scholarly journals Priority Threats to Financial Security in the conditions of the Modern Economy Transformation

2020 ◽  
Vol 24 (1) ◽  
pp. 157-163
Author(s):  
A. Poltorak ◽  
◽  
M. Kazemyrchyk ◽  
A. Polishchuk ◽  
◽  
...  
Keyword(s):  
Shadow Economy ◽  
Negative Impact ◽  
The State ◽  
Retail Trade ◽  
Objective Probability ◽  
Financial Security ◽  
Optimal Method ◽  
Factors Influencing ◽  
Modern Economy ◽  
The Impact

Abstract. Introduction. The shadow economy is one of the main threats to the financial security of the state. Strengthening Ukraine’s economy is impossible without reducing the level of shadowing. Official data show that at the beginning of 2020 more than a quarter of GDP is in the shadows, but the real level of shadowing, in our opinion, is much higher. Purpose. The aim of the article is to deepen the theoretical and methodological foundations of substantiation of priority threats to financial security in the conditions of transformation processes in the modern economy, clarification of the optimal method of calculating the shadow economy in Ukraine and monitoring the impact of the shadow sector on financial security of Ukraine. Results. It was found that the system of threats to the financial security of Ukraine includes trends, phenomena and factors that actually or potentially complicate or make it impossible to preserve national values ​​in the financial sphere and the realization of national interests of Ukraine. Threats to security conditions are considered as certain factors or factors that create a danger, namely the existing and objective probability of negative impact on a complex system. Our own view on the classification of factors influencing the level of financial security is presented. It is noted that most often the factors influencing the level of financial security are interrelated, causing cyclical poverty and a permanently low level of financial security. It is analyzed that today the level of the shadow economy is 25-50%. To create the necessary conditions for reducing the level of the shadow sector of Ukraine’s economy, it is necessary to carry out a number of tax reforms, transformations in the banking system (to increase non-cash transactions, create an open database of NBU and MFIs), anti-corruption measures and more. Systematizing the methodological approaches to the assessment of the shadow sector, it was found that the main methods of assessing the level of the shadow sector are: public expenditure – retail trade; electric; unprofitable enterprises; monetary; method of minimal shadow economy. Conclusions. It is proved that the level of financial security of the state decreases with increasing level of shadow economy. This is due to the reduction of the tax base and, consequently, to the reduction of tax revenues to the budgets of all levels. Keywords: financial security; financial security of the state; financial security of households; transformational economy; shadow economy.

scholarly journals THE INFLUENCE OF THE SHADOW ECONOMY ON THE SOCIO-ECONOMIC DEVELOPMENT OF UKRAINE

2021 ◽  
Author(s):  
Yuliia Romanovska ◽  
Lily Strapachuk
Keyword(s):  
Economic Development ◽  
Shadow Economy ◽  
Negative Impact ◽  
Economic Security ◽  
The State ◽  
State Budget ◽  
Socio Economic Development ◽  
High Inflation ◽  
High Level ◽  
The Impact

The article considers the approaches to the interpretation of the category "shadow economy", which causes a variety of approaches to assessing the impact of the shadow economy on the socio-economic development of Ukraine. The spread of the pandemic and the complication of economic conditions, formed as a result of the introduction of forced restrictive measures, have led to the growth of the shadow economy in Ukraine. The index of shadowing of the economic sphere in relation to the inflation index and the level of the state budget deficit has been studied. The factors that led to the shadowing of the economy and caused the growth of the share of the shadow sector in the economy of Ukraine are highlighted. The main components of shadow employment are identified. Business entities operating in the shadow sector have significantly more competitive advantages and much higher efficiency than legally operating businesses. As a result, such enterprises are an obstacle to the flow of funds to the budgets of all levels of the country, and as a consequence, have a negative impact on socio-economic development in general. In recent years, state budget expenditures have been growing too slowly, which indicates a high level of shadowing of the economy in conditions of high inflation and, consequently, negatively affects the socio-economic security of society. Budget expenditures are closely linked to public policy, which allows the state to curb the level of economic shadowing through measures to reform relevant areas. It is investigated that the State budget expenditures grow too slowly, which indicates a high level of shadowing of the economy in conditions of high inflation. The paper substantiates the reasons for the growth of the shadow economy and identifies the main measures to reduce shadow employment, the manifestations of which are the deformation of social and economic institutions of the state. The de-shadowing of the economy provides citizens with the right to social protection, in the form of social guarantees in case of unemployment, temporary incapacity for work, accidents or occupational diseases during official work, pensions, etc.

