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Despite the increasing role of cross-border payments within the globalization processes and rapid growth of venture sector, an issue of its implementation remains to be a debatable point for many countries. The paper identifies disruptive challenges for financial institutions need to adapt. The research investigates the value and the investment flows structure as most obvious indicators of FinTech and describes types of payments relationships there. The paper considers relationships between enterprises, financial institutions and individuals, which are formed in digital payments. To understand the difference between regular cross-border money transfers and P2P cross-border money transfers with TransferWise, both mechanisms were researched and the benefits underlined. For Ukraine, the improvement of existing cross-border payments system with FinTech is a crucial challenge. That is why it is important to focus on providing knowledge for people, supporting start-ups in the sector and learning the best implementation practices. A great example of cross-border payments of FinTech in Ukraine is TransferWise. The difference between regular cross-border money transfers and peer-to-peer (P2P) money transfers appears in its benefits, such as lower and more expectable transfer fee, mid-market exchange rate, less transaction period. By transforming existing cost structures and mitigating market imperfections, they provide innovative services that meet the users’ needs for speed, trust, low cost, usability, security and transparency. The results show high potential of FinTech for cross-border payment processing.
The state and society social interaction level assessment is extremely important for achieving sustainable development goals. In recent years, special attention has been paid to the research area to study the impact of public managementupon the successful implementation of these tasks. However, there is a lack of research that assesses the level of social interaction between the state and society through indicators of socio-economic development of countries, which are determined by the effectiveness of the mechanism of public marketing. The obtained results can be useful for public management bodies of different countries in the sustainable development tasks implementation.
It is proved that peculiarities of countries with the social-oriented economy are defined by either sufficient costs for the social sphere maintenance and development, or also by their essential influence on the citizens' welfare, as evidenced by the human development index, which is calculated on the basis of the citizens' material situation indicators and social and demographic indicators. Countries with Scandinavian and Western European social and economic development models are in the category with the highest level of human development. It has been revealed that although the state provides great financial support for the social sphere in these countries, financing sources diversification of projects and programs in the educational and medical branches is growing, the insurance medicine and accumulative level of the pension system are being developed. In general, innovative approaches to the financing of social programs are often used. The reasonability to use the integral system of the economy financial control, further improvement of assumptions regarding institutional mechanisms to provide sustainable human development, which are purposefully used by state institutions, is proved. The proposed model and calculations help to prove marginal conditions of the social costs' regulation of the State and local budgets of Ukraine, oriented to the human development. It is justified, that 10% is an optimal marginal norm of the annual rates regarding the relevant costs growth over the five years. Therefore, the annual decrease of the financing amounts over 10% of the financing amounts from the previous years are not accepted. It is emphasized that the financial management system of the sustainable human development has to be improved taking into account the public development priorities, economic cyclicity, the financial system transformations and the leading experience of the countries with the developed and transformational economy, in the first place in the application of innovative financial instruments of human development.
The subject of research is the methodology for calculating the effectiveness of investment in education at the public and private levels. The aim of the study is to summarize the theoretical and methodological aspects of the study of the effectiveness of investment in education at the public and private levels. Methods that were used in the research process: the method of comparative analysis, generalization, statistical and other research methods. Study results. The methodology for assessing the effectiveness of investment in education should take into account the fact that education efficiency is a complex category, the structure and content of which can be displayed by various forms of manifestation, namely: 1) in the area of: economic and social, 2) in terms of the level at which they are implemented: micro -, macroeconomic and international; 3) by subjects, receive benefits: internal (for direct participants in the educational process) and external (for “third parties”). At the same time, the effectiveness of the functioning of the educational sphere is determined by diverse factors, namely: 1) social: income level, demographic situation, state employment policy; 2) economic: taxation system, model of education financing (the ratio of public and private expenditures), government investment policy in the field of education, pricing policy in the field of education; 3) political and legal: the level of corruption, the political situation in the country, the national characteristics of the education system. The analysis of the features of the functioning of the educational sphere of Ukraine showed the restraining nature of its development, which, first of all, is associated with shortcomings in the process of state regulation of the sphere of educational services, therefore, taking into account the modern trends in the development of education should be the basis for a new modern methodology for assessing the effectiveness of investment in education. Application of results. The Ministry of Education and Science of Ukraine, The Ministry of Finance of Ukraine, The Ministry of Economic Development and Trade of Ukraine. Conclusions. The revealed advantages and disadvantages of existing methods and the lack of a generally accepted method for determining educational efficiency, as well as significantly excellent results of assessments obtained earlier by different authors and conclusions made by them, need to be improved existing or the development of a modern methodology for calculating the effectiveness of education, which is the subject of our further research.
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