COLLABORATION OF INTERNATIONAL FINANCIAL INSTITUTIONS WITH POST-CONFLICT COUNTRIES

The article is dedicated to the role of international financial institutions in overcoming the consequences of war actions. The author studies the evolution of the role of international financial institutions in the post-conflict renewal during the second half of ХХ century and at the beginning of ХХI century; the author also reveals the change of its key emphasis in the cold war period and after the war end.The article determines the main negative consequences in the activity of international financial institutions on the issue of overcoming the consequences of war conflicts that are the following: increasing the debtor’s sovereign loading, the priority support of the branches, which are the most interesting for foreign investors, the interference in inner policy, the contribution to corruption, and in some cases, the worsening of ecological situation in post-conflict countries. A special attention is paid to the issue of odious debt and the practice of refusal of debtor’s obligations of previous regimes in a post-conflict period.The article deals with the conflict of interests of international financial institutions and the management of the countries suffered from war actions concerning the mobilization of inner resources and providing external financial support from the position of the theory of plays, that makes it possible to reveal the reasons of the slow post-conflict renewal.The article is dedicated to the role of international financial institutions in overcoming the consequences of war actions. The author studies the evolution of the role of international financial institutions in the post-conflict renewal during the second half of ХХ century and at the beginning of ХХI century; the author also reveals the change of its key emphasis in the cold war period and after the war end.The article determines the main negative consequences in the activity of international financial institutions on the issue of overcoming the consequences of war conflicts that are the following: increasing the debtor’s sovereign loading, the priority support of the branches, which are the most interesting for foreign investors, the interference in inner policy, the contribution to corruption, and in some cases, the worsening of ecological situation in post-conflict countries. A special attention is paid to the issue of odious debt and the practice of refusal of debtor’s obligations of previous regimes in a post-conflict period.The article deals with the conflict of interests of international financial institutions and the management of the countries suffered from war actions concerning the mobilization of inner resources and providing external financial support from the position of the theory of plays, that makes it possible to reveal the reasons of the slow post-conflict renewal

PROBLEMS AND PROSPECTS OF USING DATA SCIENCE IN DOMESTIC FINANCIAL AND ECONOMIC RESEARCHES

Introduction. Currently, domestic financial and economic studies have clearly traced the tendency to actively use of mathematical tools in response to the growth of amounts of data characterizing processes and phenomena in society, as well as the necessary for their analysis of the power of computer technology, which, in turn, requires knowledge of scientists not only in the subject field, but also in information technology. Given the particular relevance of using the possibilities of data science in the research of domestic scientists in accordance with global trends. Purpose. The purpose of the article is to determine the problems and prospects of using data science in domestic financial and economic research. Results. The article deals with the content of data science, its connection with programming, mathematics and statistics, as well as its distinction from traditional research. In addition, the problems of using data science in domestic financial and economic researches were identified, including the excessive mathematical formalization of the relationship between financial indicators, the risk of erroneous specification of econometric models, the absence of clear boundaries of the application of the revealed patterns and the area of responsibility for the results obtained, as well as insufficient level of qualification of scientists in interdisciplinary research. Appropriate recommendations have been made to address some of them. An overview of software used by domestic scientists, from the point of view of their convenience and functionality, is not left out of consideration. Conclusions. Prospects for the development of domestic financial science are inextricably linked with the level of professional training of scientists, especially young ones, and the system of stimulation of their activities. That is why the strategic priority in the conduct of financial and economic research should be the introduction of information technology in scientific activities, in accordance with the world trends, promotion of academic mobility, as well as the existence of appropriate material and technical base

Стратегия развития страхового рынка в условиях наличия латентного военного конфликта в Украине

