in English (pp. 108 - 130) | Download | Downloads :65 |
REFERENCES ▼
2. Frolov, S.M. (2015) Management of financial security of economic subjects: study guide. Sumy: UABS NBU [in Ukrainian].
3. Financial security of the state: essence and approaches (2020). doi.org/10.32014/2020.2518-1483.105
4. Inglehart, R., & Abramson, P.R. (1994). Economic Security and Value Change. American Political Science Review, 88(2), 336-354. doi.org/10.2307/2944708.
5. Blakyta, G., Matusova, O., Lanovska, H., & Adamenko, V. (2017). Integral assessment of business environment security. Problems and Perspectives in Management, 15(4), 280-292. dx.doi.org/10.21511/ppm.15(4-1).2017.12
6. Cihak, M., Munoz, S., Sharifuddin, S., & Tintchev, K. (2016). IMF Working Paper, WP/12/1, 4-32.
7. Demirguc-Kunt, A., Detragiache, E., & Tressel, T. (2006) Banking on the Principles: Compliance with Basel Core Principles and Bank Soundness. World Bank Policy Research Working Paper, 3954, 3-33. doi.org/10.1596/1813-9450-3954
8. Edwards, Robert W. (2007). Financial Soundness Indicators: Experience with the Coordinated Compilation Exercise and Next Steps: Background Paper. IMF Working Paper, WP 101807. doi.org/10.5089/9781498333252.007
9. Ministry of Economy (2013). Methodological recommendations for calculating the level of economic security of Ukraine. Retrieved from cct.com.ua/2013/29.10.2013_1277.htm [in Ukrainian].
10. Sytnyk, H. (2017). Preliminary assessment of implementing the economic part of the National Security Strategy of Ukraine. Problems and Perspectives in Management, 15(4), 24-37. dx.doi.org/10.21511/ppm.15(4).2017.03
11. National Bank of Ukraine. Statistics of the financial sector. Monetary and credit statistics. Retrieved from bank.gov.ua/ua/statistic/sector-financial [in Ukrainian].
12. National Bank of Ukraine. Supervisory statistics. Active and passive operations of banks. Retrieved from bank.gov.ua/ua/statistic/supervision-statist [in Ukrainian].
13. National Bank of Ukraine. Supervisory statistics. The main indicators of the bank's activity. Retrieved from bank.gov.ua/ua/statistic/supervision-statist [in Ukrainian].
14. National Bank of Ukraine. Special data distribution standard. Financial sector. Overview of deposit corporations. Retrieved from bank.gov.ua/ua/statistic/sdds [in Ukrainian].
15. Ministry of Finance of Ukraine. Main performance indicators of banks. Retrieved from index.minfin.com.ua/ua/banks/stat/ [in Ukrainian].
16. Rating of banks of Ukraine NBU. Forinsurer. Retrieved from forinsurer.com/ratings/banks [in Ukrainian].
17. National Bank of Ukraine. Statistics of indicators of financial stability. Retrieved from bank.gov.ua/ua/statistics/sector-financial [in Ukrainian].
18. National Bank of Ukraine. Special data distribution standard. Economic and financial indicators of Ukraine. Stock Market. Retrieved from bank.gov.ua/ua/statistics/sdds [in Ukrainian].
19. Statistics of the insurance market of Ukraine. Forinsurer. Retrieved from forinsurer.com/stat [in Ukrainian].
20. National Bank of Ukraine. Macroeconomic indicators. Retrieved from bank.gov.ua/ua/statistics/macro-indicators [in Ukrainian].
21. Ministry of Finance of Ukraine. Gross domestic product (GDP) in Ukraine. Retrieved from index.minfin.com.ua/ua/economy/gdp/ [in Ukrainian].
22. Ministry of Finance of Ukraine. State debt and state-guaranteed debt. Retrieved from mof.gov.ua/uk/derzhavnij-borg-ta-garantovanij-derzhavju-borg [in Ukrainian].
