STATE REGULATION OF THE FINANCIAL SERVICES MARKET IN UKRAINE

2018 ◽  
Vol 1 (12) ◽  
pp. 30-47
Author(s):  
Lyudmila Nikolayevna Akimova ◽  
Alla Vasilievna Lysachok
Keyword(s):  
Financial Services ◽  
Legal Regulation ◽  
State Regulation ◽  
The State ◽  
Compensatory Mechanisms ◽  
Existing Problems ◽  
Insurance Contracts ◽  
State Pension

The essence of such concepts is “financial service”, “financial services market”, and “participants of the financial services market”; determined the purpose of state regulation of the financial services market; forms of state regulation of the financial services market; financial services that are present in the financial services market; the structure of state regulation bodies of the financial services market in Ukraine is given; The role of state bodies in the regulation of the financial services market was studied; to characterize the regulatory legal regulation of the financial services market in Ukraine; the main problems of functioning of the domestic market of financial services are revealed; ways to solve existing problems. It is grounded that the state regulation of financial services markets consists in the state’s implementation of a set of measures aimed at regulating and overseeing financial services markets to protect the interests of financial services consumers and preventing crisis phenomena. It is concluded that the financial services market is an important element of the development of the economy as a whole, in particular, it concerns not only the state but also society. We must understand that when this market is settled, that is, all bodies that carry out state regulation are competent in their powers, only then will we make informed, effective decisions about the normal and effective functioning of the RFP. It is important that the data of the subjects of control do not overlap, their activities should be fixed at the legislative level. It is also worth bearing in mind that appropriate conditions must be created to create compensatory mechanisms in the financial services markets by developing a system for guaranteeing deposits and providing for payments under long-term life insurance contracts, non-state pension provisions, deposits with deposit accounts to credit unions, etс.

STATE REGULATION OF THE FINANCIAL SERVICES MARKET IN UKRAINE

2018 ◽  
Vol 1 (11) ◽  
pp. 30-47
Author(s):  
Lyudmila Nikolayevna Akimova ◽  
Alla Vasilievna Lysachok
Keyword(s):  
Life Insurance ◽  
Financial Services ◽  
Credit Unions ◽  
State Regulation ◽  
The State ◽  
Existing Problems ◽  
Insurance Contracts ◽  
State Pension

The essence of such concepts is “financial service”, “financial ser- vices market”, and “participants of the financial services market”; determined the purpose of state regulation of the financial services market; forms of state regu- lation of the financial services market; financial services that are present in the financial services market; the structure of state regulation bodies of the financial services market in Ukraine is given; The role of state bodies in the regulation of the financial services market was studied; to characterize the regulatory le- gal regulation of the financial services market in Ukraine; the main problems of functioning of the domestic market of financial services are revealed; ways to solve existing problems. It is grounded that the state regulation of financial ser- vices markets consists in the state’s implementation of a set of measures aimed at regulating and overseeing financial services markets to protect the interests of financial services consumers and preventing crisis phenomena. It is concluded that the financial services market is an important element of the development of the economy as a whole, in particular, it concerns not only the state but also society. We must understand that when this market is settled, that is, all bodies that carry out state regulation are competent in their powers, only then will we make informed, effective decisions about the normal and effective functioning of the RFP. It is important that the data of the subjects of control do not overlap, their activities should be fixed at the legislative level. It is also worth bearing in mind that appropriate conditions must be created to create compensatory mecha- nisms in the financial services markets by developing a system for guarante- eing deposits and providing for payments under long-term life insurance contracts, non-state pension provisions, deposits with deposit accounts to credit unions, etс.

scholarly journals Features of construction of the model socially oriented national economy

2020 ◽  
pp. 48-55
Author(s):  
Оlena Golovnya ◽  
Iryna Kinash
Keyword(s):  
Economic Development ◽  
Public Sector ◽  
Economic System ◽  
National Economy ◽  
State Regulation ◽  
The State ◽  
Social Orientation ◽  
Economic Mechanism

