Factor Of Socio-economic Development Research Articles

Health trade-offs in pursuit of livelihood security: exploring the intersection of climate, migration and health from the perspective of Mekong Delta migrants in Ho Chi Minh City, Vietnam

ABSTRACT As climate change increasingly interacts with socioeconomic development factors to contribute to migration, understanding how climate and migration can coalesce to exacerbate health risks is urgent. Our study examines how migration influences the health of Mekong Delta migrants in Ho Chi Minh City and explores the role of weather and climate variability in the migration experience and health status of migrants before and after migration. Using a qualitative approach, we conducted 43 in-depth semi-structured interviews. We found migration is a strategy to cope with livelihood insecurity in the Mekong Delta. Livelihood trade-offs in Ho Chi Minh City produce precarious living and working conditions contributing to changes in the self-reported health status of migrants after migration, while climate variability is a threat multiplier for migrants’ health and livelihoods in both the Mekong Delta region and Ho Chi Minh City. Our findings illustrate the intersections of climate, migration and health where migrants make strategic health trade-offs to pursue better livelihoods, whilst weather and climate variability exacerbate the health risks and livelihood insecurity of migrants. This study supports the need to implement policies that reduce trade-offs, strengthen migrants’ adaptive capacity, and address underlying socioeconomic and political factors shaping vulnerability across the rural-urban continuum.

Сlassification and assessment of factors of socio-economic development of the region

Сlassification and assessment of factors of socio-economic development of the region

Opportunities and threats of digital transformation management education

The changes taking place in the world presuppose the inevitable entry of business, science, education into the digital space. For such a serious step, Russian organisations in any field of activity need a comprehensive readiness of the entire system, supported not only by the enthusiasm of employees and the ability of managers to experiment. Without thoughtful high-quality preparation of all system elements and connections, digital transformation can turn out to be an untimely costly measure that hinders the development of organisations. The article analyses the barriers to the economic digitalisation and management education that affect the digital transition success. Education is viewed as a leading factor in socio-economic development, therefore, the demand for digitalisation is addressed primarily to education. The article raises the problem of the lack of a convincing scientific psychological and pedagogical concept of digital learning, which could be used by subjects of education as a basic one. The results of a students’ survey of management specialties of the university showed: the professional competencies of modern managers necessary for activities in the era of the digital revolution have to be expanded, the question arises of the reasonable disciplines inclusion that correspond to real needs in the educational programs of the management university.

CORRELATION AND INTERACTION OF ECONOMIC CREATIVITY FACTORS AS A DETERMINANT OF SUSTAINABLE DEVELOPMENT (ON THE EXAMPLE OF THE EU COUNTRIES)

The creative economy is currently demonstrating quite intensive development indicators, and the share of the creative sector in GDP creation is constantly growing. The aim of this article is to reveal the interrelation and interdependence of socio-economic development factors and to clarify the place of the creative sector in ensuring sustainable economic growth. On the basis of 19 variables, the economies of the EU countries were analyzed by means of cluster analysis, which allowed the authors to single out 8 clusters in the constructed dendrogram, united by the nature and trends, as well as the role of the creative sector in these processes. In addition, the degree of correlation and interaction between the influencing factors themselves was described. Using RStudio, the authors built two multiple regression models, where the dependent variables were GDP and the global creativity index, and the factors were the indicators used to calculate the creativity index. Innovations and creativity are one of priorities of the program of socio-economic development of the European Union. There is a universal approach to understanding the importance of creative economy in the EU. However, the practical implementation of the strategy of development and activity of the creative industries by the EU countries is carried out in the following different directions – the foreign economic expansion of the creative industries themselves; the promotion of all national culture at the international level; export-oriented development of the creative sector of the economy; the lack of a separate comprehensive strategy of foreign economic activity for the creative industries, but the implementation of various programs and measures aimed at promoting exports of products of these industries as part of a national development strategy. Overall, the active functioning of the EU creative sector directly or indirectly affects the economy by improving its performance and creating jobs, stimulating innovation, and contributing to social and sustainable development. As a result, it was found that the global creativity index is largely dependent on the share of the creative class. It has also been proved that the creative and cultural industries determine the growth of a country's economy in terms of traditional economic and employment indicators. Investments in the creative economy will increase the qualitative and quantitative indicators of sustainable economic development.

