The use of financial instruments: European experience and lessons for Ukraine

Abstract

This topic is relevant for the current study of the financial situation in general, and the derivatives market in particular. In this context, it is also important to outline the degree of state support for the development of the derivatives market, having previously identified the priority areas of state activity in this area. The current development of global financial markets indicates their growing efficiency and increasing role of international capital markets in attracting credit resources. The purpose of the article is to study, evaluate and analyze financial instruments, their impact on the national economy, as well as problems in the introduction of new financial instruments. The article summarizes and analyzes foreign experience in the use of financial instruments on the example of EU countries. The most effective methods of state regulation of financial instruments that can be applied in Ukraine are demonstrated. The dynamics of changes in financial instruments used in the Ukrainian financial market is investigated. The importance of using financial instruments in the Ukrainian economy is substantiated. The article identifies the most important problems and suggests methods and ways of more efficient functioning of the studied market. It is proved that to increase the country’s competitiveness in the world financial market it is necessary to develop new financial instruments. The data on the use of financial instruments along with their grouping for 2013-2021 are systematized. It is necessary to further strengthen the tendencies of providing various types of financial support for regional development. In the future, it should also be taken into account that an indispensable condition for sustainable and effective regional development is institutional support, first of all, it is about regional development funds, which provides for an increase in the budgetary self-sufficiency of the regions. Thus, the coordinated activity of the financial system in a harmonious and professional combination of its functions is possible with the assistance of the state apparatus and a developed financial market