scholarly journals MECHANISMS OF ACTIVATION OF HOUSEHOLD INVESTMENT POTENTIAL IN UKRAINE: MACROECONOMIC ASPECT

2021 ◽  
Vol 4 (39) ◽  
pp. 349-361
Author(s):  
B. Pshyk ◽  
А. Sydorchuk ◽  
M. Adamyk ◽  
N. Meduna ◽  
R. Mykhalevych
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Developed Countries ◽  
Jel Classification ◽  
The State ◽  
Public Confidence ◽  
Internal Source ◽  
Active Involvement ◽  
Wide Range ◽  
Investment Process

Abstract. The savings of the population are an important internal source of investment potential of the state, due to which the national welfare of developed countries is formed. It is suggested to consider the investment potential of a household from the standpoint of their ability to save, tendency to save and intentions to transform non-consumer resources into investments. The analysis of the dynamics of income and expenses, deposits and contributions to private pension funds of the population of Ukraine in 2010—2020 allowed to identify limitations in the formation and effective use of investment potential of households: low wages and lack of financial resources for households to form their investment potential; preservation of significant savings of households outside the financial system; weak development of stock markets and non-bank financial services, insufficient level of coverage of the population; low level of trust in financial institutions; unformed mentality of investment in the domestic economy. An approach to stimulating public participation in the investment process has been developed, which provides for households an accumulation of their own savings in special accounts opened with banks and then direct these funds to investment and innovation projects implemented in those sectors of the economy that are of strategic and social importance for economic development of the national economy. The mechanism of creation and functioning of the Fund of compensation of investments of physical persons intended for compensation of the losses caused by professional investors is proved. To increase the activity of households to support social projects, measures are proposed to promote the idea of ​​creating endowment funds among domestic non-profit organizations and increase their attractiveness to potential investors and partners. The priorities of the state policy of activating the investment potential of households in Ukraine are formulated: providing conditions for expanding the investment potential of households through the growth of real incomes; development of a set of measures to provide guarantees for the participation of households in investment processes; creation of an effective system for attracting household savings to investment activities through a wide range of reliable and understandable for the average citizen financial mechanisms; increase of the level of financial literacy of Ukrainians in the context of their active involvement in investment processes in the financial market; restoring of public confidence in the national currency and the activities of financial intermediaries.  Keywords: households, investments, investment potential, savings, mechanism of savings transformation. JEL Classification D14, E20, G23, R28 Formulas: 0; fig.: 1; tabl.: 3; bibl.: 12.

scholarly journals Activities of Intelligence Services as a Synonymous of Fear and Intimidation

2015 ◽  
Vol 5 (2) ◽  
pp. 279
Author(s):  
MA. Fisnik Sadiku ◽  
MA. Besnik Lokaj
Keyword(s):  
National Security ◽  
Ethical Issues ◽  
Developed Countries ◽  
The State ◽  
Main Role ◽  
Security Environment ◽  
Intelligence Services ◽  
Clear Explanation ◽  
Security Challenges ◽  
Wide Range

Intelligence services are an important factor of national security. Their main role is to collect, process, analyze, and disseminate information on threats to the state and its population.Because of their “dark” activity, intelligence services for many ordinary citizens are synonymous of violence, fear and intimidation. This mostly comes out in theRepublicofKosovo, due to the murderous activities of the Serbian secret service in the past. Therefore, we will treat the work of intelligence services in democratic conditions, so that the reader can understand what is legitimate and legal of these services.In different countries of the world, security challenges continue to evolve and progress every day, and to fulfil these challenges, the state needs new ways of coordinating and developing the capability to shape the national security environment. However, the increase of intelligence in many countries has raised debates about legal and ethical issues regarding intelligence activities.Therefore, this paper will include a clear explanation of the term, meaning, process, transparency and secrecy, and the role that intelligence services have in analyzing potential threats to national security.The study is based on a wide range of print and electronic literature, including academic and scientific literature, and other documents of various intelligence agencies of developed countries.

scholarly journals An Empirical Analysis of the Impact of Agency Banking on Financial Inclusion in Benue State, Nigeria: Implications for Economic Activities