Current problems and prospects for the development of social entrepreneurship in Latvia

The article is devoted to the analysis of development trends, identification of problems and elaboration of recommendations for the development of social entrepreneurship in Latvia. The subject of study is theoretical and practical aspects of functioning of social enterprises in the context of current trends in the development of social entrepreneurship in Latvia. The purpose of the study:, to identify factors and problems of functioning of social enterprises in Latvia based on the analysis of their activities, as well as to evaluate possibilities for the development of social entrepreneurship in Latvia in modern environment. Research methods: content analysis, historical, analytical, comparative, tabular, graphical. Results of the study: historical prerequisites for the emergence of social entrepreneurship phenomenon in the world were considered. Based on the analysis of the development of social entrepreneurship in Europe, an analysis has been made and trends in the development of social entrepreneurship in Latvia in sectoral and regional contexts have been identified. The institutional environment and regulatory framework governing the development of social enterprises in Latvia were explored. The analysis of the main factors of socio-economic development of the country, which have a direct impact on the development of social entrepreneurship, has been carried out. The possibilities and advantages of developing social enterprises in Latvia have been described. Problems have been identified and recommendations have been elaborated for the further development of social entrepreneurship in Latvia. Applicability of the study results: conclusions and results can be used in the work of social enterprises within various fields of activity, in the work of associations of social entrepreneurship and other non-governmental organizations, authorities, as well as in the educational process of higher education institutions focused on economics and social welfare.

Assessing the life quality and socio-economic differentiation in rural areas of the Krasnoyarsk Krai

Subject. The article considers the socio-economic development of rural areas and ensuring decent living conditions for the rural population. Objectives. We analyze the indicators of life quality of the rural population of the Krasnoyarsk Territory and the socioeconomic development of the region. Methods. The study employs the index method of assessing the quality of life and the level of socio-economic development. Results. Rural areas of most districts of the Krasnoyarsk Territory can be classified as extremely depressed. They are characterized by very low level of income, health services, preschool education, and provision of communal infrastructure facilities. Areas with a special legal status, the Krasnoyarsk agglomeration, and certain areas having large industrial enterprises are characterized by higher values of indicators of well-being and infrastructure development. The strong agricultural production in a separate municipal district is not a determining factor of socio-economic development in the current conditions. Conclusions. It is crucial to develop a regional social standard for the well-being of rural residents. It is necessary to increase the share of budget expenditures for rural areas up to 20–25%, and to adopt a regional interdepartmental program for the development of rural areas of the Krasnoyarsk Territory.

Recharge and Geochemical Evolution of Groundwater in Fractured Basement Aquifers (NW India): Insights from Environmental Isotopes (δ18O, δ2H, and 3H) and Hydrogeochemical Studies

Considering water as a limiting factor for socio-economic development, especially in arid/semi-arid regions, both scientific communities and policymakers are interested in groundwater recharge-related data. India is fast moving toward a crisis of groundwater due to intense abstraction and contamination. There is a lack of understanding regarding the occurrence, movement, and behaviors of groundwater in a fractured basement terrane. Therefore, integrated environmental isotopes (δ18O, δ2H, and 3H) and hydrogeochemical studies have been used to understand the recharge processes and geochemical evolution of groundwater in the fractured basement terranes of Gujarat, NW India. Our results show that the relative abundance of major cations and anions in the study basin are Ca2+ > Na+ > Mg2+ > K+ and HCO3− > Cl− > SO42− > NO3−, respectively. This suggests that the chemical weathering of silicate minerals influences the groundwater chemistry in the aquifer system. A change in hydrochemical facies from Ca-HCO3 to Na-Mg-Ca-Cl. HCO3 has been identified from the recharge to discharge areas. Along the groundwater flow direction, the presence of chemical constituents with different concentrations demonstrates that the various geochemical mechanisms are responsible for this geochemical evolution. Furthermore, the chemical composition of groundwater also reflects that the groundwater has interacted with distinct rock types (granites/granulites). The stable isotopes (δ18O and δ2H) of groundwater reveal that the local precipitation is the main source of recharge. However, the groundwater recharge is affected by the evaporation process due to different geological conditions irrespective of topographical differences in the study area. The tritium (3H) content of groundwater suggests that the aquifer is mainly recharged by modern rainfall events. Thus, in semi-arid regions, the geology, weathering, and geologic structures have a significant role in bringing chemical changes in groundwater and smoothening the recharge process. The findings of this study will prove vital for the decision-makers or policymakers to take appropriate measures to design water budgets as well as water management plans more sustainably.

