The impact of global financial transformations on the economic security of Central and Eastern European countries

Bulatova, Olena; Marena, Tetyana; Chentukov, Yurii; Shabelnyk, Tetiana

doi:10.21511/pmf.09(1).2020.01

Cited by 12 publications

(8 citation statements)

References 8 publications

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“…The proposed methodic approach is applied to assess the level of debt security of Central and Eastern European countries. According to the results of authors' previous studies (Bulatova, Chentukov, Marena, Shabelnyk, 2020), the countries of the group are highly differentiated both in terms of overall level of economic development and the state of indebtedness and solvency (Fig. 1).…”

Section: Resultsmentioning

confidence: 94%

Debt Security of CEE Countries: Actual Approaches and Methods of Evaluation

2021

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The study is aimed at analyzing methods of country’s debt security evaluation, developing methodic approach towards estimating the level of debt security based on the calculation of the integral index, and assessing the level of debt security of CEE countries on the basis of the proposed approach. A method of calculating the integral debt security index of the country is developed, taking into account generally accepted thresholds of indebtedness and solvency indicators and the trend of countries’ increasing dependence on external borrowing. The proposed approach is practically tested in assessing the level of debt security of CEE countries. It is determined that the group of CEE countries is differentiated by the state of indebtedness and solvency. The highest level of debt security is demonstrated by Bulgaria, the Czech Republic and Estonia, the worst situation with the debt security is formed in Slovakia and Slovenia. Based on the analysis of the dynamics of integral debt security indices for 2007–2019, the grouping of CEE countries by the level and zones of debt security, the trends of deterioration of the region’s debt security in 2010–2015 and its improvement in 2016–2019 has been found out. The proposed approach is universal one; it can be used to calculate debt security indices and to provide comparative studies of the debt sector of any country or region. It can also help to identify weaknesses in country’s debt security that is critically important for reasoning the public policy measures to ensure a proper level of debt security.

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Section: Resultsmentioning

confidence: 94%

Debt Security of CEE Countries: Actual Approaches and Methods of Evaluation

2021

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“…At the same time, this influence is decisive for Ukraine, and much less for Poland. Bulatova et al (2020), studying the impact of global financial transformations on the formation of economic security in Central and Eastern Europe, note that the most significant determinants are high volatility of stock market capitalization and public finance indicators -uneven distribution of public funds, growing external debt. The authors note that the indicators of global and regional state funds and indicators of the state of financial markets have different vectors.…”

Section: Literature Reviewmentioning

confidence: 99%

Balancing state budget expenditures: A case of Ukraine using the simplex method

Shkolnyk

Ladyka

Orlov³

et al. 2021

Public and Municipal Finance

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The consolidated state budget expenditures reflect the condition of performance by a country of its basic functions and allow defining priority directions for the implementation of state policy. Their optimal ratio allows satisfying the interests of citizens, business and society as a whole, and can provide a significant impetus for economic growth. The analysis of state budget expenditures using the example of Ukraine showed that their structure is unbalanced. Therefore, the purpose of the study was to find the necessary balance. The optimization of Ukraine’s state budget expenditures was carried out using the simplex method based on their structure from 2007 to 2019. Since the priorities of Ukraine’s strategic economic and political development are the implementation of the EU standards and norms, the structure of the EU’s state budget expenditures is chosen as a guideline for determining the optimal structure of expenditures. As a result, it is determined that in order to harmonize the structure of the Ukrainian budget expenditures with the approaches implemented in the European Union, minimal changes in public order spending are required. In addition, significant areas of funding include healthcare, economic activity, social protection and security. At the same time, intergovernmental transfers need to be significantly reduced, the amount of which should be revised after the completion of the financial decentralization reform.

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“…This, in turn, reduces the economic security of the state. In addition, Bulatova et al (2020) characterized the influence of global financial transformation. The correlation between global and regional financial trends was identified, which shaped CEE countries' economic security and revealed their economic security shifts.…”

Section: Literature Reviewmentioning

confidence: 99%

International economic and social determinants of the state economic security: A causal analysis

Orlov¹,

Bukhtiarova

Marczuk

et al. 2021

Problems and Perspectives in Management

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The priority task for ensuring the economic security of a country, which is especially noticeable in the rapidly changing conditions of the contemporary global world, is to forecast challenges and threats. Economic security is one of the necessary conditions for state development, which provides guidelines for making major social and economic decisions. There are a few studies on the determinants of the economic security and no data about security determinants that are required to monitor it. The study aims to identify possible links between leading determinants of the economic security. For this purpose, on the example of Ukraine, causal links between the formation of real GDP (as the leading determinant that characterizes the economic security of the state), 11 determinants that indicate the level of international economic development, and 6 determinants of social development for the period 2014–2020 were determined. With a 5% level significance, the impact on the volume of real GDP of 14 determinants of state economic security was noted and specific time lags were defined. Besides, the bilateral causal effect and lack of causal connection between individual determinants were mentioned. Findings are helpful for effective public administration. In addition, active measures are needed to combat corruption, shadow and criminal economy, and state protection of domestic producers operating in the military, food, information, and energy security sectors. AcknowledgmentAlina Bukhtiarova gratefully acknowledges financial support from the Ministry of Education and Science of Ukraine (0120U100473).

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The impact of global financial transformations on the economic security of Central and Eastern European countries

Cited by 12 publications

References 8 publications

Debt Security of CEE Countries: Actual Approaches and Methods of Evaluation

Debt Security of CEE Countries: Actual Approaches and Methods of Evaluation

Balancing state budget expenditures: A case of Ukraine using the simplex method

International economic and social determinants of the state economic security: A causal analysis

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