Видання зареєстровані авторами шляхом самоархівування
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Item Assessment and forecasting of Ukraine’s financial security: Choice of alternatives(LLC “Consulting Publishing Company “Business Perspectives”, 2022) Рекуненко, Ігор Іванович; Рекуненко, Игорь Иванович; Rekunenko, Ihor Ivanovych; Журавка, Федір Олександрович; Журавка, Федор Александрович; Zhuravka, Fedir Oleksandrovych; Nebaba, N.; Levkovych, O.; Chorna, S.Financial security of a country is an integral part of its economic security and the basis of national security. The paper aims to assess and forecast the level of Ukraine’s financial security using two methodological approaches (the existing one and the authors’ elaboration) to choose the best alternative. The first one is based on the Methodology of the Ministry of Economy of Ukraine. The alternative one has been developed as a multiplicative model of non-linear convolution of relevant direct and indirect impact indicators, considering the opportunity and risk, which is based on a combination of a power function and the Harrington method. A database of input indicators was formed with further differentiation according to their impact on Ukraine’s financial security. The research results demonstrated that during 2013–2019 Ukraine’s financial security integrated index was cyclical and constantly changing. A comparison of the existing methodology and the developed model demonstrated a certain discrepancy between the obtained results. It was substantiated that the proposed multiplicative non-linear convolution model for assessing and forecasting the state’s financial security is more relevant, includes current indicators sorted by their direct and indirect impact, and adjusts them according to the risk of impact on overall security in the country.Item Discretionary budget expenditure in the system of state regulation of the country’s socioeconomic development(LLC “СPС “Business Perspectives”, 2018) Рекуненко, Ігор Іванович; Рекуненко, Игорь Иванович; Rekunenko, Ihor Ivanovych; Кужелєв, М.О.; Нечипоренко, А.В.; Немсадзе, Г.The paper investigates discretionary budget expenditure and determines its role in the system of regulation of country’s socio-economic development. In a very difficult political and socio-economic situation, Ukraine faces an urgent need to find a balance between the amount of functions performed by the state and the level of their financial support. The analysis of the State Budget of Ukraine expenditure according to the functional classification in 2014–2017 has been carried out. In particular, the discretionary budget expenditures (on state functions, economic activity, defense budget expenditures, budget expenditure on public order, security and judiciary; environmental protection, housing and utilities) are carefully analyzed. The purpose of the article is to study trends in financing discretionary budget expenditure and determine their impact on the socio-economic development of a country. Discretionary budget expenditures are the study object. It is determined that socio-economic development of a country requires government to apply progressive forms, methods and principles of expenditure management between the budget system levels. This need is due to the objective necessity to achieve sustainable development of economy and population welfare. The main problems that reduce budget discretionary expenditure effectiveness in the current conditions are investigated and the main directions to improve their financing are offered. The obtained results indicate the need to revise the funding of discretionary budget expenditures depending on the state policy priorities.Item Modeling of structural and temporal characteristics in the corporate securities market of Ukraine(LLC “СPС “Business Perspectives”, 2019) Рекуненко, Ігор Іванович; Рекуненко, Игорь Иванович; Rekunenko, Ihor Ivanovych; Кужелєв, М.О.; Болдова, А.А.; Житар, М.О.; Стабіас, С.М.Розвитку корпоративного ринку цінних паперів та ефективного використання інструментів його регулювання неможливо досягти без моделей та методів економіко-математичного моделювання. Метою є аналіз та систематизація структурно-часових характеристик корпоративного ринку цінних паперів в Україні шляхом застосування методів економічного та математичного моделювання. У статті лінійна інтерполяція використовується для оцінки часової характеристики корпоративних цінних паперів в умовах ринкової невизначеності. Методи описового та імітаційного моделювання також застосовуються для формального опису процесу оцінки структурних характеристик цінних паперів. Результат дослідження передбачає розробку описової моделі для аналізу структурно-часових характеристик українського