Wind Energy Data Analysis and Resource Mapping of Dangla, Gojjam, Ethiopia

Energy is one of the most important factors in socio-economic development. The rapid increase in energy demand and air pollution has increased the number of ways to generate energy in the power sector. Currently, wind energy capacity in Ethiopia is estimated at 10,000 MW. Of these, however, only eight percent of its capacity has been used in recent years. One of the reasons for the low use of wind energy is the lack of accurate wind atlases in the country. Therefore, the purpose of this study is to develop an accurate wind atlas and review the wind resources using Wind Atlas Analysis and Application Program in Dangla so that the best sites used for the installation of wind farms can be easily identified. Wind climatology data, vector maps, and wind turbine data were used to model the Wind Atlas Analysis and Application Program. The wind data collected from National Meteorology Survey Agency over three years were used for the analysis. Besides, vector data for the survey area was prepared using Global Mapper V20.1. In this study, the Wind Atlas Analysis and Application Program tool was used to estimate wind resources. The wind resource map was developed at an altitude of 80 m above ground level, and a horizontal axis type wind generator called (i.e., GridStreamer Vestas V100 1.8 MW) was selected from the Wind Atlas Analysis and Application Program catalog to mimic the wind farm. The results obtained from the analysis of actual wind data showed that the minimum wind speed was 0.12083 m/s while the maximum wind speed was 9.96389 m/s. At a height of 10 m a.g.l., the mean wind speed and wind power density were 1.8 m/s and 9 w/m2, respectively. The most common wind direction was also discovered to be 210 degrees. The maximum wind speed and capacity factor were available around hills, according to the wind resource map, and the net annual energy output of the Dangla wind farm at a turbine height of 80 m a.g.l. was found to be 282.726 GWh (or, 32.27 MW). The farm’s capacity factor was also discovered to be 9.54 percent, indicating that the site is rated as low potential.

СУСПІЛЬНО-ГЕОГРАФІЧНА ОЦІНКА ПРОБЛЕМ ТА ПЕРСПЕКТИВ РОЗВИТКУ ТУРИЗМУ У МІСТІ ВОЛОДИМИР, УКРАЇНА

This article is devoted to the socio-geographic assessment of the problems and prospects of tourism development in the city of Volodymyr. The choice of the case study city is due to the active processes of forming the brand of the city of Volodymyr, which have been observed in recent years, as well as its border economic and geographical location. The authors characterized the infrastructure of tourism as a factor in the development of the city territory, as well as considered modern approaches to the formation of the tourist attraction of the city territory. The article describes the methodical aspects of the evaluation of the city's tourist sphere, gives a detailed description of the tourist resources and tourist infrastructure of the city of Volodymyr, as well as reveals the essence of branding and promotion of the city. The article presents an assessment of the state of the tourist sphere of the city of Volodymyr by internally displaced persons, namely tourist facilities, transport, accommodation and catering facilities, ATMs, shopping centers and sanitary infrastructure facilities (public toilets). With the help of the SWOT analysis method, the authors identified promising directions for optimizing the city's tourist attractiveness and proposed a number of main guidelines for the strategic development of the city's tourist sphere: further development of cultural and historical tourism; development of tourist and related infrastructure; activation of advertising and image work at the international level to attract foreign guests; attraction of grant support for the development and restoration of architectural monuments; development of educational tourism. The conducted research proved that tourism as a branch of activity can act as one of the main effective factors of socio-economic development of the territory.