The background of the development of the model of economic development of Ukraine in the context of social orientation has been analyzed taking into account the interdependent influence of the mechanism of market relations and economic policy of the state. It is researched that the economic mechanism of socially oriented market economy contains organizational structure of production (vertical and horizontal), specific forms of functioning of economic system (state and non-state regulation of the market), as well as a specific institutional base (including its legislative component). The constituents of the economic system are entities formed by large economic entities (eg financial corporations). The authors argue that the economic mechanism of a socially oriented national economy is a complex structure and system of interconnections and includes: a) a system of balanced markets; b) public sector of economy; c) large economic structures that fulfill the regulatory role of the state for the economy as a whole and at the same time increase the market sensitivity to medium and long-term programs of its development; d) public sector administrative and production subsystem; e) system of operative state regulation of economy; e) a budget-balancing system with a powerful core; g) regulatory framework governing mid-market processes. The study states that Ukraine, in rather difficult conditions, produces the parameters of its own national model of socio-economic development for the long term. The country has not yet formulated or implemented an effective model of economic development that would fully reflect its national characteristics and interests and become a macroeconomic basis for effective state regulation It is determined that in the conditions of construction of a new model of the national economy the role of non-governmental and charitable organizations is increasing. The role of non-governmental organizations, which represent one of the most optimal legal forms to assist citizens in solving their common problems, upholding common interests, is a compulsory attribute of the model of socially oriented national economy.

scholarly journals Strengthening the role of public governance approaches to ensure sustainable economic growth

Upravlenets ◽  
2021 ◽  
Vol 11 (6) ◽  
pp. 15-27
Author(s):  
Mikhail Ershov ◽  
Anna Tanasova ◽  
Elena Sokolova
Keyword(s):  
Economic Growth ◽  
Structural Changes ◽  
State Regulation ◽  
Public Governance ◽  
Existing Problems ◽  
Role Of The State ◽  
The Government ◽  
Sustainable Economic Growth

The COVID-19 pandemic has formed a fundamentally new environment in both the global and Russian economies. The scale of problems that countries have to deal with significantly enhances the role of the state in the functioning of the economy and requires active government intervention to stabilize the situation and overcome the crisis. The article analyzes the role of state regulation and monetary authorities in the crisis environment in Russian and global economies. Methodologically, the study relies on the theory of institutionalism, Keynesian and neo-Keynesian economics, monetarism and industrialization. Qualitative methods of analysis, as well as retrospective and system-based methods and cross-country comparisons are applied in the research. The authors emphasize that the quality of these interventions is becoming increasingly important. In the Russian Federation, the economic situation is aggravated by the pre-existing problems, such as low business activity. We analyze the measures to support the Russian economy that are aimed, among other things, at the formation of long-term structural changes. Despite the fact that the introduction of the government approaches to counteract the crisis in 2020 will help to mitigate the current acute situation, they will not be able to lay solid foundations for further sustainable economic growth, since system-based mechanisms are still not provided for forming long-term affordable financial resources that are necessary for investment. The paper develops concrete approaches for providing the economy with long-term money, which embrace the formation of the resources on an internal basis amid the interaction of the Central Bank and the Ministry of Finance. We stress the powerful role of mechanisms for government departments’ coordination.

scholarly journals The Ways to Improve the Mechanism of the State Regulation of the Compulsory Accumulative Pension Provision

2020 ◽  
Vol 12 (515) ◽  
pp. 347-354
Author(s):  
Y. О. Malyshko ◽  
Keyword(s):  
Pension System ◽  
Current System ◽  
State Regulation ◽  
The State ◽  
Evaluation Procedure ◽  
Investment Projects ◽  
Administrative Costs ◽  
Effective Development ◽  
State Pension

The article is aimed at identifying the ways to improve the mechanism of the State regulation of compulsory accumulative pension provision. Both the effective development and the ways to improve the introduction of compulsory accumulative pension provision are analyzed. A financial cluster of the subjects of pension system is built up. The association of pension system subjects of Ukraine into a financial cluster will accelerate the full functioning of all levels of pension provision. The core of the cluster is the levels of the pension system. The main risks on the ways to improve the mechanism of the State regulation of compulsory accumulative pension provision are identified, namely: long-term investment; diversification of sources of coverage of the risk of disability; ensuring financial sustainability and balance; valuation of assets; corruption schemes of money laundering of pension assets; shadow economy of Ukrainian enterprises; audit and actuarial evaluation; procedure for accrual and the level of pension payments. The hierarchy of risk impact on the ways to improve the mechanism of the State regulation of compulsory accumulative pension provision is built up, where the risk of long-term investment holds the highest level. The following ways of improving the mechanism of the State regulation of compulsory accumulative pension provision are proposed: monitoring of elements of accumulative, redistribution and the State-based funding; introduction of the possibility of using investment projects of the financial market; improvement of the current system of the non-State pension provision, focused on protecting pension savings from the risks of a non-State pension fund; reducing socio-economic risks by increasing employment, increasing incomes of citizens, exercising the State supervision and controlling the diversification of financial instruments, balancing the financial resources of citizens through the reduced administrative costs.

