INFRASTRUCTURAL ASSURANCE OF THE MECHANISM FOR REGULATING IMBALANCES IN THE MOVEMENT OF FINANCIAL RESOURCES OF THE UKRAINIAN ECONOMY IN THE CONTEXT OF EXTERNAL FLUCTUATIONS

The article proves that the state regulation of negative manifestations in the functioning of the financial architecture of the national economy is carried out on the basis of a list of effective instruments of national financial policy, directly fiscal and monetary. It is determined that the subjects of ordinary state regulation of the financial architecture of the national economy are the National Bank of Ukraine, the National Commission on Securities and Stock Market, other regulatory bodies (such as the Antimonopoly Committee of Ukraine and the Ministry of Finance of Ukraine and others). It is proposed to include in the goals of such regulation: protection of socio-economic interests of potential participants in financial architecture; equal access of relevant market participants to various components of the financial architecture; support of healthy competition in the financial market, level of transparency and openness, gradual integration into the international financial architecture. It is concluded that the presented strategic directions for state regulation of negative manifestations in the functioning of the financial architecture of the national economy are aimed at forming a reliable system for protecting the rights of investors, as well as protecting socio-economic interests of relevant consumers of financial services. The regulatory mechanism is presented, under which we propose to understand the interconnected system of subjects, forms, instruments and objects of financial market regulation, which operates to achieve sustainable development of financial architecture and all its components, which is generally aimed at improving the sustainability of national economy

STRATEGIC DIRECTIONS OF DEVELOPMENT OF FINANCIAL ARCHITECTURE OF THE ECONOMY OF UKRAINE

The article considers the strategic directions of development of the financial architecture of the Ukrainian economy. It is proved that it is necessary to pay close attention to the following areas: the use of specific accounting standards; promoting the increase of the level of transparency of domestic capital markets in the context of introduction of complex market segments and financial instruments for coordinated regulation, first of all, including relevant derivatives; organization of effective prudential regulation and control over banking institutions; systemic risk management of the banking sector; increasing the effectiveness of control over institutions that are insured in a single system of insurance of their deposits; consolidation of supervision in the context of the use of a wider range of diversified instruments in order to control and limit the relevant financial risks that are directly related to the activities of a particular consolidated group; development of special programs to control companies with a complex structure, on the basis of using a system of indicators to identify possible problems and imbalances, corporate risks that arise directly, the formation of a strict regime of control over all functionally strategic financial organizations

The Conceptual Model for Assessment and Analysis of the Information Component of the Economic Security of Enterprise

The article is devoted to the topical and important problem of ensuring the economic security of enterprise (ESE). It is substantiated that most enterprises do not have a formal comprehensive strategy of economic security or it is often fragmented and does not meet the real needs of the enterprise. To solve this problem, it is proposed to create a comprehensive system of economic security of enterprise, which would consist of various levels of protection, be constantly updated and monitored, and meet current threats. The article notes that the information component of the economic security of enterprise is one of the most important, and the study of the information component of the system of economic security of enterprise is a complex and multifaceted task, and at the same time important for the successful functioning of enterprises and the economy of the country. In view of this, the article develops conceptual models for assessing and analyzing the economic security of enterprise and evaluating the information component of the system of economic security of enterprise, which will improve the quality of managerial decisions on assessing the state of economic security of enterprise. The conceptual model of assessment and analysis of economic security of enterprise consists of two blocks: the first block is intended for the formation of a system of indicators for assessing economic security; the second block is intended for the development of models for assessing and analyzing the economic security of the enterprise. The conceptual model of assessment and analysis of the information component of the economic security of enterprise consists of a block for determining the main indicators of performance and the state of the ESE and its information component, and a block for assessing and analyzing information security, with the help of which a general assessment of the information component is carried out, and further on, a block for making decisions to support the information security of the enterprise. The study builds an information system for managing information security using the BRwin software, which helps to create a complex model of business processes. The built model can become the basis for organizing the information security systems for enterprises