Digitalization of the tourism industry as a factor of socio-economic development of Russia

Digitalization of the tourism industry as a factor of socio-economic development of Russia

Assessment of the Influence of Tax and Socio-Economic Factors on the Decision on the Territorial Location of Business in Russia

One of the most important issues of regional development and planning is to determine the factors influencing the decision-making on the placement of new companies. The purpose of the study is to study the influence of socio-economic and tax factors on business decisions regarding the territorial location of a company in Russia. Panel data for the period 2017–2021 are considered. in all regions of Russia. We have determined a set of tax factors (revenues to the consolidated budgets of regions, the federal budget, the local budget) and socio-economic factors (the number of priority development areas in the region, the number of closed companies, the average salary in the region, the presence of a million-plus city in the region , the number of able-bodied population in the region, the year the company was opened and the region where the company operates). These factors may have the greatest influence when deciding on the location of a business; they will to a greater extent characterize the situation as a whole in the country or federal district. The tools of correlation-regression analysis were applied. The developed models make it possible to assess the significance of each of the factors at the country level and at the level of federal districts, as well as to identify which areas of regional policy needs to be worked on to create attractive conditions for attracting new companies. The study confirmed two hypotheses. First, it is confirmed that the tax factor is a significant factor when deciding on the territorial location of a business in Russia. Based on the results obtained, it can be concluded that the tax factor in Russia as a whole is not of high importance, but in some federal districts it is a significant factor. Second, it is confirmed that tax and socio-economic factors have a different impact in different regions when deciding on the territorial location of a business in Russia. The results show that the most significant factors are the factors of socio-economic development of the region and the presence of large cities.

Influence of ICT on the Competitiveness of the Trade Sector in Kazakhstan

The theoretical frameworks of economic growth are considered, and key indicators for assessing the economic development of regions are identified. A cluster analysis of Kazakhstan's regions was conducted, according to a set of economic growth factors. Based on the results of the analysis, a classification of the country's regions is proposed. The level of economic development of regions, according to the theory of sustainable economic growth, was estimated using a number of indicators, which include innovation activity, human capital, private capital, public capital, regional accessibility, regional concentration, and gross regional product (GRP) per capita. Thus, with the help of cluster analysis of factors of socio-economic development of Kazakhstan's regions, we were able to structure indicators of their economic growth by the degree of similarity, and identify 8 regional clusters. The results obtained can be used in the formation of economic, social, and financial policy of the state, taking into account regional features of the Republic's development.

Delegation of authority in the field of financial activity as a factor of socio-economic development

The article substantiates the application of the system of delegation of authority in the field of financial activity. Delegation of powers of public authorities to private entities is a common practice in a number of foreign countries, and has long been practiced in the field of business management. Delegation of authority can successfully develop those areas of the economy that are currently most affected by bureaucracy and related negative processes (formalism, corruption, complex and lengthy approval processes, obtaining permits, etc.). It seems that the delegation of certain powers in the budget sphere can significantly increase the efficiency, effectiveness and speed of achieving results by budget recipients, as well as provide a number of other advantages. Two main ways of implementing the delegation of powers in the field of financial activity, which can be carried out both jointly and independently of each other, are proposed: the conclusion of public contracts, as well as the establishment of the institute of parapublic organizations.

Analysis on Land-Use Change and Its Driving Mechanism in Xilingol, China, during 2000–2020 Using the Google Earth Engine

Large-scale, long time-series, and high-precision land-use mapping is the basis for assessing the evolution and sustainability of ecosystems in Xilingol, the Inner Mongolia Autonomous Region, China. Based on Google Earth Engine (GEE) and Landsat satellite remote-sensing images, the random forest (RF) classification algorithm was applied to create a yearly land-use/land-cover change (LULC) dataset in Xilingol during the past 20 years (2000–2020) and to examine the spatiotemporal characteristics, dynamic changes, and driving mechanisms of LULC using principal component analysis and multiple linear stepwise regression methods. The main findings are summarized as follows. (1) The RF classification algorithm supported by the GEE platform enables fast and accurate acquisition of the LULC dataset, and the overall accuracy is 0.88 ± 0.01. (2) The ecological condition across Xilingol has improved significantly in the last 20 years (2000–2020), and the area of vegetation (grassland and woodland) has increased. Specifically, the area of high-coverage grass and woodland increases (+13.26%, +1.19%), while the area of water and moderate- and low-coverage grass decreases (−15.96%, −7.23%, and −3.27%). Cropland increases first and then decreases (−34.85%) and is mainly distributed in the southeast. The area of deserted land decreases in the south and increases in the center and north, but the total area still decreases (−13.74%). The built-up land expands rapidly (+108.45%). (3) In addition, our results suggest that regional socioeconomic development factors are the primary causes of changes in built-up land, and climate-related factors are the primary causes of water changes, but the correlations between other land-use types and relevant factors are not significant (cropland and grassland). We conclude that the GEE+RF method is capable of automated, long time-series, and high-accuracy land-use mapping, and further changes in climatic, environmental, and socioeconomic development factors, i.e., climate warming and rotational grazing, might have significant implications on regional land surface morphology and landscape dynamics.

