Basic principles of financial markets regulation and legal aspects of the legislative requirements
Financial services market (FSM) is one of the effective mechanisms for ensuring the competitiveness of the country’s economy. It is precisely because of its ability to direct investment flows into the most attractive segments of the economy, and the FSM development can contribute to economic growth....
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| Format: | Article |
| Language: | English |
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LLC "CPC "Business Perspectives"
2018-03-01
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| Series: | Investment Management & Financial Innovations |
| Subjects: | |
| Online Access: | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/10178/imfi_2018_01_Yazliuk.pdf |
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| author | Borys Yazlyuk Anatoliy Guley Ruslan Brukhanskyi Hanna Shovkoplias Tetiana Shvydka |
| author_facet | Borys Yazlyuk Anatoliy Guley Ruslan Brukhanskyi Hanna Shovkoplias Tetiana Shvydka |
| author_sort | Borys Yazlyuk |
| collection | DOAJ |
| description | Financial services market (FSM) is one of the effective mechanisms for ensuring the competitiveness of the country’s economy. It is precisely because of its ability to direct investment flows into the most attractive segments of the economy, and the FSM development can contribute to economic growth. Accordingly, today it is important to strengthen the financial services market in Ukraine. For this purpose, it is necessary to study the current state, identify problems and determine the main directions of its development in a timely manner.The article investigates the financial services market in Ukraine, which is unstable, characterized by a significant outflow of financial resources, and underdeveloped financial intermediaries. FSM deterioration was also influenced by factors such as: financial crisis, sharp exchange rate fluctuations, military conflict, decline of the country’s economy, etc. Negative consequences of the events in the country were reflected even in a quite developed banking system. The focus is on the lack of financial culture in society, which is due to low deposit activity, high level of non-repayment of loans, lack of confidence in the new tools, and the introduction of new products in the financial services market. However, the development of the country as a whole is impossible without a strong financial services market.It is noted that one of the important conditions for the FSM development and the effectiveness of macroeconomic tasks entrusted to it is the formation of an effective mechanism of the financial market state regulation. Such a mechanism should include both elements of state regulation and self-regulation of the financial services market. Accordingly, the formation of indicators aimed at assessing the impact of state regulation on the development of the financial services market becomes relevant.The article examines the implementation of state regulation in financial services markets, analyzes the activity of the FSM state regulation in Ukraine and the control function effectiveness, considers the dynamics of the main indicators of the financial services markets development in Ukraine, and analyzes the level of financial services markets development. |
| first_indexed | 2024-12-21T12:39:23Z |
| format | Article |
| id | doaj.art-2b83c89741af4390afca4c72fc7ea610 |
| institution | Directory Open Access Journal |
| issn | 1810-4967 1812-9358 |
| language | English |
| last_indexed | 2025-02-17T09:14:27Z |
| publishDate | 2018-03-01 |
| publisher | LLC "CPC "Business Perspectives" |
| record_format | Article |
| series | Investment Management & Financial Innovations |
| spelling | doaj.art-2b83c89741af4390afca4c72fc7ea6102025-01-02T14:24:41ZengLLC "CPC "Business Perspectives"Investment Management & Financial Innovations1810-49671812-93582018-03-0115133734910.21511/imfi.15(1).2018.2810178Basic principles of financial markets regulation and legal aspects of the legislative requirementsBorys Yazlyuk0Anatoliy Guley1Ruslan Brukhanskyi2Hanna Shovkoplias3Tetiana Shvydka4Doctor of Economics, Professor, Dean of the Faculty of Agricultural Economics and Management, Ternopil National Economic UniversityDoctor of Economics, Associate Professor, Chairman of the Executive Board, Interbank Currency ExchangeDoctor of Economics, Professor, Ternopil National Economic UniversityPh.D. (Law), Associate Professor, Yaroslav Mudryi National Law UniversityPh.D. (Law), Assistant, Yaroslav Mudryi National Law UniversityFinancial services market (FSM) is one of the effective mechanisms for ensuring the competitiveness of the country’s economy. It is precisely because of its ability to direct investment flows into the most attractive segments of the economy, and the FSM development can contribute to economic growth. Accordingly, today it is important to strengthen the financial services market in Ukraine. For this purpose, it is necessary to study the current state, identify problems and determine the main directions of its development in a timely manner.The article investigates the financial services market in Ukraine, which is unstable, characterized by a significant outflow of financial resources, and underdeveloped financial intermediaries. FSM deterioration was also influenced by factors such as: financial crisis, sharp exchange rate fluctuations, military conflict, decline of the country’s economy, etc. Negative consequences of the events in the country were reflected even in a quite developed banking system. The focus is on the lack of financial culture in society, which is due to low deposit activity, high level of non-repayment of loans, lack of confidence in the new tools, and the introduction of new products in the financial services market. However, the development of the country as a whole is impossible without a strong financial services market.It is noted that one of the important conditions for the FSM development and the effectiveness of macroeconomic tasks entrusted to it is the formation of an effective mechanism of the financial market state regulation. Such a mechanism should include both elements of state regulation and self-regulation of the financial services market. Accordingly, the formation of indicators aimed at assessing the impact of state regulation on the development of the financial services market becomes relevant.The article examines the implementation of state regulation in financial services markets, analyzes the activity of the FSM state regulation in Ukraine and the control function effectiveness, considers the dynamics of the main indicators of the financial services markets development in Ukraine, and analyzes the level of financial services markets development.https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/10178/imfi_2018_01_Yazliuk.pdfcontrolfinancial services marketsupervisionUkraine |
| spellingShingle | Borys Yazlyuk Anatoliy Guley Ruslan Brukhanskyi Hanna Shovkoplias Tetiana Shvydka Basic principles of financial markets regulation and legal aspects of the legislative requirements Investment Management & Financial Innovations control financial services market supervision Ukraine |
| title | Basic principles of financial markets regulation and legal aspects of the legislative requirements |
| title_full | Basic principles of financial markets regulation and legal aspects of the legislative requirements |
| title_fullStr | Basic principles of financial markets regulation and legal aspects of the legislative requirements |
| title_full_unstemmed | Basic principles of financial markets regulation and legal aspects of the legislative requirements |
| title_short | Basic principles of financial markets regulation and legal aspects of the legislative requirements |
| title_sort | basic principles of financial markets regulation and legal aspects of the legislative requirements |
| topic | control financial services market supervision Ukraine |
| url | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/10178/imfi_2018_01_Yazliuk.pdf |
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