2022 ◽  
Vol 14 (2) ◽  
pp. 75
Author(s):  
David Terfa Akighir ◽  
Tyagher Margaret ◽  
Jacob Terungwa Tyagher ◽  
Tordue Emmanuel Kpoghul
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Structural Equation ◽  
Structural Equation Models ◽  
Survey Design ◽  
Secondary Data ◽  
The State ◽  
Financial Inclusion ◽  
Economic Activities ◽  
The Impact

Twelve (12) out of the Twenty-three (23) local government areas (LGAs) in Benue State do not have the presence of banks over a long period of time. This situation has deprived the inhabitants of these LGAs of access to formal financial services until the advent of agency banking. This study therefore, investigates the impact of agency banking on financial inclusion and economic activities in Benue State focusing on the agency banking activities of First Bank Ltd. The study is anchored on the agency theory and it used a survey design. The study has utilized both primary and secondary data that were analyzed using descriptive statistical tools and structural equation models. Findings of the study have revealed that agency banking activities of First Bank Ltd have immensely enhanced financial inclusion and economic activities in Benue State. However, challenges such as shortages of cash, security problems, network failures, and lack of financial literacy are militating against the smooth operations of the agency banking in the State. On the basis of these findings, the study has recommended among others that, other banks operating in the State should be encouraged to venture into agency banking in the state so as to have a wider coverage of agency banking in the State. Also, government should provide security and partner with the private sector to provide national carrier communication network system to overcome the network failure challenge. Finally, banks should intensify efforts to educate the masses about the validity and potency of agency banking.

scholarly journals State regulation of the securities market of the Republic of Kazakhstan

2021 ◽  
Vol 101 (1) ◽  
pp. 152-161
Author(s):  
R.K. Yelshibayev ◽  
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Government Regulation ◽  
State Regulation ◽  
Securities Market ◽  
Regulation System ◽  
Market Participants ◽  
Functional Capabilities ◽  
Wide Range ◽  
The Republic

Object: The purpose is to identify promising directions for the development of the securities market of the Republic of Kazakhstan and reform the system of its government regulation. Methods: The study used methods of empirical, subject-object, system, deductive and comparative analysis. Each of these methods was used adequately to its functional capabilities and resolving abilities for solving the corresponding stage research tasks. Findings: As a result of the research by the author:  features of the securities market as an object of government regulation are studied;  infrastructure support of the system of government regulation of the securities market of the Republic of Kazakhstan was examined;  assessment of the current state of the securities market of the Republic;  system problems of government regulation and market development are investigated;  promising areas of reforming the securities market of the Republic of Kazakhstan and its government regulation system are developed and scientifically substantiated. Conclusions: A shift of focus from problems of legal support of the system of government regulation of the securities market of the Republic of Kazakhstan to the problem of primary transparency and reliability of the market in terms of economic integration and global coronacrisis will allow achieving the following targets:  share market capitalization to GDP will double if new IPOs are held by corporate issuers;  RFCA will join the group of ten leading financial centers in Asia;  access to financial services for a wide range of consumers will be provided;  increase of financial literacy of the population, protection of interests of potential investors and safety of savings of market participants will be ensured.

A Cross Country Study of Financial Inclusion and Economic Development with Special Emphasis on India

2021 ◽  
pp. 11-24
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Empirical Relationship ◽  
Uttar Pradesh ◽  
Developed Countries ◽  
Financial Inclusion ◽  
Correlation And Regression Analysis ◽  
The North ◽  
North Eastern ◽  
Developed Nations

Policymakers generally associate financial inclusion with economic growth and poverty alleviation. This paper explores the empirical relationship between the Human Development Index (HDI) and Index of Financial Inclusion (IFI) across 128 countries using correlation and regression analysis in STATA. The study revealed their interdependence and showed that developed nations (with high incomes and HDI Ranks) had greater inclusion than less-developed countries. Other socioeconomic variables, including per-capita income, urbanization, and literacy rate, also exhibited a strong correlation. Hence, reducing inequalities and focusing on the inclusion of certain sections of society (especially rural, poor, women, and farmers) in the financial system is crucial. Structured programs by RBI, Government, and NGOs can help to improve financial literacy. Deeper penetration of financial services in specific states (Bihar, Uttar Pradesh, Jharkhand, and the North-Eastern States) and enhanced internet connectivity will also be helpful.

