Prospects of institutions for local government financing creation in Ukraine

Economic Annals-ХХI: Volume 138, Issue 1-2(2), Pages: 32-35

Citation information:
Teliatnykov, V. (2014). Prospects of institutions for local government financing creation in Ukraine. Economic Annals-XXI, 1-2(2), 32-35. https://ea21journal.world/index.php/ea-v138-08/

Vadym Teliatnykov
Lecturer,
Kyiv National Economic University named after Vadym Hetman
54/1 Peremohy Avenu, Kyiv, 03680, Ukraine
teliatnykovv@gmail.com

Prospects of institutions for local government financing creation in Ukraine

Abstract. The author discusses the features of the market of local governments borrowing in Ukraine, analyzes legal and institutional barriers that hinder this process. The mechanisms of the establishment of local government financing institutions in Ukraine using the practice of developed countries are proposed. The analysis of market borrowings of local authorities in Ukraine at the first stage of its operation proved that the institutions, financing local authorities, should be built within the international experience. The structure of the institute of funding for local authorities in Ukraine as a non-profit financial institution has been developed and proposed. Its responsibilities have to include the power to develop financial products for both borrowers and investors, organizational work to attract financial resources both at internal and external financial market. This will strengthen competition in the municipal loans market that will greatly enhance the quality of financial products for local authorities in Ukraine.

Keywords: Local Authorities; the Institute of Funding for Local Authorities; Loans Market, International Experience

JEL Classification: G24; H74

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Received 13.11.2013