One of the basic preconditions of overcoming economic consequences of the military conflict in the East of Ukraine is a developed financial sector, an integral part of which is insurance market. Considering existence of internal problems of the industry’s development, that are strengthened by influence of militarypolitical instability, the domestic insurance companies cannot fully achieve effective redistribution of risks and capital, as well as provide stability of economic system in the whole. This research is directed to the theoretical justification of a perspective strategy of the insurance market’s development in conditions of latent military conflict as well as to offer the appropriate practical recommendations for Ukraine. In order to achieve the set goal, there was substantiated the necessity of a complex application of the general scientific and special methods of cognition, namely methods of abstraction, analysis, synthesis, grouping, analogy and comparison, as well as the economic-mathematical methods. Basing on the official data on an insurance market’s development in Ukraine, there was revealed a tendency to worsening of its abilities in provision of national financial security, that is confirmed by shortening of volumes of insurance premiums and formed insurance reserves, as well as reduction of ratio of the insurance premiums to GDP and number of population in Ukraine during the last years. Moreover, with the help of instruments of correlation-regressive analysis, there was revealed a dependence of the level of the insurance market’s financial potential usage on the level of insurance penetration in Ukraine in the years 2002-2019. We define economic problems of latent military conflict, which can be solved with the help of insurance market, in particular, a slow economic growth, conditioned by a high level of credit risks, the unresolved issues of responsibilities’ fulfillment by insurance companies in conditions of military conflict and after it, as well as a rapid increase of financial needs of healthcare system. In accordance to this, there were given recommendations concerning their solution, which foresee a priority in medical insurance development, widening of insurance conditions and list of insurance risks, connected with bank crediting, as well as development of new insurance products, considering an influence of a military conflict’s factor. In conditions of overcoming the consequences of military conflict, the transformation of insurance market’s role appears, which is connected with increase of risks level and slowing down of financial resources movement. The proposals, formed as the result of this research, can be useful to develop the perspective plans of Ukrainian insurance market’s development. At the same time, the coordination of actions of the state regulators, unions of market’s participants, owners and management of insurers, as well as consumers of insurance services, are needed.Перспективи розвитку страхового ринку України пов’язані з необхідністю вирішення внутрішніх проблем становлення та функціонування страхування, а також подоланням економічних наслідків воєнного конфлікту на сході України. Основною метою проведеного дослідження є окреслення перспективної стратегії розвитку страхового ринку України в умовах латентного військового конфлікту. Стаття побудована таким чином: перша частина дослідження присвячена виявленню тенденцій розвитку страхового ринку України та оцінці взаємозв’язку рівня проникнення страхування з рівнем використання фінансового потенціалу страхового ринку, а друга – визначенню проблем постконфліктного відновлення економіки, що можуть бути вирішені за допомогою страхового ринку з відповідними рекомендаціями щодо їх вирішення з урахуванням вітчизняних особливостей. Методичним інструментарієм проведеного дослідження стали загальнонаукові та спеціальні методи пізнання, зокрема методи абстрагування, аналізу, синтезу, групування, аналогії та порівняння, а також економіко-математичні методи. У статті представлено результати аналізу показників розвитку вітчизняного страхового ринку, який засвідчив погіршення його можливостей у забезпеченні національної фінансової безпеки, а також існування залежності рівня використання фінансового потенціалу страхового ринку від рівня проникнення страхування в Україні протягом 2002–2019 рр. Окрім того, виявлено, що в умовах латентного військового конфлікту підвищується рівень ризиків і сповільнюється рух фінансових ресурсів між економічними агентам, відповідно до чого було визначено основні напрями розвитку страхового ринку України. Вони передбачають пріоритетний розвиток медичного страхування, розширення умов страхування та переліку страхових ризиків, пов’язаних із банківським кредитуванням, а також розробку нових страхових продуктів, які враховують вплив фактору воєнного конфлікту. Це сприятиме мінімізації ризиків, чутливих до воєнного конфлікту, забезпеченню економічного зростання через страхування ризиків і стимулюванню банківського кредитування, зниженню навантаження на бюджет у частині фінансування охорони здоров’я в умовах латентного військового конфлікту. Результати проведеного дослідження можуть бути корисними для розробки перспективних планів розвитку страхового ринку України в контексті подолання наслідків воєнного конфлікту.Перспективы развития страхового рынка Украины связаны с необходимостью решения внутренних проблем становления и функционирования страхования, а также преодолением экономических последствий военного конфликта на востоке Украины. Основной целью проведенного исследования является разработка перспективной стратегии развития страхового рынка Украины в условиях латентного военного конфликта. Первая часть статьи посвящена выявлению тенденций развития страхового рынка Украины и оценке взаимосвязи уровня проникновения страхования с уровнем использования финансового потенциала страхового рынка, а вторая – определению проблем постконфликтного восстановления экономики, которые могут быть решены с помощью страхового рынка с соответствующими рекомендациями по их решению с учетом отечественных особенностей. Методическим инструментарием проведенного исследования стали общенаучные и специальные методы познания, в частности методы абстрагирования, анализа, синтеза, группировки, аналогии и сравнения, а также экономико-математические методы. Результаты анализа показателей развития страхового рынка указывают на ухудшение его возможностей в обеспечении национальной финансовой безопасности и существующую зависимость уровня использования финансового потенциала страхового рынка от уровня проникновения страхования в Украине в 2002–2019 гг. Авторы обнаружили, что в условиях латентного военного конфликта повышается уровень рисков и замедляется движение финансовых ресурсов между экономическими агентам, в соответствии с чем были определены основные направления развития страхового рынка Украины. Они предусматривают приоритетное развитие медицинского страхования, расширение условий страхования и перечня страховых рисков, связанных с банковским кредитованием, а также разработку новых страховых продуктов, учитывающих влияние фактора военного конфликта. Это будет способствовать минимизации рисков, чувствительных к военному конфликту, обеспечению экономического роста через страхование рисков и стимулированию банковского кредитования, снижению нагрузки на бюджет в части финансирования здравоохранения в условиях латентного военного конфликта. Результаты проведенного исследования могут быть полезными для разработки перспективных планов развития страхового рынка Украины в контексте преодоления последствий военного конфликта

