Analyzing the Approaches to Assessing the Sustainability of the Ukrainian Banking System

Ensuring the sustainability of the banking system is one of the key tasks of economic policy of countries, regardless of their level of economic development. The purpose of the article is to define and analyze existing approaches to assessing the financial sustainability of the banking system of Ukraine. When considering the essence of the terms «stability» and «sustainability», it is determined that they are closely related, but have certain nuances that need to be taken into account in the context of the financial condition of the banking system. The scientific literature uses different terms to describe the state of the system, its structure and processes, which differ from the approach to defining these terms in the context of the financial sector. A study of the factors affecting the financial sustainability of the banking system has shown that they can be divided into the external and internal factors. The external factors include economic, legal, political, competitive trends, technology, and automation. The internal factors include economic, organizational and technological aspects, as well as the quality of management. It is noted that various factors are interrelated and have a multidirectional impact on the indicators of financial sustainability of the banking system. It is defined that currently there are many methods for assessing the banking system and individual banks, which differ in various parameters and indicators. The author identifies several main approaches to assessing the sustainability of banking systems in the world countries, including stress testing of the banking sector, analysis of indicators of financial sustainability of banks, assessment of the system of regulation and supervision, assessment of the level of financial stability of banks, and risks. These approaches can be used to analyze and monitor the financial sustainability of the banking system both separately and in complex combination. There are also various complex indicators and indices, such as the Financial Condition Index (FCI) and the Financial Stress Index (FSI), which are used to reflect the financial stability of countries of the world. The Financial Stress Index (FSI), developed by the National Bank of Ukraine in 2017, which consists of four sub-indices and sets the weight of each sub-index according to the volume of each market, is also examined. The author proposes general directions for improving the financial stability of the Ukrainian banking system in terms of wartime, including strengthening regulatory policy, improving financial literacy of citizens, and developing digital payment infrastructure. The carried out study contributes to the understanding of the factors that affect the financial sustainability of the banking system of Ukraine and should be taken into account when developing strategies to ensure such stability in the future

Determinants of Maintaining the Competitiveness of the Woodworking Industry in Ukraine in the Postwar Period

Theoretical provisions and practical recommendations for identifying the determinants of woodworking industry development in Ukraine in the postwar period make up the subject of the study. The existing research papers indexed by scientometric databases Scopus and Web of Science on maintaining the competitiveness of the woodworking industry in Ukraine have been systematized and generalized. The research results in deepening the theoretical basis for identifying the basic meaningful determinants of competitiveness of the woodworking industry in various countries grounded on using bibliometric analysis tools (by means of VOSviewer v.1.6.10). Four contextual research clusters on the competitiveness of the woodworking industry, which include the largest number of publications, are identified. An integrated assessment is made of competitiveness shown by certain types of economic activity carried out by the woodworking industry in Ukraine and the world. The main measures of state support aimed at maintaining the work of Ukraine’s industrial sector during the war are presented. The following problems in organizing the activity of the woodworking enterprises in wartime are defined: lack of qualified personnel; loss of logistics infrastructure, supply chains, and sales in the regions where active hostilities took place; limited access to raw materials for enterprises located in less forested regions of Ukraine; loss of customer base; limited supply of fuels and lubricants, spare parts, equipment of enterprises in the Central, Eastern and Southern regions of Ukraine; reduction of business activity in some regions of Ukraine, etc. Drivers of maintaining the competitiveness of Ukraine’s woodworking industry in the postwar period have been formed

Analyzing the Trends in the Development of the Monetary System of Ukraine

The successful functioning of the national monetary system determines the efficiency of the country’s money circulation, the effectiveness of monetary regulation measures taken by the country’s central bank, and the ability to meet the needs of consumers for various financial services, as well as the effectiveness of measures to rebuild our economy in the post-war period and the ability to function normally under martial law. The purpose of the article is to analyze the trends in the development of the monetary system of Ukraine, to identify the stages of its formation along with the main problems in the current period. The publication examines the formation and stages of development of the monetary system in Ukraine, namely, identifying the following key stages: since 1991 – the beginning of the institutional formation of the monetary system; since 1996 – introduction of the national currency; since 1999 – overcoming the global financial crisis of 1998 and further development of the national monetary system; since 2009 – overcoming the consequences of the global financial crisis of 2008; since 2015 – overcoming the consequences of the russian-Ukrainian war of 2014; since 2020 – overcoming the consequences of the global financial crisis of 2019, accelerated by the coronavirus pandemic; since 2022 – stabilization and overcoming the consequences of the active phase of russia’s aggression against Ukraine. Some key indicators characterizing the country’s monetary system are analyzed, namely: the dynamics of the country’s monetary base, changes in the discount rate, annual growth in the consumer price index, dynamics of the number of operating banks and their assets, dynamics and structure of loans granted by banking institutions, changes in the return on assets and capital of banking institutions. The main risks and causes of their occurrence in the monetary system of Ukraine during the wartime are analyzed. The main current problems of the monetary system of Ukraine in the wartime period are identified, and some directions for overcoming them are proposed. It is proposed that in order to sanitize the banking sector, it is necessary to withdraw insolvent banks from the market; to ensure inflationary stability, it is necessary to ensure a return to the implementation of inflation targeting policy; to restore the economy, in particular the real sector, it is necessary to ease the requirements for regulating loaning activity, to introduce instruments for targeted stimulation of loaning activity of banking institutions