Досліджено зарубіжну та вітчизняну практики виведення з ринку проблемних банків. Розглянуто основні проблеми банківського сектору в Україні внаслідок масштабного виведення банків з ринку. Обґрунтовано практичні рекомендації щодо поліпшення ситуації в банківській системі.
Paper dwells upon critical consideration of contemporary scientific discourse on measuring financial inclusion. The features of existing approaches to data collection on the supply and demand of financial products and services are summarized, with generalization of their methods of obtaining, elements, sources, pros and cons. It is stated that according to this principle a key indicator of financial inclusion – Global Findex is formed, and its components are under consideration with a focus on disadvantages. The level of development of economy and Fintech, financial literacy and financial culture of the population are highlighted as the important aspects in financial inclusion assessment. Measurement of financial inclusion is found to be based on the assessment of groups of indicators such as the availability, level of use and compliance of financial services, the assessment of barriers and the relationship of households with business. The main advantages (comparability, structure, evaluation of exclusion factors) and the existing limitations of measuring financial inclusion (subjectivity, neglect of country characteristics, lack of a comprehensive indicator) are generalized. Authors substantiate key evaluation principles and present indicators of financial inclusion in Ukraine. Paper suggests to consider the assessment in two contexts: on the one hand, by financial market segment, and on the other, by four dimensions: accessibility, prevalence, effects and impact. Given the limited information available to measure financial inclusion at the global and local levels, there is a need for continuous research on the supply of financial services, detailing information from a demand position, on the importance of taking into account access barriers to financial services along with various aspects of socio-economic development.
The intrinsic property of modern economic development is financial deepening in the light of incremental spearheading financial innovation opportunities. The paper deals with the relationship between financial depth, financial innovation, and economic growth among 22 OECD economies over 2007–2018 by applying pooled OLS and fixed effect panel data regression analysis. The purpose of the paper is to empirically test whether the economic growth depends on financial depth, financial innovation, and institutional environment (Worldwide Governance Indicators). The findings shed light on the recent discussion on the pros and cons of financial innovation. The estimation results show that while financial depth is a strong predictor of economic growth across high- and upper-middle-income economies, financial innovation is a slightly weaker predictor. Despite the identified positive impact of financial innovation on economic growth, it is asserted that the negative effect of financial depth may indicate oversaturated financial market in developed countries. Сonsistent with the general notion that the institutional framework promotes the capacity of the financial sector for financial innovations implementation, this paper states that financial depth and financial innovations are better prerequisites of economic growth than institutional development. AcknowledgmentThe paper was funded as a part of the “Relationship between financial depth and economic growth in Ukraine” research project (No. 0121U110766), conducted in the State Institution “Institute for Economics and Forecasting of the NAS of Ukraine”.
This paper focuses on central banks' verbal interventions and takes a closer look at their impact on the exchange rate. As the main research methods, we chose statistical and sentiment analysis. The meaning of central banks' verbal interventions is examined by clarifying the importance of transparency for monetary policy. In order to understand the extent of the research, we present a review of the most outstanding examples of central banks' communication policies. The article assesses the transparency of the monetary policy of the National Bank of Ukraine (NBU) and generalizes foreign exchange-related indicators. The problem of expectations referred to the central monetary body, which influences communication policy, is also under consideration. We substantiate the interrelationship between the exchange rate and monetary policy trust indicators. The current research reviews regular and occasional groups of NBU's verbal interventions and outlines that business entities are focused on the exchange rate as the main factor of consumer goods' prices. We analyse the tendencies and effects of NBU's announcements on the exchange rate and as a result, reflect communication strategy priorities for Ukrainian central bank.
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