scholarly journals SHADOW ECONOMY AS A THREAT TO UKRAINIAN ECONOMY'S SECURITY: METHODS OF MEASUREMENT AND SCALE ASSESSMENT

2021 ◽  
pp. 22-30
Author(s):  
Tetiana Shepel ◽  
Hanna Kostovyat
Keyword(s):  
Shadow Economy ◽  
Negative Impact ◽  
State Level ◽  
Economic Security ◽  
The State ◽  
Estimation Methods ◽  
Public Authorities ◽  
Study Results ◽  
Mathematical Justification ◽  
The Impact

Purpose. The aim of the article is research of the essence of the shadow economy and assessment of the scale of the threat of shadowing the economy to the state's economic security. Methodology of research. The study uses methods of scientific generalization to clarify the content of the shadow economy, its features; logical methods made it possible in the conditions of incomplete initial information to determine the current state of national economic security and the dynamics of the shadow economy; the method of comparative analysis allowed us to assess the dynamics of the shadow economy. Findings. Five methods have been used to measure the impact of the shadow economy on economic security, based on a comparison of financial performance, service delivery, energy consumption, and economic financing. Based on four methods, the integrated indicator of the shadow economy was determined, which in 2020 amounted to 30%, which confirms the threatening impact of the shadow economy on the state's economic security. The direct relationship between the shadow economy and the integrated indicator of economic security is considered. The negative impact of the shadow economy on the state's economic security has been confirmed through the use of statistical methods. It is established that with the increase of the shadow economy, financial security weakens. It is concluded that at the state level, it is necessary to solve the most serious problems affecting the level of economic security of the state and not to formally fight against small entrepreneurs who provide self-employment and support the economy during the crisis. Originality. The study provides an economic and mathematical justification for the possibility of positioning the shadow economy as an integral indicator of the economic security of the state. It was proved for the first time that there is a close interrelation between the integrated indicator of the shadow economy and the integrated indicator of economic security of the state, which allows determining the formula for the level of economic security depending on the level of shadow economy with high probability (91%). Practical value. The study results allow statistical and analytical institutions to assess the state's economic security in accordance with the level of the shadow economy, reflecting the results of the analysis in the reports on the results of public authorities and the economy. Key words: shadow economy; economic security; economic freedom; level of the shadow economy; estimation methods.

scholarly journals Analysis of threats spread of Ukraine financial security in a pandemic

2020 ◽  
pp. 85-94
Author(s):  
Svitlana Onyshchenko ◽  
Oleksandra Maslii ◽  
Yevhenii Kalenichenko ◽  
Marіna Kotelevets
Keyword(s):  
Shadow Economy ◽  
Negative Impact ◽  
General System ◽  
Maximum Level ◽  
Financial Security ◽  
Social Phenomena ◽  
Global Challenge ◽  
Financial Condition ◽  
Business Entities ◽  
The Impact

Theoretical principles of financial security and its place in the general system of the national economy were covered. It is noted that from the standpoint of the protective approach the key category of financial security is the threat, the source of which is the uncertainty caused by the properties of social phenomena and processes. The economic essence of threats was revealed and their impact on the financial security of business was characterized. The main destructive factors of the shadow economy and corruption on financial security were studied and the reasons for their spread in Ukraine were highlighted. Trends in the level of financial security in the context of comparing it with regulatory values were analyzed. It is proved that the global challenge to financial security of business and the state as a whole is the COVID-19 pandemic, which is a catalyst for real and potential threats with the maximum level of impact on the financial condition and financial results of business entities in modern conditions. Corruption and the shadow economy were considered according to different methodological approaches, as well as on the basis of correlation-regression analysis. The relationship between the impact of corruption and the shadow economy on the level of financial security of Ukraine has been determined. A high direct linear relationship between the levels of financial security of Ukraine and the shadow economy and corruption was detected. The impact of threats on the financial security of business in Ukraine in a pandemic was analyzed and assessed. It is proved that development of business and ensuring its target parameters of financial security in a crisis would minimize the negative impact of modern threats associated with quarantine restrictions. The priority directions of minimization of threats to financial security of business in the conditions of epidemic danger were defined. It is proved that adaptive management in the face of real threats can minimize financial risks for business and create a foundation for further business development in the post-crisis period, when the impact of the threat would be reduced.