ринку корпоративних цінних паперів. З апробації запропонованої моделі можна зробити наступні висновки. По-перше, Фондова біржа Перспектива, Українська біржа та ПФТС є найважливішими торговими платформами. Вони визначаються щомісячною динамікою торгів і можуть належати до однієї групи - активних гравців на корпоративному ринку цінних паперів України. По-друге, з точки зору ендогенних пріоритетів, на розвиток ринку корпоративних цінних паперів найбільше впливають темпи інфляції (індекс споживчих цін), показники економічного розвитку (індекс виробництва основних галузей) та процентні ставки за альтернативними фінансовими інструментами (нові процентні ставки за депозитами). По-третє, швидкість випуску корпоративних цінних паперів та курс національної валюти не суттєво впливають на розвиток корпоративного ринку цінних паперів, зокрема, перший характеризується незначним негативним впливом, а другий - незначним позитивним впливом на динаміку цін.Item The impact of inflation targeting on macroeconomic indicators in Ukraine(Businness Perspectives, 2020) Kuzheliev, M.; Zherlitsyn, D.; Рекуненко, Ігор Іванович; Рекуненко, Игорь Иванович; Rekunenko, Ihor Ivanovych; Nechyporenko, A.; Nemsadze, G.The correlation between macroeconomic dynamics and the inflation rate is the subject of many economic studies. The principles of monetary policy are developed in classical economics studies, which are based on the theories of Keynes, Phillips, Campbell, etc. However, classic approaches require practical validation, especially with regard to modern economic trends in times of crisis and emerging economies. Therefore, the purpose of the paper is to investigate and summarize the impact of inflation targeting and other key monetary policy instruments on fundamental economic indicators in Ukraine during periods of stability and crises. An empirical analysis is based on official statistics from Ukraine for 2011–2019. This study uses econometric methods (multivariate regression and simultaneous equation model), which are applied for the general and transmission impact of inflation on the estimation of economic growth. The results prove that inflation does not affect (less than 0.46 linear correlation) fundamental economic indicators during periods of real GDP growth and a quarterly CPI level of less than 2%. On the other hand, there are significant simultaneous regressions (more than 0.8 coefficients of determination) between unemployed, spending on real final consumption, hryvnia exchange rate and monetary policy instruments (discount rate, international reserves, amount of government bonds, M3 monetary aggregate) for periods when the quarterly CPI (consumer price index) is more than 2%. Therefore, the traditional monetary policy implications are discussed for emerging economies.Item Proposals on development strategy of the financial market infrastructure in Ukraine(Virtus Interpress, 2014) Рекуненко, Ігор Іванович; Рекуненко, Ігор Іванович; Rekunenko, Ihor Ivanovych; Riabichenko, D.Development strategy of such financial market infrastructure that is able to optimize the processes of institutional component’s functioning and increase an efficiency of various operations in this market has to become an important direction of improvement and development of the financial market infrastructure. This paper aimed to rationale the development strategy of financial market infrastructure in Ukraine.Item Features and operation of stock market trading infrastructure(2013) Рекуненко, Ігор Іванович; Рекуненко, Игорь Иванович; Rekunenko, Ihor IvanovychThe article discusses the features and operations of the basic elements of stock trading infrastructure. Characterized the activity of traders and systems they use. Indentified basic development challenges of stock market infrastructure and proposed solutions.Item Impact of infrastructure on the stability of the financial market(Українська академія банківської справи Національного банку України, 2012) Рекуненко, Ігор Іванович; Рекуненко, Игорь Иванович; Rekunenko, Ihor IvanovychIn this paper determined the impact of infrastructure on development of financial markets. Provided description of the current state of the main components of the financial market – monetary and stock market of UkraineItem The ukrainian usage effect of the finance market self-regulation(2011) Рекуненко, Ігор Іванович; Рекуненко, Игорь Иванович; Rekunenko, Ihor IvanovychThe article represents the issue of activity of self-regulatory institutions on the financinal market of Ukraine. Their role in the regulation, the main types of risks and principles of activity are defined. Besides, the general recommendations concerning the settling the major problems in self-regulation have been issued.