Collaboration of International Financial Institutions with Post-conflict Countries

The article is dedicated to the role of International financial institutions in overcoming the consequences of war actions. The author studies the evolution of the role of International financial institutions in the post-conflict renewal during the second half of ХХ century and at the beginning of ХХI century; the author also reveals the change of its key emphasis in the cold war period and after the war end.The article determines the main negative consequences in the activity of International financial institutions on the issue of overcoming the consequences of war conflicts that are the following: increasing the debtor's sovereign loading, the priority support of the branches, which are the most interesting for foreign investors, the interference in inner policy, the contribution to corruption, and in some cases, the worsening of ecological situation in post-conflict countries. A special attention is paid to the issue of odious debt and the practice of refusal of debtor's obligations of previous regimes in a post-conflict period.The article deals with the conflict of interests of International financial institutions and the management of the countries suffered from war actions concerning the mobilization of inner resources and providing external financial support from the position of the theory of plays, that makes it possible to reveal the reasons of the slow post-conflict renewal

Financial support of passenger transportation in the regional road transport system of Ukraine

The article considers the forming resource elements of financial support of passenger transportation in the regional road transport system of the state, taking into account the impact on their structure of interdependent basic parameters of financial flows of public-private partnership. A methodological approach to assessing the formative resource elements of financial support for passenger transport in the region, which is based on the concept of developing the financial potential of the road transport industry, which determines the interaction of various factors under the general financial mechanism and aims at ensuring target parameters of profitable activities is developed. The mechanism of redistribution of own and credit resources between separate objects of the regional road transport system is substantiated, as it is a vector of integration direction of movement of the financial streams arising between the road transport enterprises in the sphere of passenger transportations. Changes in the basic parameters of financial flows of road transport enterprises in the cycle of financial support of passenger traffic in the region have been formalized. The analysis of the species structure of the road transport system and the volume of passenger turnover of Ukraine is carried out. The conditions of redistribution of financial resources by the State Road Fund of Ukraine between the regions and the share of implemented public-private partnership projects in the field of road transport of the country are determined. The scenario of the optimal market value of road transport enterprises in the cycle of financial support of passenger transport of the region is offered