Pub Date : 2019-01-16DOI: 10.21511/PMF.07(4).2018.01
F. Zhuravka, H. Filatova, O. Podmarov, Khaled Aldiwani, Fathi Shukairi
Nowadays one of the relevant problems of economic development of Ukraine is the excessive increasing of the public debt that has a number of negative consequences for the financial system of the country. The article is devoted to the research of state’s debt sustainability concept. Special attention is paid to the development of an effective system of debt sustainability management. The aim of the article is to study the theoretical bases of the state’s debt sustainability, investigate scientific and methodological approaches to its management, analyze the public debt and debt sustainability of Ukraine. In order to achieve that goal, the following scientific methods were used: analysis and generalization, decomposition analysis, comparison and compilation. The authors analyzed the structure of the debt sustainability management system: objects, subjects, key principles, objectives, methods, instruments, etc. The list of key indicators of debt sustainability was substantiated and the authors compared their normative values in Ukraine and in world practice. Besides, the state and structure of public debt and the ratio of government debt to GDP were scrutinized. The obtained results proved the debt crisis deepening in Ukraine.
{"title":"State’s debt sustainability management: case of Ukraine","authors":"F. Zhuravka, H. Filatova, O. Podmarov, Khaled Aldiwani, Fathi Shukairi","doi":"10.21511/PMF.07(4).2018.01","DOIUrl":"https://doi.org/10.21511/PMF.07(4).2018.01","url":null,"abstract":"Nowadays one of the relevant problems of economic development of Ukraine is the excessive increasing of the public debt that has a number of negative consequences for the financial system of the country. The article is devoted to the research of state’s debt sustainability concept. Special attention is paid to the development of an effective system of debt sustainability management. The aim of the article is to study the theoretical bases of the state’s debt sustainability, investigate scientific and methodological approaches to its management, analyze the public debt and debt sustainability of Ukraine. In order to achieve that goal, the following scientific methods were used: analysis and generalization, decomposition analysis, comparison and compilation. The authors analyzed the structure of the debt sustainability management system: objects, subjects, key principles, objectives, methods, instruments, etc. The list of key indicators of debt sustainability was substantiated and the authors compared their normative values in Ukraine and in world practice. Besides, the state and structure of public debt and the ratio of government debt to GDP were scrutinized. The obtained results proved the debt crisis deepening in Ukraine.","PeriodicalId":52837,"journal":{"name":"Public and Municipal Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2019-01-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41468680","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-12-28DOI: 10.21511/PMF.07(3).2018.05
I. Shkolnyk, A. Bukhtiarova, L. Horobets
Public procurement has been the subject of research for a long time in the work of scientists from both the economically developed countries and those undergoing the transformation of public finances. Their research comes from different points of view, namely from the essence of the definition, the process of their conduct, the problems of the legislative framework to their effective implementation. In addition, the issue of electronic public procurement, which can greatly enhance the transparency of this process and reduce the level of corruption inherent in this area in all countries without any exception, is becoming increasingly relevant in recent times.Based on the conducted analysis, the article proposes the definition of the term of public procurement, defines the principles of public procurement as a controlled subject in the electronic environment of their conduct, and systematizes the basic indicators characterizing the effectiveness of public procurement. Based on the Granger causality method, an analysis of efficiency was performed and the basic indicators determining the level of savings in the public procurement system were determined. It is established that the use of Granger causality in changing the amount of savings in the system of public procurement gives only a quantitative characteristic. For a more complete picture quantitative analysis is supplemented with qualitative parameters.