23. Ministry of Finance of Ukraine. Gross foreign debt of Ukraine. Retrieved from index.minfin.com.ua/ua/economy/foreigndebt/ [in Ukrainian].
24. Ministry of Finance of Ukraine. Archive of exchange rates. Retrieved from index.minfin.com.ua/ua/exchange/archive/bank/exch/2020-12-31/ [in Ukrainian].
25. Ministry of Finance of Ukraine. Gold and currency reserves of Ukraine. Retrieved from index.minfin.com.ua/ua/finance/assets/2021 [in Ukrainian].
26. National Bank of Ukraine. Yield of OVDP on the primary market. Retrieved from bank.gov.ua/ua/statistics/sector-financial [in Ukrainian].
27. Ministry of Finance of Ukraine. Consolidated budget of Ukraine. Retrieved from index.minfin.com.ua/ua/finance/budget/cons/ [in Ukrainian].
28. Ministry of Finance of Ukraine. Revenues of the state budget of Ukraine. Retrieved from index.minfin.com.ua/ua/finance/budget/gov/income/ [in Ukrainian].
29. Ministry of Finance of Ukraine. Revenues of the consolidated budget of Ukraine. Retrieved from index.minfin.com.ua/ua/finance/budget/cons/income/ [in Ukrainian].
30. Ministry of Finance of Ukraine. Expenditures of the state budget of Ukraine. Retrieved from index.minfin.com.ua/ua/finance/budget/gov/expense/2020/ [in Ukrainian].
31. State Statistics Service of Ukraine. Operations of central state administration bodies. Retrieved from ukrstat.gov.ua/imf/arhiv/ocodu/ocodu_u_.htm [in Ukrainian].
32. Ministry of Finance of Ukraine. State budget of Ukraine. Retrieved from index.minfin.com.ua/ua/finance/budget/gov/ [in Ukrainian].
33. National Bank of Ukraine. Statistics of the external sector. The official exchange rate of the hryvnia to foreign currencies and indicators of the foreign exchange market of Ukraine. Retrieved from bank.gov.ua/ua/statistics/sector-external [in Ukrainian].
34. National Bank of Ukraine. Operational data: Review of deposit corporations (National Bank of Ukraine and banks). Retrieved from bank.gov.ua/ua/statistic/sector-financial#1ms [in Ukrainian].
35. National Bank of Ukraine. Macroeconomic indicators. Retrieved from bank.gov.ua/ua/statistic/macro-indicators#1 [in Ukrainian].
36. Cabinet of Ministers of Ukraine. In August 2022, the general fund of the state budget received UAH 204.6 billion. Retrieved from www.kmu.gov.ua/news/u-serpni-2022-roku-do-zahalnoho-fondu-derzhavnoho-biudzhetu-nadiishlo-2046-mlrd-hryven [in Ukrainian].
37. Operational Data Portal. Situation Ukraine Refugge. Retrieved from data.unhcr.org/en/situations/ukraine
38. World Bank. World Development Indicators. Retrieved from databank.worldbank.org/source/world-development-indicators/
39. World Bank. Poverty and Equity. Retrieved from databank.worldbank.org/source/poverty-and-equity
40. World Bank. Doing Business. Retrieved from databank.worldbank.org/source/doing-business
41. World Bank. Jobs. Retrieved from databank.worldbank.org/source/jobs
42. World Bank. Global Financial Development. Retrieved from databank.worldbank.org/source/global-financial-development
Events calendar
M | T | W | T | F | S | S |
---|---|---|---|---|---|---|
1 | ||||||
2 | 3 | 4 | 5 | 6 | 7 | 8 |
9 | 10 | 11 | 12 | 13 | 14 | 15 |
16 | 17 | 18 | 19 | 20 | 21 | 22 |
23 | 24 | 25 | 26 | 27 | 28 | 29 |
30 |