Financial behavior of households and its determinants

2019 ◽  
pp. 42-47
Author(s):  
Lidiya Dudynets ◽  
Hanna Holub ◽  
Roksolana Holub
Keyword(s):  
Financial Market ◽  
Financial Literacy ◽  
Financial Services ◽  
Economic Behavior ◽  
Financial Behavior ◽  
Financial Resources ◽  
Public Confidence ◽  
Compensatory Mechanisms ◽  
Low Level ◽  
Bank Card

The economic meaning of the term «financial behavior» has been researched. In this study, financial behavior is considered as a special type of economic behavior that is related to the actions of the population in the financial services market, which involves the mobilization, redistribution and investment of the population’s monetary resources. The classification of financial behavior of the population is considered. It should be classified on the basis of such features as the activity in the financial services market, the type of the result of financial behavior, the source of financial resources, the form of implementation, the instruments used in the financial services markets, the degree of risk, the propensity to innovate, the type of property of financial resources. The factors influencing financial behavior of households are analyzed, and the following types are distinguished: political, demographic, cultural, social, psychological, economic. The features of financial behavior of the population in Ukraine in comparison with other countries are determined. It has been established that the level of penetration of financial services is significantly lower than the world standards: on average, one Ukrainian has only one bank card and one current account in the bank, and the intentions of the population to save and invest are passive in nature. It is established that the greatest determinant of financial behavior, inclusiveness and literacy in Ukraine is the age and property status of financial services consumers. The problems, the solution of which will facilitate the increase of financial behavior of domestic households and their involvement in the financial market of Ukraine, are outlined. The main issues are as follows: 1) The absence of financial traditions and positive practices in financial activity in Ukraine, which is due to past historical development of the state; 2) Insufficient development of the financial market in terms of working with a private investor and limited supply of financial services to such clients; 3) Absence of the Institute of financial advisers; 4) The scope of application of compensatory mechanisms in the financial market; 5) Lack of effective tax incentives for citizen investments; 6) Low level of public confidence in financial intermediaries; 7) Disadvantages of providing market participants with the necessary financial information; 8) Low level of financial literacy of the population.

The role of the state in China’s post-disaster reconstruction planning: Implications for resilience

Urban Studies ◽  
2019 ◽  
Vol 57 (3) ◽  
pp. 525-545 ◽  
Author(s):  
Jiang Xu ◽  
Yiwen Shao
Keyword(s):  
The State ◽  
State Control ◽  
Online Questionnaire ◽  
Active Involvement ◽  
Role Of The State ◽  
Engineering Sciences ◽  
Wide Range ◽  
Context Specific ◽  
Reconstruction Planning

Rooted in natural and engineering sciences, the concept of resilience has attracted growing attention in social science and public policy. The evolving resilience paradigm assumes the concept is at odds with state control, and instead emphasises the coping capacities of communities and individuals. This assumption might overlook the multifaceted and context-specific nature of resilience. Drawing on an empirical study of state-led reconstruction planning, this article argues that it is the deep and active involvement of the state, rather than its retreat, that helps promote resilience building in China’s earthquake-hit areas. Through a combination of online questionnaire survey and interviews, the article assesses how the Chinese state mobilises and coordinates a wide range of state and non-state actors to enable communities to achieve different aspects of resilience, while also sometimes constraining them from doing so.

scholarly journals DIRECTIONS FOR IMPROVING THE INSURANCE MARKET REGULATION

2019 ◽  
Vol 2019 (7-8) ◽  
pp. 55-70
Author(s):  
Olga KLYMENKO ◽  
Keyword(s):  
Financial Services ◽  
Developed Countries ◽  
Legal Framework ◽  
The State ◽  
Insurance Market ◽  
Insurance Companies ◽  
Main Task ◽  
Market Regulation ◽  
Positive Direction ◽  
Further Development

