Капітальні інвестиції в Україні в умовах наростання нестабільності фінансових ринків

Abstract

Author analysed of the legal framework in the sphere of investment activity and gives the term investing which used in Ukraine, author presented graphically the main types of property and intellectual values, goals and forms of state regulation of investment in Ukraine. Author analysed statistical materials and main indicators which characterizing the state, structure, sources of capital investments and proposed characteristics of the state of capital investments in Ukraine during 2015-2019 years. The author assumes that in the conditions of increasing financial market instability, the role and importance of the state in the formation of legal support and the development of effective anti-crisis mechanisms to ensure the stability of the financial system and restore the growth rate of capital investment will be increase.The purpose of the article is to find out the legal basis for the formation of goals and forms of state regulation of investment activities, to analyze the current state of capital investment in Ukraine and identify key trends.Main results. The study of the regulatory framework in the field of investment revealed that in Ukraine there are three forms of state regulation of investment: public investment management; regulation of investment activity conditions; control over its implementation by all investors and participants in investment activities. State regulation of investment is carried out in order to implement economic, scientific, technical and social policy. In Ukrainian legislative practice, investments are understood as all types of property and intellectual values that are invested in objects of entrepreneurial and other activities, as a result of which a profit (income) is created and / or a social and environmental effect is achieved.One of the forms of investment aimed at the creation (acquisition), reconstruction, technical re-equipment of fixed assets, the expected useful life of which exceeds one year, is capital investment. The analysis of the main indicators characterizing the current state, structure, sources of capital investments proves that in general the state of capital investments in Ukraine during 2015-2019 was characterized by an increase in volumes in absolute terms. However, the growth of total capital investment in Ukraine in absolute terms in 2019 took place against the background of a reduction in the growth rate of capital investment in both tangible and intangible assets. In the structural context of capital investments by types of assets in 2019, the share of investments in tangible assets increased significantly (up to 96.4%).The structure of capital investments by sources of financing is dominated by the share of own funds of enterprises and organizations (more than 2/3 of the total). The growth rate of capital investments from local budgets accelerated. Instead, the growth rate of capital investment from the state budget continued to decline. The growth rate of capital investments in the form of bank loans and other loans also decreased. The amount of funds of the population for construction in 2019 showed a decrease. However, capital investment from other sources of funding has increased. Thus, in the context of growing instability of financial markets, the role and importance of the state in forming legal support and developing effective anti-crisis mechanisms to ensure the stability of the financial system and restore the growth rate of capital investment should increase. At the same time, it is necessary to reduce state intervention in market processes, improve the investment climate, business environment, which in turn will increase investment.