Assessment of the Banking System of Ukraine by a Multiplicative Model

The essential part of market relations in Ukraine is an adequate modern banking system, on which depend real economic sector, flexibility and elasticity of monetary system, soundness of national currency, etc. The level of its stability fully characterizes the state of economy in general and the ability to meet its obligations and to ensure profitability at the level of adequate functioning in a competitive environment. In such circumstances, requirements for stability and efficiency of banking system and individual bank are rising significantly. Financial stability of banking system should be not only short term objective, but also strategic, on which, in its tern, will depend the dynamics of market-style reforms and upturn of social standards.It also ensures the necessity to search modern forms of analysis and state estimate of banking system of Ukraine by, among the others, mathematical methods that will help to make appropriate conclusions about suitability and possibility to use practically the chosen model

DIGITAL TRANSFORMATION AND INCREASING MOLDOVA INDUSTRY SWOT ANALYSIS

The digital transformation is now a reality in Moldova, as Moldova has begun to transfer social, legal, and civil service delivery online. Sped-up digitalization can be expected to create new business models and opportunities for digital jumping in traditional industries. The Coronavirus crisis has highlighted the need for support and investments in digital transformation and effective digital governance, especially to guarantee the continuity and delivery of core government functions. The digital transformation is changing not just business models but the methods of production and distribution and the industry's competitiveness. The country's competitiveness is directly proportional to the country's level of economic development. According to SWOT analysis, general strengths on which Moldovan industry digitalisation will rely can be distinguished. It rely on the fact that manufacturing sector output is increasing – the contribution of the manufacturing sector to national GDP is around 12%, however it is on the lower side compared to other EU countries. Despite that, recent years indicate the rise of the output of this industry segment and industry digitisation will further encourage this process. Secondly, public and private IRT infrastructure is well-developed – is consistently updated, provides world-class internet access, and allows faster digitization. Thirdly, the growing capacity of digitization solutions providers - supply a wide range of services by participating in local and global value chains. The interview with experts who work closely in digitalization or competitiveness was done, and the SWOT analysis was done. Based on the research made, the recommendations for Moldova were prepared and presented in this article

Fiscal Operations on the Way of Ensuring Budget Security of Ukraine in Crisis

Ukraine, like many other countries in the world, aims to ensure sustainable economic growth by comprehensive socio-economic reform. At the same time, the factors that impede the effectiveness of its implementation pose a threat to financial security due to the loss of its stability. Such multifaceted factors include the spread of globalization and digitalization, which, along with new opportunities, create new challenges and threats, which in turn require a reliable economic foundation and support for financial stability, centralized funds and long-term financial resources. An important tool, among others, is budget policy, which combines regulatory and fiscal functions of the budget process. It optimally and continuously supports the creation of resources for the reduction of threats and development of the economy through budget expenditures, and an indicator of its effectiveness is budget security. Thus, the unresolved issues of budget security, as a strategic direction of financial security, in the relationship and interaction with fiscal sustainability led to the choice of research subject, its purpose and objectives. Paying tribute to the contribution of scientists, we should note that the issue of improving budget security in terms of considering the impact of fiscal sustainability on it requires further research. The purpose and objectives of the study are to generalize and systematize the theoretical foundations and methodological approaches to budget security, impact assessment and development of proposals for strengthening budget security by improving budget and fiscal policy, strengthening fiscal sustainability. To achieve this goal, the following tasks were defined: the theoretical foundations of budget security were generalized; the role and importance of fiscal policy and fiscal sustainability in ensuring budget security were described; the diagnostics of budget security in Ukraine were carried out; the level of fiscal sustainability was analyzed and its impact on Ukraine's budget security was assessed; the practical recommendations for strengthening budget security by fiscal sustainability reinforcement were developed

The influence of financial technologies on the global financial system stability

The analysis of the financial technologies introduction has proved that their application over-complicates the institutional structure of the global financial system. As a result, usual functional relationships cease to operate, new institutes and interdependencies appear, and systemic risks increase. In this context, the system instability increases, resulting in a transition to a new institutional status. The analysis of the financial technologies impact on the stability of financial system shows that the lack of institutional support for new financial technologies is the most important catalyst for the financial industry destabilization and the formation of financial bubbles in various market segments.The ways to reduce the negative impact of financial technologies on the financial system stability (such as development of international prudential standards; revision of the licensing regime for financial companies; “regulatory sandboxes”, which test new technologies, business models and algorithms underlying the Fintech innovations; legal regulation of ownership of digital tokens; and clear definition of the blockchain technology in various areas of life, etc.) have been proposed

