Innovations in assessing the efficiency of the instruments for the national economy de-shadowing: the state management aspect

Levchenko, Valentyna; Kobzieva, Tetiana; Boyko, Anton; Shlapko, T.V.

doi:10.21272/mmi.2018.4-31

Cited by 18 publications

(10 citation statements)

References 4 publications

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“…It has also been found that increased controls on corruption and increased political stability led to a reduction in the number of fraud cases in all sectors of the national economy. Also, the hypothesis regarding a relationship between the effectiveness of governance in the country and inclusive development has been empirically confirmed (Chou, 2018) as well as the growth of corruption under conditions of the shadow economy (Levchenko et al, 2018).…”

Section: Literature Reviewmentioning

confidence: 86%

Efficiency of oil-production: the role of institutional factors

Chygryn

Lyulyov

Pimonenko

et al. 2020

Engineering Management in Production and Services

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The article aims to provide a theoretical basis for the assessment of the institutional impact on oil production. The availability of fuel is the key driver of the functioning national economy, which determines the strategic and tactical landmarks of socioeconomic development and vectors of the country's foreign economic course. Such tendencies are represented in the results of the provided correlation analysis of the fluctuation between oil-production volumes and greenhouse gas emissions, the use of alternative energy sources, the number of patents for oil production, and unemployment. The provided bibliometric analysis, which was made using VOSviewer, has shown the content of interconnections between the categories of oil production and institutional determinants. The authors hypothesised that changes in the institutional environment and their interconnectedness formed a chain “oil production and oil rents → the level of corruption → the efficiency of public governance”. The hypothesis was confirmed by constructing a system of dynamic models and using the Generalised Method of Moments. The calculations confirmed that oil rents were associated with corruption and were a direct threat to the stability of public institutions. An increasing level of corruption was associated with an increase in the level of rent payments and occurred only when the quality of democratic institutions was below the threshold level. The current level of efficiency in public administration did not have a significant impact on national oil production. Of all indicators, only the level of political stability had a statistically significant impact on oil production. The identified interconnections provide the basis for creating an efficient state policy aimed at effectively functioning state institutions, which promote the development of the oil industry, and the reduction of the country's energy dependence as well as strengthen the resilience of the national economy.

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Section: Literature Reviewmentioning

confidence: 86%

Efficiency of oil-production: the role of institutional factors

Chygryn

Lyulyov

Pimonenko

et al. 2020

Engineering Management in Production and Services

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“…З точки зору детінізації та підвищення економічної стабільності національної економіки дане питання досліджували М.А. Субе та А. Бойко [6], Л. Сінєвічене, О. Шкарупа та Л. Сисоєва [7], Т. Кобзієва і Т. Шлапко [8], М. Паліенко та О. Люльов [9]. З боку оподаткування підприємств -Г. Яровенко, Т. Басенко [10], Д. Марченко [11] та О. Люльова [12].…”

Section: економіка і управління підприємствамиunclassified

Using of insurance companies ‘services for the purpose of legalization of criminal income of economic agents and avoidance of taxation

Lyeonov

Kuzmenko

Mynenko

et al. 2020

vtneu

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Annotation. Providing the stable and continuous functioning of the financial services market is one of the important areas of state economic policy. Without the use of financial intermediaries, the economy cannot function. Criminals, in turn, use the weaknesses of the country’s financial system for their own illicit enrichment or the pursuit of other criminal interests. By laundering illegally obtained money, criminals destabilize the country’s financial system and expand the size of the shadow economy. The purpose of the article is to characterize the possibility of using the services of insurance companies in order to legalize the criminal income of economic agents and tax evasion by enterprises. Results. The article identifies the risk of using the services of insurance companies to legalize illegally obtained income and the place of these services in the market. The study comprehensively considered the possibility of fraudsters using the services of insurance companies to launder the illegal income of economic agents and tax evasion by enterprises. Examples of legalization of illegal income through the services of insurance companies were given. There are three main groups of insurance companies’ services: general insurance, life insurance (pension or insurance for investments), and reinsurance. The main risks associated with money laundering are inherent in each group of services. Summarizing the analysis, general recommendations for insurance companies to prevent money laundering through their services were identified. The prospects for further research. The Prospects for further research are the quantitative characterization of the risk of legalization of criminal income of economic agents and tax evasion for each group of services, as they have their own specific features.

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“…As for the state of the Ukrainian banking sector, according to a study within the USAID Project «Financial Sector Transformation» (Ukrainian Financial Sector Transformation, 2019), Ukrainian banks are accepting digital transformation not as an opportunity but as like a «parallel world». And as a result, Ukrainian banks currently have a low level of participation in fintech companies' capital, members of the bank's board have limited experience in the fintech industry (Levchenko et al, 2018;Vasylieva et al, 2017). Moreover, only 50% of banks have a digital strategy.…”

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confidence: 99%

Innovation technology and cyber frauds risks of neobanks: gravity model analysis

Koibichuk

Ostrovska

Kashiyeva

et al. 2021

MMI

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In the system of global information space, it is important to adequately calculate and assess the factors of successful functioning of the banking system, which are directly the engines of the country's development, economic stability, especially from the standpoint of qualitative measurement of innovative technology and human capital in rapid cyber fraud. The work is devoted to studying factors that describe the components of efficiency and potential use of innovative technologies in neo-banking in 90 countries to determine the level of risk of their use for money laundering based on gravitational modeling methodology. The authors substantiated that using four factors consisting of 13 components of digital evolution is expedient. Three indicators (access infrastructure, transaction infrastructure, and fulfillment infrastructure) allowed forming the supply condition factor. It provides a score on developing digital and physical infrastructure to ensure the digital economic system's quality. The «demand conditions» factor consists of 4 indicators (human quality level, device absorption level and digital broadband level, digital payment absorption), which show how much consumers are willing and able to participate in the digital economic system and whether they have the tools and skills needed to connect to the digital economy. Three indicators (institutional effectiveness and trust, institutions and the business environment, institutions and the digital ecosystem) shaped the «institutional environment» factor. It relates to research on countries' support for digital legislation, governments' investment in digitalization, and regulations. Regulate the quality of storage and access to digital data. The fourth factor of «innovation and change» consists of three features that characterize the state of key innovative economic system inputs (talents and capital), processes (i.e., cooperation between universities and industry), and outputs (i.e., new scalable digital products and services). The generalized indicator was formed based on these indicators. It characterizes the degree of risk of using the services of neobanks of the studied countries by economic agents or individuals to legalize criminal proceeds. At the first stage of the proposed method, the authors substantiated the statistical significance and possibility of using the studied indicators. The procedure of logarithmic normalization was carried out. The toolkit of descriptive statistics of the Statgaphics Centurion package provided the normalization parameters. In the second stage, the indicators were collapsed using a geometric weighted average, which provides meaningful information about the average dynamics rate. The third stage provided calculating the value of the integrated rating assessment of the degree of risk of using innovative technologies, services, and neobanking services for money laundering based on gravity modeling methods. The findings showed that 12.22% of the studied countries had a high degree of risk, 25.56% – a medium level of risk, 25.56% – a risk below the average level, for 36.66% of countries – the risk was almost absent.

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Innovations in assessing the efficiency of the instruments for the national economy de-shadowing: the state management aspect

Cited by 18 publications

References 4 publications

Efficiency of oil-production: the role of institutional factors

Efficiency of oil-production: the role of institutional factors

Using of insurance companies ‘services for the purpose of legalization of criminal income of economic agents and avoidance of taxation

Innovation technology and cyber frauds risks of neobanks: gravity model analysis

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