{"title":"The efficiency of electronic public procurement system in Ukraine","authors":"I. Shkolnyk, A. Bukhtiarova, L. Horobets","doi":"10.21511/PMF.07(3).2018.05","DOIUrl":"https://doi.org/10.21511/PMF.07(3).2018.05","url":null,"abstract":"Public procurement has been the subject of research for a long time in the work of scientists from both the economically developed countries and those undergoing the transformation of public finances. Their research comes from different points of view, namely from the essence of the definition, the process of their conduct, the problems of the legislative framework to their effective implementation. In addition, the issue of electronic public procurement, which can greatly enhance the transparency of this process and reduce the level of corruption inherent in this area in all countries without any exception, is becoming increasingly relevant in recent times.Based on the conducted analysis, the article proposes the definition of the term of public procurement, defines the principles of public procurement as a controlled subject in the electronic environment of their conduct, and systematizes the basic indicators characterizing the effectiveness of public procurement. Based on the Granger causality method, an analysis of efficiency was performed and the basic indicators determining the level of savings in the public procurement system were determined. It is established that the use of Granger causality in changing the amount of savings in the system of public procurement gives only a quantitative characteristic. For a more complete picture quantitative analysis is supplemented with qualitative parameters.","PeriodicalId":52837,"journal":{"name":"Public and Municipal Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-12-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43915785","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-12-21DOI: 10.21511/PMF.07(3).2018.04
Paul F. Gentle
This article examines the special use of tobacco warehouse receipts as a store of value, medium of exchange and unit of account in Virginia during part of the British Colonial period. These receipts met the three criteria necessary for them to be a type of money. When confidence in a system of currency with coins is present, this more conventional form of money takes precedence. A respected economic form of currency with coins has all three elements of money: medium of exchange, store of value and unit of account. Tobacco warehouse receipts were used as a form of money in Colonial Virginia. They were used since there was insufficient gold or silver for the commerce in British Colonial Virginia at that time. Also, the concept of store of value is examined in detail.
{"title":"Were tobacco warehouse receipts an economic form of money during part of the Colonial period in Virginia?","authors":"Paul F. Gentle","doi":"10.21511/PMF.07(3).2018.04","DOIUrl":"https://doi.org/10.21511/PMF.07(3).2018.04","url":null,"abstract":"This article examines the special use of tobacco warehouse receipts as a store of value, medium of exchange and unit of account in Virginia during part of the British Colonial period. These receipts met the three criteria necessary for them to be a type of money. When confidence in a system of currency with coins is present, this more conventional form of money takes precedence. A respected economic form of currency with coins has all three elements of money: medium of exchange, store of value and unit of account. Tobacco warehouse receipts were used as a form of money in Colonial Virginia. They were used since there was insufficient gold or silver for the commerce in British Colonial Virginia at that time. Also, the concept of store of value is examined in detail.","PeriodicalId":52837,"journal":{"name":"Public and Municipal Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-12-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44663399","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-12-14DOI: 10.21511/PMF.07(3).2018.03
N. Matsiliza
This review aims at assessing the economic evaluation of public programmes such as the expanded public works programmes (EPWP) in South Africa. The South African government earmarked the EPWP for departments and municipalities to implement projects that are meaningful for economic transformation and inclusive growth. This study argues that economic evaluation of public programmes must consider the interplay of complex decisions making on resource allocations and take into account consequences thereafter in a systematic way. This review paper adopted a qualitative document analysis, where data is drawn from research reports on programme evaluation, policy documents, EPWP evaluation reports, books and articles drawn from accredited journals. Key findings from this study draw attention to unfulfilled great expectations to sustain job creation in an emerging economy in South Africa. Results also revealed that although the M&E design was suitable for the evaluation, it was not compared to any other alternative cost-effective measurement strategy to assess the economic value of the EPWP in South African public service. Based on the lessons from EPWP, this study recommends an integrative approach to evaluate job creation programmes in order to settle on the economic value of EPWP.
{"title":"Economic evaluation of public programmes: lessons from the Expanded Public Works Programmes in South Africa","authors":"N. Matsiliza","doi":"10.21511/PMF.07(3).2018.03","DOIUrl":"https://doi.org/10.21511/PMF.07(3).2018.03","url":null,"abstract":"This review aims at assessing the economic evaluation of public programmes such as the expanded public works programmes (EPWP) in South Africa. The South African government earmarked the EPWP for departments and municipalities to implement projects that are meaningful for economic transformation and inclusive growth. This study argues that economic evaluation of public programmes must consider the interplay of complex decisions making on resource allocations and take into account consequences thereafter in a systematic way. This review paper adopted a qualitative document analysis, where data is drawn from research reports on programme evaluation, policy documents, EPWP evaluation reports, books and articles drawn from accredited journals. Key findings from this study draw attention to unfulfilled great expectations to sustain job creation in an emerging economy in South Africa. Results also revealed that although the M&E design was suitable for the evaluation, it was not compared to any other alternative cost-effective measurement strategy to assess the economic value of the EPWP in South African public service. Based on the lessons from EPWP, this study recommends an integrative approach to evaluate job creation programmes in order to settle on the economic value of EPWP.","PeriodicalId":52837,"journal":{"name":"Public and Municipal Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-12-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45680458","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-12-04DOI: 10.21511/PMF.07(3).2018.02
N. Vyhovska, A. Polchanov, S. Frolov, Yevhenii Kozmenko
Over the last five years, Ukraine suffers from armed conflicts that cause substantial losses in the state budget. In this context, shaping the prospects and developing measures for the post-conflict reconstruction of the state and its economy is an important problem. The very possibility and the effectiveness of such measures will depend on the country's financial potential as well as on the financial strength of its entities. This potential is dynamic and influenced by information technology, without which any institution cannot go.Given the particular significance of the financial potential IT-transformation, the role of digital forms of money, crowdfunding and initial coin offering (ICO) was identified. It is substantiated that while overcoming the consequences of military conflicts, their implementation facilitates the attraction and acceleration of the financial resources movement. By generalizing the developments and practical experience of Ukrainian fintech-companies, the principles of such developments application for assessing the external financial environment of economic entities and conducting financial analysis have been shaped.
