Status and prospective trends of mechanisms of state financial support for economic development of Ukraine
Year: 2025
Type: article
Abstract: The article emphasizes that understanding the cause-and-effect relationships underlying the dynamics of financial relations to ensure coordinated action of financial mechanisms on the state and prospects of socio-economic phenomena, is one of the important tasks that need to be solved at specific stages of development. The actualization of such a solution is especially important in conditions of increasing instability or the urgent solution of emerging problems, which are characteristic of Ukraine today. It is determined that the rational organization of providing financial support for economic development, along with the essential and meaningful justification of the movement of financial relations, includes their coordination and focus on specific features and challenges in a certain period of time. It is noted that globalization, financialization, digitalization are among the factors that significantly affect the financial and digital space and modify the directions and mechanisms of support for economic development. At the same time, attention is drawn to the insufficient connection of such modifications with the problems of external financial dependence. This is especially true for deglobalization processes, which are accompanied by restrictions on international cooperation, protectionism and the growth of regulatory barriers. Therefore, the strategy of state financial policy in the face of rapid global challenges, while focusing on macroeconomic stability, should be inseparable from effective state support in the direction of strengthening development on its own financial basis. This involves the integration of innovative instruments such as crowdfunding, green bonds, etc. into the national financial system, increasing participation in global initiatives, raising the level of harmonization with international standards and popularizing Ukraine's investment opportunities. Their implementation will help reduce the vulnerability of the national economy to external shocks, and its financial system to external dependence.
Source: SCIENTIFIC BULLETIN OF POLISSIA
Author: Dmytro Biryuk
Institution: State Tax University
Language: English
Topic: Economic Issues in Ukraine
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4408886772