IMPACT OF GOVERNMENT DEBT ON FINANCIAL SECURITY OF UKRAINE

2017 ◽  
Author(s):  
Olena Pikaliuk ◽  
◽  
Dmitry Kovalenko ◽  
Keyword(s):  
Economic Development ◽  
Public Debt ◽  
Positive Impact ◽  
The State ◽  
Financial Security ◽  
State Budget ◽  
The Public ◽  
Debt Security ◽  
The Stability ◽  
The Impact

One of the main criteria for economic development is the size of the public debt and its dynamics. The article considers the impact of public debt on the financial security of Ukraine. The views of scientists on the essence of public debt and financial security of the state are substantiated. An analysis of the dynamics and structure of public debt of Ukraine for 2014-2019. It is proved that one of the main criteria for economic development is the size of public debt and its dynamics. State budget deficit, attracting and using loans to cover it have led to the formation and significant growth of public debt in Ukraine. The volume of public debt indicates an increase in the debt security of the state, which is a component of financial security. Therefore, the issue of the impact of public debt on the financial security of Ukraine is becoming increasingly relevant. The constant growth and large amounts of debt make it necessary to study it, which will have a positive impact on economic processes that will ensure the stability of the financial system and enhance its security.

scholarly journals COVID-19 pandemic impact on dentists in Latin America’s epicenter: São-Paulo, Brazil

PLoS ONE ◽  
2021 ◽  
Vol 16 (8) ◽  
pp. e0256092
Author(s):  
Tatiane Fernandes Novaes ◽  
Maisa Camillo Jordão ◽  
Carlos Felipe Bonacina ◽  
André Oswaldo Veronezi ◽  
Carlos Ariel Rodrigues de Araujo ◽  
...  
Keyword(s):  
Health Care ◽  
Low Income ◽  
Health Care Professionals ◽  
Negative Impact ◽  
Sao Paulo ◽  
The State ◽  
Financial Impact ◽  
São Paulo ◽  
Ordinal Logistic Regression Analysis ◽  
The Impact

The state of São Paulo, Brazil, where more than 94.000 dentists are currently registered, has become the epicenter of COVID-19 in Latin America. The aim of this cross-sectional study was to evaluate the impact of COVID-19 pandemic on dentists in this state. A semi-structured questionnaire was sent via e-mail to 93.280 dentists with active registration in the Dental Council of São Paulo (CROSP). The impact of COVID-19 pandemic was assessed through questions related to demographic, socioeconomic, dental practice characteristics and personal protective equipment (PPE) use. Ordinal logistic regression analysis was performed to investigate the association between all the variables (p<0.05). Over 8 days, 2113 responses were received. Only 26.52% of the sample reported a low-income reduction (from 0–10%), while the majority of dentists reported a more negative financial impact, 35.6% with a reduction of more than 50% of their monthly income. Dentists who worked in the private sector and at the capital had a greater financial impact when compared to those of the public sector and countryside of the state (p<0.05). Furthermore, about 83% reported not having received any specific training to control the transmission of coronavirus in the health area. This study provides evidence of the negative impact of the COVID-19 pandemic on the routine of dentists in the state of São Paulo, Brazil. Hopefully, this study will help dental and other health care professionals to better understand the consequences of disease in dental settings and strengthen preparedness throughout the dental health care system.

scholarly journals Formation of an Innovative Business Model of a Trade Organization in the Context of Economic Globalization

2021 ◽  
Vol 24 (6) ◽  
pp. 92-98
Author(s):  
Pavlo Hrynko ◽  
Alla Grinko ◽  
Tatyana Shtal ◽  
Hanna Radchenko ◽  
Mariia Pokolodna
Keyword(s):  
Business Models ◽  
State Regulation ◽  
The State ◽  
Retail Trade ◽  
External Factors ◽  
Business Strategies ◽  
Sharp Change ◽  
Innovation Potential ◽  
Innovation Activities ◽  
The Impact