{"title":"The effect of it-transformation of the country's financial potential during the post-conflict reconstruction","authors":"N. Vyhovska, A. Polchanov, S. Frolov, Yevhenii Kozmenko","doi":"10.21511/PMF.07(3).2018.02","DOIUrl":"https://doi.org/10.21511/PMF.07(3).2018.02","url":null,"abstract":"Over the last five years, Ukraine suffers from armed conflicts that cause substantial losses in the state budget. In this context, shaping the prospects and developing measures for the post-conflict reconstruction of the state and its economy is an important problem. The very possibility and the effectiveness of such measures will depend on the country's financial potential as well as on the financial strength of its entities. This potential is dynamic and influenced by information technology, without which any institution cannot go.Given the particular significance of the financial potential IT-transformation, the role of digital forms of money, crowdfunding and initial coin offering (ICO) was identified. It is substantiated that while overcoming the consequences of military conflicts, their implementation facilitates the attraction and acceleration of the financial resources movement. By generalizing the developments and practical experience of Ukrainian fintech-companies, the principles of such developments application for assessing the external financial environment of economic entities and conducting financial analysis have been shaped.","PeriodicalId":52837,"journal":{"name":"Public and Municipal Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-12-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42896662","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-11-06DOI: 10.21511/PMF.07(3).2018.01
I. Makarenko, Y. Yelnikova, A. Lasukova, Abdul Rahman Barhaq
Significant gap in investment resources for financing Sustainable Development Goals can be overcome with the revitalization of the corporate social responsibility mechanism of the financial sector institutions, for example banks and stock exchanges as the largest players in the global financial sector. The most relevant for them are Goals 1, 5, 8, 10, 13, 17. Incorporating these goals into activities of the financial sector institutions requires not only the activation of their CSR mechanism in the directions indicated by the targets, but also the radical restructuring of all business processes and the reorientation of their overall sustainability strategy. Analysis of current sustainability reporting disclosure by financial sector institutions in global and regional aspects was conducted. Based on the analysis, the authors define the role of CSRs of banks and stock exchanges in SDG financing as follows: banks – ensuring their own sustainability and efficiency through CSR mechanisms, formation of new tools, methods and technologies of financial support of SDG; stock exchanges – minimization of information asymmetry in investor decision making, taking into consideration ESG criteria, formation of exemplary disclosure practices and new markets and market benchmarks by listing companies.