The current state of the non-bank financial services markets is analyzed using the insurance market as an example. Features and directions of its development are revealed. The author considers the functioning of insurance companies in Ukraine’s market and insurance performance indicators for 2018 and early 2019. Based on the analysis, the problems of the insurance market activity that hinder its development are identified. Ukraine’s insurance market is gradually moving in a positive direction and has considerable potential for further development; however, it is still significantly inferior to similar markets in democratically and economically developed countries. The role of the insurance market in the socio-economic development of regions is researched. It is shown that the stability of functioning of the insurance services market directly depends on the state of Ukraine’s economy, GDP, and average wage and pension. The main factor limiting the rapid growth of this market is the low solvent demand of the population for insurance services. The specifics of the insurance market (along with consideration of this sector of non-banking financial services across the country), also requires detailing the nuances of the activities of entities operating in the regions of Ukraine.In order to increase the protection of consumers of insurance services, the state regulators need to take further measures to free the market from troubled, insolvent, and unscrupulous insurance companies, as well as to establish an economically justified level of remuneration for intermediaries and regulate their activity. The main task to develop the institutions of non-bank financial services, in particular, the insurance market, is to increase Ukrainian citizens’ trust in them, and to integrate the legal framework in this field into the European legislative system. It is shown that the main goals and objectives of further development of these markets in Ukraine are to increase their transparency, capitalization, and liquidity. The relevance of the assessment of the concentration of Ukraine’s insurance market and the concentration indicators are considered. The author analyses the relationship between the concentration of the market and the number of insurance companies on it. In order to improve the depth and reliability of the assessment of the concentration on Ukraine’s insurance market, it is proposed to introduce correcting coefficients to the limiting values of the Herfindahl-Hirschman index.

scholarly journals The Essence and Specific Characteristics of the Fiscal Mechanism for Regulating the Investment Development of the National Economy

2020 ◽  
Vol 9 (3) ◽  
pp. 78
Author(s):  
Viktoriia Rudenko ◽  
Ruslan Voloshchuk
Keyword(s):  
National Economy ◽  
Self Regulation ◽  
Developed Countries ◽  
The State ◽  
Market Mechanism ◽  
Investment Activity ◽  
Role Of The State ◽  
Investment Process ◽  
The Impact

The issues of the place and role of the state in the investment process has not lost relevance for many decades. Some scholars, appealing to the experience of developed countries, propose to minimize the role of the state in the investment sphere. This view is based on the fact that state participation cannot ensure a more efficient allocation of investment resources than a market mechanism of self-regulation. Other scholars believe that all the troubles in the economy are due to the fact that the state has minimized its influence on the investment sector, thereby causing a decrease in its activity. Obviously, both positions of scientists cannot be rejected mechanically. However, the practice of conducting investment activities in Ukraine has clearly shown that the state's departure from the investment sphere has actually cleared the way for anarchy and inconsistency in the investment process. At present, the state is obliged to influence investment activity by choosing effective means of its regulation, relying primarily on the fiscal mechanism. The article is devoted to the study of the essence of the fiscal mechanism for regulating the investment development of the national economy and the identification of its specific features. The specifics of the scientific tasks that are the subject of the study required the use of a set of special methods, the use of which helped to analyze the essence of the fiscal mechanism for regulating the investment development of the national economy and to highlight its specific characteristics. The etymology of the concept of “fisc” is considered in the article. Approaches to the interpretation of the term “mechanism” are highlighted. The economic meaning of the definition of “regulation” is substantiated. The essence of the fiscal mechanism for regulating the investment development of the national economy is determined. The specific features of the fiscal mechanism for regulating the investment development of the national economy are singled out and characterized. The study found that the impact of the fiscal mechanism on the investment development of the national economy is due to its specific characteristics and the focus of its components at solving specific problems and achieving a real effect due to financial resources that are formed, distributed and used to meet the investment needs of economic entities.  Keywords: fisc, mechanism, regulation, investment development, fiscal mechanism for regulating the investment development of the national economy

scholarly journals Assessment of the Relationship between the Banking System on the Financial Security of the State