The development of Ukrainian trade organizations in ordinary conditions is characterized by a high degree of inertia. Therefore, when situations that need to change arise, business strategies of market participants also change dramatically. Most often, such transformations are connected with external factors, such as the overall economic crisis, a sharp change in the state “rules of the game” in a particular sector of economic relations, as well as another external factor bond to the occurrence of new serious competitors. The development of organizational and economic mechanism to ensure the innovative development of retail trade, requires comprehensive consideration of internal and external factors of the studied system, the formation of strategies and programs to increase the innovation potential of its participants, their active interaction, increasing the use of innovative technologies, generating ideas and transformations. The article considers the issues related to the impact of business globalization processes on the transformation of business models of trade organizations and their operation strategy, as the degree of trade development indicates the standard of living and the state of the economy and society. The authors of the article suggest that retail organizations adapt to the changes in the macro and micro environment, using innovative components in economic and financial activities, which will ensure their competitiveness and prevent crises. The proposed model of an innovative trade organization allows to identify the goals components of innovation activities, which combine the strategic guidelines of the state regulation and help to improve the economic condition of trade organizations

Economic expertise as a tool to counter the shadow economy

2021 ◽  
pp. 131-136
Author(s):  
С.В. Банк ◽  
В.Ф. Вакуленко
Keyword(s):  
Shadow Economy ◽  
Negative Impact ◽  
Economic Security ◽  
The State ◽  
Large Percentage ◽  
Economic Situation ◽  
Public Finances ◽  
Economic Relations ◽  
Current State ◽  
Almost All

Теневая экономика проникает практически во все экономические сферы жизнедеятельности общества. Она включает в себя различные экономические отношения, которые находятся за рамками закона в областях производства, потребления, обмена и распределения. Воспрепятствование теневой экономике, предстающей одной из базовых угроз экономической безопасности страны, есть необычайно актуальное явление в настоящее время. Современное состояние сектора теневой экономики в России весьма динамично развивается, что влечет за собой негативное воздействие на социально-экономическое положение государства. В основном, это относится к представителям малого и среднего бизнеса, который занимается предоставлением услуг и производством разнообразных товаров. Актуальность избранной тематики заключается в том, что сейчас в России большой процент теневых доходов, тогда, как эти деньги могли быть направлены на становление и развитие МСП, особенно во времена обостренной пандемии, что позволило бы минимизировать экономическую напряженность и нарастить результативность государственных финансов. The shadow economy penetrates almost all economic spheres of society. It includes various economic relations that are outside the scope of the law in the areas of production, consumption, exchange and distribution. The obstruction of the shadow economy, which appears to be one of the basic threats to the economic security of the country, is an extremely relevant phenomenon at the present time. The current state of the shadow economy sector in Russia is developing very dynamically, which entails a negative impact on the socio-economic situation of the state. This mainly applies to representatives of small and medium-sized businesses that provide services and produce a variety of goods. The relevance of the chosen topic lies in the fact that now there is a large percentage of shadow income in Russia, while this money could be used for the formation and development of SMEs, especially during times of an acute pandemic, which would minimize economic tension and increase the effectiveness of public finances.

scholarly journals Tax Policy and Income Inequality in the Visegrad Countries

2015 ◽  
Vol 61 (6) ◽  
pp. 12-18
Author(s):  
Anna Moździerz
Keyword(s):  
Income Inequality ◽  
Tax Policy ◽  
Negative Impact ◽  
The State ◽  
Consumption Tax ◽  
Tax Reforms ◽  
Tax Rate ◽  
Recent Financial Crisis ◽  
The Impact ◽  
Visegrád Countries

Abstract The financialisation of economies is believed to be the primary cause of the increase in income inequality in the world, occurring on a scale unseen for more than 30 years. One can hypothesise that it is the state that is responsible for the widening inequality, as the state has not sufficiently used the redistributive function of taxation. The purpose of this paper is to study the impact of tax policy on income inequality in Poland, the Czech Republic, Slovakia and Hungary. These so-called Visegrad countries have, in the last several years, carried out some controversial experiments with tax policy, specifically in terms of the flattening of tax progressivity or its replacement with a flat tax, which led to the weakening of the income adjustment mechanism. The imbalance between income tax and consumption tax has contributed to perpetuating income inequality. The verification of tax systems carried out during the recent financial crisis has forced the countries included in this research to implement tax reforms. The introduced changes caused various fiscal and redistributive effects. Analyses show that the changes in income taxation and an increase in the consumption tax rate had the most negative impact on the income and asset situation in Hungary.

