MANAGEMENT IMPACT OF THE STATE ON TRANSFORMATION PROCESSES IN THE FINANCIAL SECTOR OF UKRAINE

Abstract

Constant internal crises, corruption, ineffective and inappropriate reforms, the shadow sector -all theseundermine attempts to stabilize Ukraine's economy. It has been established that globalization, economic instability leads to a decline in production, unemployment, the transition of firms into the shadow sector, rising prices, and hence the deterioration of the financial sector. The article aims atstudyingthe theoretical foundations of the concept totransform the financial sector of the economy and providingpractical recommendations for the introduction of a new synergetic concept. The object of theresearch is the financial sector of Ukraine.The article analyzes the theoretical foundations and the current state of the financial sector of Ukraine. The identified shortcomings in the functioning of the model of the state regulation of the financial sector have made it possible to propose ways of its improvement in the conditions of globalization, for example, through the introduction of an effective policy of anti-crisis management at the macro level (national) and macro level (separate financial institutions). Complex application of its mechanisms will reduce the impact of the consequences of the crises of the past years, and timely diagnosis of the global trends will contribute to effective overcoming future crisis phenomena. It is proved that the new synergetic concept should be based on the development of social orientation, that is, the prevention of the collapse of regulatory and value structures and the weakening of theirsocializing and regulatory functions. As a result of the analysis of foreign experience in the transformation of the financial sector, proposals and recommendations for anti-crisis regulation have been developed, which will ensure the coordinated work of the state bodies supervising financial activities, create the necessary conditions for the implementation of financial innovations, the efficient work of all financial institutions and, eventually, will form the necessary environment for stable developmentof the entire Ukrainian economy. In general, the implementation of the above suggestions and recommendations will increase the efficiency of the process of transformation of the financial sector, optimize the organization of banking institutions, and ensure the creation of a program of the state crisis management of the financial sector of Ukraine in the conditions of globalization.