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Title | The impact of financial digitalization on ensuring the economic security of a country at war: New measurement vectors |
Authors |
Shkolnyk, Inna Oleksandrivna
Frolov, S. Orlov, V. Datsenko, V. Kozmenko, Y. |
ORCID |
http://orcid.org/0000-0002-5359-0521 |
Keywords |
financial sector stock market public debt public budget integral indicator normalization Harrington’s method |
Type | Article |
Date of Issue | 2022 |
URI | https://essuir.sumdu.edu.ua/handle/123456789/89897 |
Publisher | LLC “СPС “Business Perspectives” |
License | Creative Commons Attribution 4.0 International License |
Citation | Inna Shkolnyk, Serhiy Frolov, Volodymyr Orlov, Victoriia Datsenko and Yevhenii Kozmenko (2022). The impact of financial digitalization on ensuring the economic security of a country at war: New measurement vectors. Investment Management and Financial Innovations, 19(3), 119-138. |
Abstract |
The military actions in Ukraine have actualized the transformation and revision of
existing approaches to assessing the country’s economic security. Financial security,
which is considered in this paper through its standard components such as financial
sector security, stock market security, debt and budget security, has a significant effect
on the formation of economic security. At the same time, digitalization in the financial
sector was identified as a new component that provides access to financial resources
even in the context of the deployment of hostilities in Ukraine. Therefore, this study
assessed the effect of the state of financial security, taking into account the importance
of financial digitalization for the economic security of Ukraine.
Based on quarterly data for the period 2015–2021, 42 indicators were analyzed, which
were grouped according to the relevant components of financial security, and their integral indicators were determined using the Harrington method. A factor analysis of the
formation of economic security was carried out using the principal components analysis,
and an integral indicator of a country’s economic security was calculated based on the
Kinney multiplicative convolution. The integral indicator of economic security for 2025–
2021 doubled and amounted to 0.63 units, which was due to the increased influence of
financial digitalization processes, all other components either slowly decreased or were
stable. Thus, the reserve of economic security that was formed during this period, including due to the intensive digitalization of the financial sector, allowed Ukraine to survive
the first weeks of the war and ensure the functioning of the financial system. |
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File | Size | Format | Downloads |
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IMFI_2022_03_Shkolnyk.pdf | 654.94 kB | Adobe PDF | 1779663954 |
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