Features of interaction of the state and transnational companies

2020 ◽  
pp. 56-63
Author(s):  
Poradenko Оlena
Keyword(s):  
Global Economy ◽  
System Analysis ◽  
Legal Regulation ◽  
The State ◽  
High Tech ◽  
Negative Consequences ◽  
Transnational Companies ◽  
Expert Assessments

The purpose of the article is to assess the global experience of TNCs in stateinvestment processes. The instruments of state influence on the activities of TNCsare characterized. It is shown that the legal regulation of the activities of TNCsis impossible without resorting to international legal sources of regulation offoreign direct investment. the research methodology consists in using a combinationof methods: expert assessments, comparative and system analysis. The indicatedmethodological approach made it possible to analyze the strengths and weaknessesof the interaction between the state and TNCs and, through them, justify the useof a specific strategy. the scientific novelty of the results obtained is to determinethe role of TNCs in the world economy and countries’ politics, given in particularthe positive and negative consequences of their activities and the fact that theemergence of such international corporations is a logical step in the developmentof the international economy and is a necessary stage in the modern reorganizationand development of the country’s economy. conclusion. In the current stage ofeconomic development, government influence is necessary to maintain andredistribute investment flows to high-tech sectors related to the development ofindustries, which will increase the long-term international competitiveness of TNCsin the markets of global economy sectors.

Employment relationships in the public sector – a balance between the state, local and autonomous regulations

2013 ◽  
Vol 11 (3) ◽  
pp. 497-512
Author(s):  
Zvone - Vodovnik
Keyword(s):  
Public Sector ◽  
Legal Regulation ◽  
State Regulation ◽  
The State ◽  
Labour Law ◽  
Essential Information ◽  
Effective Prevention ◽  
Employment Relationships ◽  
The Public

This article analyses the role of the state as well as the roles of the regional and local authorities in the legal regulation of employment relationships with special attention on the public sector. The objective of this article is to identify the principles of international law that may serve as the demarcation line between the authoritative state regulation of employment relationships in the public sector and other kinds of regulation of these relationships. The main goal of the research is to present and evaluate the central international legislative acts with the aim to identify principles that can serve as a tool for evaluating the internal legislative processes. The main finding of the research is that the collective labour law of the public sector may not be proclaimed as being wholly in accordance with the modern labour law principles and standards, namely, that the important value of the freedom of collective bargaining is missing as are mechanisms for the effective prevention and resolution of collective labour disputes. In this regard, this article emphasises the role of decentralised social dialogue in the public sector including local levels, which is not present in Slovenia; however, the article may provide essential information, especially in the area of conflict prevention and resolution between public authorities and civil servants.

THE ROLE OF COMMERCIAL BANKS IN THE SECURITIES MARKET AND THE CURRENT STATE OF THE STATE SECURITIES MARKET IN KYRGYZSTAN

2020 ◽  
Vol 20 (1) ◽  
pp. 204-211
Author(s):  
Gulasel Shamshieva ◽  
Keyword(s):  
Commercial Banks ◽  
Legal Regulation ◽  
The State ◽  
Securities Market ◽  
Kyrgyz Republic ◽  
Current State ◽  
The Government

This article gives a classification of securities. The investment activities and operations with securities of commercial banks, as well as the legal regulation of the activities of commercial banks in the securities market in Kyrgyzstan are examined. A review of the current state of the securities market in the Kyrgyz Republic is carried out. Volumes of debt securities are also presented. The volume of annual issue of securities for 3 years from 2017 to 2019, the volume of foreign investment in corporate securities is shown. During the review of the state of the securities market, it was concluded that commercial banks play a major role in the development of the securities market, acting as issuers, investors and intermediaries. A program for the development of the government securities market for both the medium and long term is proposed.

scholarly journals Development an optimization plan for redistributing pension assets applying information technologies

2021 ◽  
Vol 6 (13 (114)) ◽  
pp. 72-79
Author(s):  
Svitlana Achkasova ◽  
Yevheniia Malyshko
Keyword(s):  
Financial Services ◽  
Information Technologies ◽  
Social Protection ◽  
Pension System ◽  
State Regulation ◽  
The State ◽  
Information And Communication ◽  
Oriented Approach ◽  
Oriented System