{"title":"Corporate social responsibility of financial sector institutions in the light of sustainable development goals financing: the role of banks and stock exchanges","authors":"I. Makarenko, Y. Yelnikova, A. Lasukova, Abdul Rahman Barhaq","doi":"10.21511/PMF.07(3).2018.01","DOIUrl":"https://doi.org/10.21511/PMF.07(3).2018.01","url":null,"abstract":"Significant gap in investment resources for financing Sustainable Development Goals can be overcome with the revitalization of the corporate social responsibility mechanism of the financial sector institutions, for example banks and stock exchanges as the largest players in the global financial sector. The most relevant for them are Goals 1, 5, 8, 10, 13, 17. Incorporating these goals into activities of the financial sector institutions requires not only the activation of their CSR mechanism in the directions indicated by the targets, but also the radical restructuring of all business processes and the reorientation of their overall sustainability strategy. Analysis of current sustainability reporting disclosure by financial sector institutions in global and regional aspects was conducted. Based on the analysis, the authors define the role of CSRs of banks and stock exchanges in SDG financing as follows: banks – ensuring their own sustainability and efficiency through CSR mechanisms, formation of new tools, methods and technologies of financial support of SDG; stock exchanges – minimization of information asymmetry in investor decision making, taking into consideration ESG criteria, formation of exemplary disclosure practices and new markets and market benchmarks by listing companies.","PeriodicalId":52837,"journal":{"name":"Public and Municipal Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-11-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46724458","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-09-28DOI: 10.21511/pmf.07(2).2018.05
S. Rode
Maharashtra is highly urbanized and economically developed state in India. But now the growth rate is declining, and debt burden has increased in the state. CAGR has been used to examine the impact of FRBM act on fiscal deficit in the state. The RBI data from 1991 to 2016 show that the primary and fiscal deficit is increasing fast. The revenue and capital expenditure are increasing after 2003 FRBM act. The debt burden has increased in the state due to interest payment, pension liabilities, seventh pay commission to state employees, farm loan waiver scheme and infrastructure projects. State government took loans from different sources to finance its capital expenditure. The least square regression result shows that development expenditure in the state has declined very fast. The expenditure on health, education and social welfare of scheduled caste and tribe has declined in the state over the period of time. Government must improve revenue and capital receipts within the short period. Efforts must be made to reduce the debt burden on the state. Therefore, a number of alternative policies are required to improve revenue and capital receipts. State government must increase taxes on electronic and tobacco-related products. Taxes must be increased on commercial vehicles, luxury hotels, entry tax at hill stations, malls and purchase of diamonds and gold, petrol and diesel. Such sources will increase tax revenue to state government and fiscal deficit can be reduced to some extent.
{"title":"Widening fiscal deficit in Maharashtra state: causes and concerns","authors":"S. Rode","doi":"10.21511/pmf.07(2).2018.05","DOIUrl":"https://doi.org/10.21511/pmf.07(2).2018.05","url":null,"abstract":"Maharashtra is highly urbanized and economically developed state in India. But now the growth rate is declining, and debt burden has increased in the state. CAGR has been used to examine the impact of FRBM act on fiscal deficit in the state. The RBI data from 1991 to 2016 show that the primary and fiscal deficit is increasing fast. The revenue and capital expenditure are increasing after 2003 FRBM act. The debt burden has increased in the state due to interest payment, pension liabilities, seventh pay commission to state employees, farm loan waiver scheme and infrastructure projects. State government took loans from different sources to finance its capital expenditure. The least square regression result shows that development expenditure in the state has declined very fast. The expenditure on health, education and social welfare of scheduled caste and tribe has declined in the state over the period of time. Government must improve revenue and capital receipts within the short period. Efforts must be made to reduce the debt burden on the state. Therefore, a number of alternative policies are required to improve revenue and capital receipts. State government must increase taxes on electronic and tobacco-related products. Taxes must be increased on commercial vehicles, luxury hotels, entry tax at hill stations, malls and purchase of diamonds and gold, petrol and diesel. Such sources will increase tax revenue to state government and fiscal deficit can be reduced to some extent.","PeriodicalId":52837,"journal":{"name":"Public and Municipal Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44426138","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-09-28DOI: 10.21511/PMF.07(2).2018.03
Serhii Kolodii, M. Rebryk, Svitlana Kolodii
The experience of states with limited democracy shows that populist manipulations often result in a collapse of the pension insurance system, and then – in an escalation of economic, political and social instability. Accordingly, the development of tools for identifying and preventing economic populism manifestations does not become irrelevant.Through analyzing the changes in pension legislation, as well as studying economic indicators’ dynamics, the article shows that pension insurance issues are widely used as tools for populist policy in Ukraine. This ultimately results in the formation of an abnormally low financial stability of the pension system. In particular, during the 2004 presidential election campaign and parliamentary election in 2007, there was a sharp short-term increase in the gap between growth rates of average pension and nominal GDP; significant deviation of replacement rate from its long-term average trajectory; and with some temporary lag, there emerged a substantial increase in transfers from the state budget.It is noted that the main tools for economic populism in Ukraine are: (1) permanent procrastination of retirement age raising; (2) “manual” pensions indexation; (3) the existence of a VIP pensions and early retirement system for certain population categories; (4) transfer of burden to lower-income social contribution payers as a result of limiting the maximum value of unified social tax base.The paper suggests a number of measures, the implementation of which could reduce the negative impact of populist decisions on budget balance of the Pension Fund of Ukraine
