Evaluation of financial security in Ukraine

Economic Annals-ХХI: Volume 140, Issue 3-4(2), Pages: 47-50

Citation information:
Vynnychenko, N., & Esmanov, O. (2014). Evaluation of financial security in Ukraine. Economic Annals-XXI, 3-4(2), 47-50. https://ea21journal.world/index.php/ea-v140-12/

Nataliya Vynnychenko
PhD (Economics),
Associate Professor,
Ukrainian Academy of Banking of The National Bank of Ukraine
57 Petropavlivska Str., Sumy, 40030, Ukraine
nataliyavinnichenko@mail.ru

Oleksii Esmanov
Head State Financial Inspector of the
Public Authority Bodies Inspection Department,
State Financial Inspection of Ukraine in Sumy region
11 Pokrovska Sq., Sumy, 40030, Ukraine
esmanoff@yandex.ru

Evaluation of financial security in Ukraine

Abstract. Introduction. The implementation of economic policy is not possible without proper financial support and economic and financial security improving in the country. These points are the subject of many discussions, but the issues of the methodological approaches formation to the selection of financial security indicators remains unresolved.

The purpose of the article is to justify the necessity of existing scientific and methodological approaches to the assessment of the financial security of Ukraine improving as a part of economic security in general.

Results. Ukraine’s financial security analysis as a part of the macro-security in terms of its primary components, including fiscal, monetary, foreign exchange, debt security and the security of the insurance market, it has been proved that the results of the calculations do not fully reveal the real situation of each mentioned component. For example, in the evaluation debt security has a very positive state, which allows drawing conclusions about the need for a more rational choice of indicators for such assessment. In turn, fiscal and monetary security for the evaluation of their condition have rather menacing indicators, whereas banking, insurance and stock market security, on the contrary, show a positive trend.

Conclusion. The results of the research prove the validity of the existing hypotheses about the need to improve scientific and methodological basis for the economic and financial security assessing. This need could be justified by the fact that the selected criteria characterize the economy from different angles, creating a single integrated assessment which takes into account potential threats but, at the same time, does not demonstrate the current state of affairs. All of the above not only proves the need for some improvements and adjustments of existing methods, but also forms their basic directions.

Keywords: Financial Security; Economic Security; Fiscal Security; Currency Security; Monetary Security; Insurance Safety

JEL Classification: E62; G00

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Received 28.02.2014