Prominent demotivational factors influencing the productivity of construction project managers in Qatar

2014 ◽  
Vol 63 (8) ◽  
pp. 1070-1090 ◽  
Author(s):  
Abdulaziz M. Jarkas ◽  
Milan Radosavljevic ◽  
Liu Wuyi
Keyword(s):  
Construction Project ◽  
Project Managers ◽  
The State ◽  
Relative Importance ◽  
Productivity Level ◽  
Content Type ◽  
Factors Affecting ◽  
Factors Influencing ◽  
Technical Specifications ◽  
The Impact

Purpose – An extensive search of the literature revealed a dearth of research on the demotivational factors affecting the performance and productivity level of site-based construction project managers. Following the announcement of awarding the FIFA 2022 World Cup hosting rights to the State of Qatar, the State is pledging to spend tens of Billions of Dollars on hundreds of new construction projects. Therefore, the purpose of this paper is to identify, explore, and rank the relative importance of the demotivational factors influencing the productivity of the State's construction management force. Design/methodology/approach – A structured questionnaire survey comprising 38 potential demotivational factors, which were shortlisted based on relevant previous studies on the impact of motivation on construction productivity, and numerous interviews with local industry professionals, was distributed to a relatively large sample of site-resident project managers. Using the “Relative Importance Index” technique, the influence ranks of the factors explored were determined. Findings – The results obtained reveal the following as the prominent demotivational factors influencing the productivity of construction project managers: lack of financial incentive schemes; slow decision-making process by owners; remuneration scale; delay in responding to Requests For Information (RFI); shortage of skilled labour force; shortage of materials; clarity and completeness of technical specifications; frequent changing orders during execution; drawings quality level; and rework. Research limitations/implications – It is clear, based on the outcomes, that the cultural background of individuals, and the prevalent practices within the environment in which they operate, are two critical factors in determining their motivation drivers. Hence, it is prudent to explore the dominant culture and values of the management workforce, in addition to the characteristics of the working environment, before trying to apply relevant motivational theories, or even implement new management strategies. Practical implications – The results demonstrate that, within the geographical setting and cultural aspects of the sample surveyed, “tributes” and “pecuniary” may be interpreted to have the largest effect on the productivity of construction project managers. Originality/value – The findings not only contribute to the overall body of knowledge related to the effect of the motivation phenomenon on the productivity of the construction operation, but can also be used to provide industry practitioners with guidance for focusing, acting upon, and controlling the significant demotivational factors affecting the efficiency of the construction project management force practicing in State.

scholarly journals Mutual effect of labour market development and COVID-19 pandemic progression

2021 ◽  
Vol 83 (1) ◽  
pp. 421-428
Author(s):  
N. V. Shishkina ◽  
E. A. Mamistova ◽  
T. V. Sabetova
Keyword(s):  
Labor Market ◽  
Negative Impact ◽  
Mutual Effect ◽  
The State ◽  
Social Consequence ◽  
Staff Retention ◽  
Current Events ◽  
The Moment ◽  
High Level ◽  
The Impact

This paper tackles the economic impacts of COVID-19 pandemic on the labor markets and human capital. Specifically, it looks into the issues the pandemic brought upon the human resources and personnel during coronavirus lockdowns. The high level of globalization characteristic of the modern economy has only exacerbated the negative impact of the pandemic. At the moment, it remains impossible to assess the qualitative and quantitative parameters of the damage caused to the economies of countries and regions by this event. However, it is possible to identify the main directions of analysis of the consequences of the pandemic, including in terms of the impact on the state of the labor market, which was the main goal of this study. In particular, the authors highlight a number of consequences, the work on overcoming which is still to be done by the Russian socio-economic system. The most obvious of them is the growth of unemployment, the release of part of the employed and the reduction in the number of jobs, and this is observed extremely unevenly across the sectors of the economy. Nevertheless, the authors point out that the problem of staff release is aggravated by the size of the share of informal employment in the labor market, especially in the sectors of public catering, leisure and tourism that have been most affected by the pandemic. As the second important problem, the authors point to ineffective staff reduction, the dismissal of useful and valuable employees of some organizations while maintaining an unnecessarily bloated staff of others. It also mentions the reasons and forms of staff retention, some of which, being either forced or economically and technologically attractive, give rise to additional problems. The authors call an important social consequence of the pandemic a reduction in the number and level of personal contacts in society, in particular, in working groups. As a result, the author's vision of the long-term consequences of current events for the state of the labor market, employment of the population and the economy as a whole is proposed.)

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