{"title":"The influence of populism on the budget balance of the Pension Fund of Ukraine","authors":"Serhii Kolodii, M. Rebryk, Svitlana Kolodii","doi":"10.21511/PMF.07(2).2018.03","DOIUrl":"https://doi.org/10.21511/PMF.07(2).2018.03","url":null,"abstract":"The experience of states with limited democracy shows that populist manipulations often result in a collapse of the pension insurance system, and then – in an escalation of economic, political and social instability. Accordingly, the development of tools for identifying and preventing economic populism manifestations does not become irrelevant.Through analyzing the changes in pension legislation, as well as studying economic indicators’ dynamics, the article shows that pension insurance issues are widely used as tools for populist policy in Ukraine. This ultimately results in the formation of an abnormally low financial stability of the pension system. In particular, during the 2004 presidential election campaign and parliamentary election in 2007, there was a sharp short-term increase in the gap between growth rates of average pension and nominal GDP; significant deviation of replacement rate from its long-term average trajectory; and with some temporary lag, there emerged a substantial increase in transfers from the state budget.It is noted that the main tools for economic populism in Ukraine are: (1) permanent procrastination of retirement age raising; (2) “manual” pensions indexation; (3) the existence of a VIP pensions and early retirement system for certain population categories; (4) transfer of burden to lower-income social contribution payers as a result of limiting the maximum value of unified social tax base.The paper suggests a number of measures, the implementation of which could reduce the negative impact of populist decisions on budget balance of the Pension Fund of Ukraine","PeriodicalId":52837,"journal":{"name":"Public and Municipal Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44436135","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The aim of this article is to seek especially the impact of corruption on the bond and stock market development. For the methodology/approach, the authors analyze a sample of 20 listed Tunisian firms from the Stock Exchange and Financial market, covering the period from 2006 to 2016 by using pooling cross section techniques. The results find a significant positive effect of the level of corruption on the stock market index and the logarithm of capitalization. This is consistent with the view that corruption accelerates the economic growth by speeding up transactions and allowing private companies to overcome the inefficiencies imposed by the government. Furthermore, the results find a negative association is not significant with the dependent variable of traded value as a percentage of the number of listed companies.
{"title":"Quantitative relationship between corruption and development of the Tunisian stock market","authors":"Ibtissem Missaoui, Mohsen Brahmi, Jaleleddine BenRajeb","doi":"10.21511/PMF.07(2).2018.04","DOIUrl":"https://doi.org/10.21511/PMF.07(2).2018.04","url":null,"abstract":"The aim of this article is to seek especially the impact of corruption on the bond and stock market development. For the methodology/approach, the authors analyze a sample of 20 listed Tunisian firms from the Stock Exchange and Financial market, covering the period from 2006 to 2016 by using pooling cross section techniques. The results find a significant positive effect of the level of corruption on the stock market index and the logarithm of capitalization. This is consistent with the view that corruption accelerates the economic growth by speeding up transactions and allowing private companies to overcome the inefficiencies imposed by the government. Furthermore, the results find a negative association is not significant with the dependent variable of traded value as a percentage of the number of listed companies.","PeriodicalId":52837,"journal":{"name":"Public and Municipal Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-09-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42953683","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-09-24DOI: 10.21511/PMF.07(2).2018.02
Józef Antoni Haber, I. D’yakonova, Ann Milchakova
This paper examines the fintech concept and fintech market structure. The theoretical and methodological approaches to the adaptation of the Ukrainian banking market to fintech in terms of globalization are investigated. The problems of Ukrainian banking system reforming after the national economy long-term recession are determined. Phases of technology development in the Ukrainian banking system are considered and fintech innovations in Ukraine are discovered.
{"title":"Estimation of fintech market in Ukraine in terms of global development of financial and banking systems","authors":"Józef Antoni Haber, I. D’yakonova, Ann Milchakova","doi":"10.21511/PMF.07(2).2018.02","DOIUrl":"https://doi.org/10.21511/PMF.07(2).2018.02","url":null,"abstract":"This paper examines the fintech concept and fintech market structure. The theoretical and methodological approaches to the adaptation of the Ukrainian banking market to fintech in terms of globalization are investigated. The problems of Ukrainian banking system reforming after the national economy long-term recession are determined. Phases of technology development in the Ukrainian banking system are considered and fintech innovations in Ukraine are discovered.","PeriodicalId":52837,"journal":{"name":"Public and Municipal Finance","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2018-09-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48120214","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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