MACROECONOMIC TOOLS FOR ENSURING RESILIENCE OF THE FINANCIAL CORPORATIONS SECTOR

Diana Shkuropadska

Abstract


Research the tools for ensuring resilience of the financial corporations sector is relevant, given the fact that the development of the world economy is increasingly subject to the shock influences, to which financial crises are imposed.
The aim of the article is to identify and justify macroeconomic tools according to the directions for ensuring resilience of the financial corporations sector.
The theoretical-methodological base of the article is scientific works of scientists and reports of international organizationsfor directions and tools for ensuring resilience of the financial corporations sector and the economy in general. The general approaches and research methods have been used at preparing the article: theoretical generalization, analysis, synthesis and system method.
The use of these methods allowed to consider approaches of leading international audit companies to understand the concept “resilience of the financial corporations”. On this basis, there was suggested the author's definition of the concept “resilience of the financial corporations sector” and defined it essential characteristics.
It was explained, that the process of ensuring resilience of the financial corporations sector involves the implementation of macroeconomic tools in accordance with the following areas: the introduction of economic stimulus packages, attractive lending conditions, tax and investment benefits, promoting innovation, development of compensation mechanisms, international financial support.
The important attention in the study was paid to the role of the state in the process of implementing macroeconomic tools for ensuring resilience of the financial corporations sector. Attention is focused on the fact, that under shock influences the state should implement macroeconomic tools in line with current problems in the development of the financial corporations sector. This in turn will ensure its profitability at a level sufficient for normal functioning.

Keywords


resilience; financial corporations sector; shock influences; macroeconomic tools; economy

Full Text:

PDF

References


OECD Home. Economic resilience: Vulnerability indicators (2017). Available at: https://www.oecd.org/eco/growth/economic-resilience.htm

Economic resilience in EMU. European Commission.Directorate general economic and financial affairs (2017). Brussels, 13. Available at: https://www.consilium.europa.eu/media/23535/eurogroup-15-september-item1-com-note-economic-resilience-in-emu.pdf

International Monetary Fund. About the IMF. How we do it. Available at: https://www.imf.org/external/about/howwedo.htm

Boiko, A. (2017). Zabezpechennya stiykosti natsionalnoyi ekonomiky. Zovnishnya torhivlya: ekonomika, finansy, pravo, 4 (93), 16–27. Available at: http://zt.knteu.kiev.ua/files/2017/04(93)/02.pdf

Kozlovskiy, S. (2013). Indykatyvni metody zabezpechennya stiykosti ekonomiky Ukrayiny. Efektyvna ekonomika, 10. Available at: http://www.economy.nayka.com.ua/?op=1&z=2373

Argyroudis, S. (2019). Tools for resilience assessment: developments, limitations and future needs. 2nd International Conference on Natural Hazards and Infrastructure. Chania. Available at: https://www.researchgate.net/publication/334173141_Tools_for_Resilience_Assessment_Developments_Limitations_and_Future_Needs

Klasyfikatsiya instytutsiynykh sektoriv ekonomiky Ukrayiny (2014). Nakaz Derzhavnoyi sluzhby statystyky Ukrayiny No. 378. 03.12.2014. Available at: http://www.ukrstat.gov.ua/klasf/st_kls/op_kise_2016.htm

The System of National Accounts 2008 (2008). SNA. Available at: https://unstats.un.org/unsd/nationalaccount/sna2008.asp

Ernst & Young. Perspectives: operational resilience in financial services (2019). Available at: https://www.parthenon.ey.com/Publication/vwLUAssets/ey-perspectives-operational-resilience-in-financial-services/$FILE/ey-perspectives-operational-resilience-in-financial-services.pdf

KPMG Global. Operational Resilience (2018). Available at: https://home.kpmg/xx/en/home/insights/2018/07/operational-resilience-fs.html

Operational Resilience (2019). PricewaterhouseCoopers. Available at: https://www.pwc.ch/en/publications/2019/operational-resilience_final_web-singles.pdf

Internal audit hot topics for 2020 planning (2020). BDO. Available at: https://www.bdo.co.uk/getmedia/f279e7cf-b2e6-4d12-b9c7-feb3b5154283/Internal-Audit-Hot-Topics-2019-BDO.pdf.aspx

IT change and operational resilience in financial services (2019). Deloitte. Available at: https://blogs.deloitte.co.uk/financialservices/2019/06/ecrs-blog-it-change-and-operational-resilience-in-financial-services.html

Striving for operational resilience: the questions boards and senior management should ask (2019). Oliver Wyman. Available at: https://www.oliverwyman.com/our-expertise/insights/2019/may/striving-for-operational-resilience.html

Milliman. Operational resilience in an ever changing landscape (2019). Available at: http://uk.milliman.com/uploadedFiles/insight/2019/Operational-Resilience.pdf

Pro zatverdzhennya Polozhennya pro rehulyuvannya Natsionalnym bankom Ukrayiny likvidnosti bankiv Ukrayiny (2009). Postanova Natsionalnoho banku Ukrayiny No. 259. 30.04.2009. Available at: https://zakon.rada.gov.ua/laws/show/z0410-09

Pidtrymka likvidnosti bankivskoyi systemy Natsionalnym bankom Ukrayiny (2009). Ofitsiyne Internet-predstavnytstvo NBU. Available at: https://old.bank.gov.ua/control/uk/publish/article?art_id=84310&cat_id=70880

Operatsiyi repo. Instrumenty monetarnoyi polityky. NBU. Available at: https://old.bank.gov.ua/control/uk/publish/article?art_id=107598&cat_id=46470

Janíčko, M. (2015). Mainstream Versus Heterodox View on Financial Innovation. Procedia Economics and Finance, 30, 352–363. doi: http://doi.org/10.1016/s2212-5671(15)01302-7

Zavolokina, L., Dolata, M., Schwabe, G. (2016). The FinTech phenomenon: antecedents of financial innovation perceived by the popular press. Financial Innovation, 2 (1). doi: http://doi.org/10.1186/s40854-016-0036-7

Kvasha, T., Pysarenko, T. (2018). Stan innovatsiynoyi diyalnosti ta diyalnosti u sferi transferu tekhnolohiy v Ukrayini u 2017 rotsi. Kyiv: Ukrayinskiy instytut naukovo-tekhnichnoyi ekspertyzy ta informatsiyi, 98. Available at: https://mon.gov.ua/storage/app/media/innovatsii-transfer-tehnologiy/monitoring-prioritet/stan-id-2017-f.pdf




DOI: http://dx.doi.org/10.21303/2504-5571.2020.001110



Copyright (c) 2020 Diana Shkuropadska

Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

ISSN 2504-5571 (Online), ISSN 2504-5563 (Print)