The issue of the significance of the role of information technologies in the pension system was highlighted. The information and communication model of the state regulation of financial support of the pension system in the market of non-banking financial services was considered. The essence of information and communication support of the risk-oriented approach to the system of accumulative pension provision, which involves preventing the information and technological probability of risks, was explored. The issues of development of non-bank financial institutions as entities of aggregate financial potential were explored and promising directions of increasing the efficiency of their functioning with the use of information technologies were outlined. The necessity of introducing the mechanism of information and communication provision of the state regulation of accumulative system of pension provision by means of mandatory payment of contributions to individual pension accounts and their further investment as an important component of social protection of the population was considered. The algorithm of construction of the mechanism of information and communication provision of the risk-oriented approach to the accumulative pension system was proposed. The main indicators of the implementation of the accumulative component of the pension system were analyzed. The need for the interaction of the elements of the risk-oriented system of accumulative pensions was substantiated. Information technologies of investment of pension savings as a long-term investment resource in interaction of elements of the risk-oriented system of the accumulative pension provision were considered. The needs of introducing a risk-oriented approach to accumulated assets to strengthen social protection of participants in the non-banking financial services market were highlighted. The results of the redistribution between the cluster proved a close relationship of incomes of population and long-term pension savings.

scholarly journals DIRECTIONS FOR UPDATING THE ADMINISTRATION OF ACTIVITIES ON INLAND WATERWAYS OF UKRAINE

2021 ◽  
pp. 61-67
Author(s):  
V. V. Haverskyi
Keyword(s):  
Transition Period ◽  
Legal Regulation ◽  
State Regulation ◽  
The State ◽  
Inland Waterways ◽  
Legal Standards ◽  
Inland River ◽  
Maritime Traffic ◽  
Inland Waterway

Based on historical development, the article identifies prospects for updating the modern organizational and legal support of inland waterway management in Ukraine. The relevance of the research topic is due to the adoption of the Law of Ukraine “On Inland Water Transport” and the absence of certain public institutions that carry out state regulation in the field of transport. According to the author, this slows down the effectiveness of the new Law implementation and worsens the state of updated industrial legislation development. It is noted that the creation of the regulation effective system and management of activities on inland waterways is the significant aspect of further development of the industry. The task of the article is to develop suggestions for improving the legal regulation of inland waterway management in Ukraine for the transition period. The author identifies the genesis of legal standards of inland waterway management based on the use of methods of historicism, formal-legal analysis and synthesis, as well as scientific forecasting. Their predominant focus on the vectors of public (state) influence formulation, the spread of coastal states’ power to activities on rivers and the lack of attention to the self-governing functions of private maritime traffic entities. The importance of forces and means of regulation/management balance maintaining for the formation of the effective impact on the relationship that develops during transportation by inland waterways is underlined. Emphasis is given to the fact that the development of river transport is impossible without the important role of the state and its bodies and the secondary, auxiliary role of associations of economic entities and public entities to ensure the operational impact on crisis situations. It is suggested to form self-governing institutions that are directly involved in maritime traffic and other uses of inland river connections, and to ensure their stable cooperation with government agencies for the best possible regulation of the industry.

scholarly journals Economic and Legal Policy of the State in the Field of Digital Economy

2020 ◽  
Vol 10 ◽  
pp. 383-392
Author(s):  
Oksana M. Vinnyk ◽  
◽  
Dmytro V. Zadykhaylo ◽  
Olena M. Honcharenko ◽  
Olga V. Shapovalova ◽  
...  
Keyword(s):  
Financial Services ◽  
Self Regulation ◽  
Digital Economy ◽  
State Regulation ◽  
The State ◽  
Legal Policy ◽  
Commercial Code ◽  
Economic Sphere ◽  
The Impact

Digitalisation of the economic sphere of Ukraine is one of the priority areas of social development, which should be reflected in the economic and legal policy of the state. Therewith, a considerable gap exists in the statutory consolidation of the fundamental principles of such a policy, in particular the lack of relevant provisions on the digital transformation of the economy in the Commercial Code of Ukraine. Despite the fact that the state has adopted some acts on the development of the digital economy, there are significant gaps in the legislation, especially with regard to the role of digitalisation in the economic and legal policy of the state. The purpose of the study is a theoretical analysis of the general principles of such a policy in the modern period. As a result, the impact on the economic and legal policy of the state of the process of digitalisation of the economic sphere of the country is determined. The necessity of co-regulation is substantiated, which constitutes a combination of state regulation with self-regulation by participants of digitally-targeted markets. The role of digital resources (on the example of public registers) and electronic financial services is analysed. It is established that the modern legal support of the digital economy needs to be reformed, first of all, by supplementing the Commercial Code of Ukraine with provisions on digitalisation, including the relevant direction of economic and legal policy of the state. The results of the study have a scientific novelty, as they fill the gap in the coverage of the role of t

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