2021 ◽  
Vol 26 (1) ◽  
pp. 55-63
Author(s):  
Tetiana Kubakh ◽  
◽  
Yevhen Rudenko ◽  
Keyword(s):  
Financial Stability ◽  
Banking Sector ◽  
Banking System ◽  
The State ◽  
Public Confidence ◽  
Internal Source ◽  
Financial Security ◽  
External Threats ◽  
The Impact ◽  
The Relationship

Annotation. Introduction. Permanent financial crises, currency fluctuations, inflation expectations, intensification of competition, increasing regulatory requirements for bank capital and risk reserves, military-political instability, globalization processes - all this is pressure for a stable financial condition of the banking system. Given the Anglo-Saxon structure of the financial market of Ukraine, banks are in fact the only internal source of capital for individuals and legal entities, which determines the importance of the impact of the banking system on the financial security of the state. In the conditions of dynamism of the modern world the question of preservation of reliability and efficiency of the modern bank becomes more and more actual. The issue of crisis prevention, threats, risks is given considerable attention in world practice, which is due to the need to maintain public confidence in banking institutions. The resilience of the banking system and its members to internal and external threats cannot be ensured without effective tools for control and influence by the regulator. The state is directly responsible for ensuring not only the stable development of the banking services market, but also the effective functioning of all components of the financial system. Timely analysis of indicators of financial stability of the banking system allows to identify the main problems in the activities of domestic banks and identify areas for their elimination, which will ensure the stability of economic development of the state. Purpose. The purpose of the article is to clarify the essence of the concepts of "financial stability of the banking system" and "financial security of the state", as well as to determine the relationship between financial stability of the banking system and financial security of the state. Results. It is determined that assessing the financial stability of the banking system is an important strategic task to ensure the financial security of the state. The interconnectedness and the place of financial stability of the banking system among such categories as stability, security, efficiency and reliability are substantiated. As a result of the calculation, the place of the banking component in the general structure of the financial security of the state was clarified. The analysis allowed to systematize the main threats to the financial security of the state, the source of which are the factors of the banking sector

scholarly journals Efficiency of the civil service system as a factor of sustainable development of society

2021 ◽  
Vol 13 (1) ◽  
pp. 25-33
Author(s):  
Kyrylo Yesennikov
Keyword(s):  
Sustainable Development ◽  
Political Trust ◽  
Developed Countries ◽  
Practical Aspect ◽  
The State ◽  
Social Progress ◽  
Public Confidence ◽  
The Government ◽  
Government Workers ◽  
The Impact

The purpose of the article is comprehensively study the impact of the effectiveness of government workers on the process of sustainable development of society and the state. Namely, it is about the importance of skillful use of human resources in the government service and the search for arguments in favor of the need to increase efficiency as a guarantee of increasing public confidence in all branches of government. Special attention is also paid to the issue of argumentation of the level of salary of a person who is a government worker or works in local self-government bodies. Empirical data were analyzed using quantitative and qualitative methods, which helped to assess the effectiveness of government workers in Ukraine and the level of public confidence in them, to establish the impact of their ineffective activities on the level of public confidence in government administration. A key aspect of improving the efficiency of government workers, as shown by theory and international practice, is the creation of an objective and comprehensive system of indicators that reflect the quality of performance of duties and the degree of achievement of goals to focus on the main priorities of public authorities. In many developed countries, "key performance indicators" (KPI), proposed by P. Drucker, are widely used for these purposes. However, there are other assessment methods such as BSC and PBSC. The scientific novelty of the article is an attempt to analyze an array of information on the issue of "efficiency of government workers", methods of its evaluation and to connect "efficiency" with the phenomenon of building confidence in politics or "political trust". The work is created to try to demonstrate the practical aspect of the need to measure the effectiveness of officials at all levels based on the position of "social dialogue" and "feedback", because the most important consumers of the results of officials - a society that in everyday life becomes a user and consumer of government services. And according to the results of interaction - form their opinion about the state apparatus of officials and the effectiveness of their work form their position, which later becomes a stereotype. Which will either help social progress and development, and create conditions for stability in the state, or, conversely, will be a catalyst for political instability.

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