CONCEPTUAL PRINCIPLES OF FORMATION OF WORLD FINANCIAL ARCHITECTURE

The article considers the conceptual principles of formation of the world financial architecture. It is determined that the negative impact of global disparities is significantly exacerbated by the imperfection of the current financial mechanism, which follows from the basic fundamental principles of the global financial architecture. The main factors of negative impact of global disparities on the world economy include: imperfection of the financial mechanism, exacerbation of contradictions between financial and real sectors of the economy, national and international structures in the direction of strategic state and strengthening regionalism. It is proved that in the formation of the financial architecture in the context of globalization transformations it is necessary to clearly define the conditions for the implementation of the principle of fair burden sharing between private and official creditors, as well as between relevant groups of private creditors. That is, efforts should be directed at regulating liquidity, stabilizing the behavior of investors, using effective methods of assessing sovereign risk, establishing a mechanism for regulating financial markets in developed countries; formation of a financial system that could use all the benefits of global markets and capital mobility with minimal risk, obtaining effective protection of socially vulnerable groups. It is concluded that the development of modern financial architecture takes place in conditions of significant aggravation of contradictions between financial and real sectors of the national economy, national and international structures in the process of implementing effective strategic state interests and opportunities for large multinational corporations. It is proposed in further research to determine the organizational and economic principles for the interaction of national and global financial markets in the context of global transformation

ENSURING THE BUDGET SECURITY OF UKRAINE DURING THE CRISIS THROUGH STRENGTHENING OF FISCAL STABILITY

In order to ensure sustainable economic growth, Ukraine, like many other countries of the world, sets the main task of carrying out a comprehensive socio-economic reform. At the same time, factors that prevent the effectiveness of its implementation pose a threat to financial security due to the loss of stability of its components. Such multifaceted factors include the spread of globalization and digitalization processes, which, along with new opportunities, create new challenges and threats, which, in turn, require a reliable economic foundation and support for financial stability, the formation of centralized funds and the attraction of long-term financial resources. An important tool, along with others, is the budget policy, which combines the regulatory and fiscal functions of the organization of the budget process, optimally and continuously through budget expenditures supports the creation of a resource for the leveling of threats and the development of the economy, and the indicator of its effectiveness is budgetary security. Therefore, the unsolved problematic issues of ensuring budget security as a strategic direction of financial security, in the relationship and mutual influence with fiscal stability, determined the choice of the research topic, its purpose and tasks. the impact of fiscal stability on it requires further research. The object of the study is the process of ensuring budgetary security. The subject of the research is theoretical, methodical and applied aspects of fiscal stability as a factor influencing budget security. The purpose and task of the study is to generalize and systematize the theoretical foundations and methodological approaches of ensuring budgetary security, impact assessment and development of proposals for strengthening budgetary security through the improvement of budgetary and fiscal policy, strengthening fiscal sustainability. To achieve the set goal, the research implemented the following tasks: generalized the theoretical principles of budget security; the role and significance of fiscal policy and fiscal sustainability in ensuring budget security are characterized; diagnosis of the state of budget security of Ukraine was carried out; the level of fiscal stability was analyzed and its impact on the budgetary security of Ukraine was assessed; practical recommendations have been developed to strengthen budget security through strengthening fiscal sustainability

Analysis and Assessment of Financial Indicators of Banks in the Context of Ensuring Functioning of the Banking System

The article studies methods of analysis and assessment of financial indicators of activity of banks, which characterise their solvency, keeping which at a relevant level for each bank ensures functioning of the banking system in general. It offers a number of financial indicators, which should be assessed when determining the credit rating of competitor banks. It demonstrates an approach to identification of the degree of influence of indicators upon the solvency level. It reveals a necessity of comparing when conducting analysis of values of financial indicators of bank activity, which are rated, with relevant values by the group of banks and the whole banking system. In the result of application of the proposed methods it seems possible to assess positive and negative sides of activity of a specific bank compared to its competitors. Moreover, rather high values of analysed financial indicators, compared to other studied banks, could be used as weighty information when conducting PR campaigns carried out by the bank. The bank management should pay attention to low values of financial indicators, which are determined through comparison with competitor banks, and build up a relevant strategy of measures on improvement of the bank activity