Disaster and Education: Impact of Flood on School Going Children at Keshabpur Upazilla in Bangladesh

Introduction: Presently, there has been an emergent concern that rising numbers of the world’s population are deserted due to the undesirable impacts of natural hazards, especially floods. Geographically, Bangladesh is a low-lying flood plain country with only a few hills in the south-east and the north-east part. Undoubtedly, education is a principal factor of socio-economic development, but regrettably, Bangladesh is suffering from the uncontainable effects of floods. After considering such issues, the foremost focus of this study was to recognize both the academic challenges faced by school-going children during a flood and examine the impact of the flood on the health of the children.
 Methods: Interview schedule, questionnaire survey, and document analyses had been carried out for this study. The study design was carried out by applying a mixed method. Students of Biddanondokathi Government Primary School and Mangalkot Secondary School from Mirzapur village of Mangalkot union in Keshabpurupazilla were randomly selected. The well-structured questionnaires were disseminated to 80 respondents of two academic institutions of Keshabpurupazilla of Jashore district. Additionally, descriptive statistics and chi-square tests were conducted to attain research objectives.
 Results: The outcome of this study revealed that flood unswervingly impacts the academic routine and health status of school-going children. Almost 93.8% of students faced academic challenges and 87.5% of children were the victims of waterborne diseases like diarrhea, skin diseases, and dysentery. Almost 82% of respondents did not go to school as the roads were impassable, 28.8% of individuals faced problems due to washed away bridges, and 28.8% faced challenges as their school was surrounded by water. About 66.2% of children dropped out of school and 17.5% of students did not attend their classes at all after the flood.
 Conclusions: Not only school-going children but also infrastructure is the crucial victims of flood disasters, compromising the children’s rights to access to quality education, information, good sanitation, as well as their participation rights. Flood disasters have key impacts on children’s education and progress and this study suggests that strategies need to be adapted to attend to the disaster risks encountered by school-going children of Bangladesh.

THE INFLUENCE OF CULTURAL HERITAGE ON THE DEVELOPMENT OF TOURISM IN UKRAINE

The article examines the current state and main problems of preservation and use of cultural heritage for tourism development in Ukraine. It was found that cultural heritage is becoming a new factor in economic and spiritual life in Ukraine, is a powerful resource for balanced development of society, performing in modern society many modern functions, including political, economic, social, and spiritual. At the same time, the study and generalization of modern theoretical and methodological works on the assessment of cultural heritage have made it possible to establish the lack of development of the concept of cultural heritage in general and its conceptual and terminological apparatus in particular. Currently, Ukraine is actively integrating into the world cultural space, so a full and comprehensive identification and study of cultural heritage for the purpose of balanced use and comprehensive preservation – a strategic, state-important humanistic and scientific-practical task. According to the research results, the principles of socio-geographical research of cultural heritage are formulated and the structural-graphic model of complex socio-geographical study of cultural heritage as a factor of socio-economic development of regions is developed; the current state and main problems of preservation and use of the cultural heritage of Ukraine are determined; describes the program-targeted approach to solving the problems of protection and use of cultural heritage, outlines practical recommendations for ways to improve the use of the historical and cultural potential of regions for tourism development in Ukraine. The obtained theoretical and applied results of the research create preconditions for the formation of an appropriate methodological basis for their application in the national economy, which enhances the practical significance of the work.

Factors of Socio-Economic Development of Partially Recognized and Unrecognized Republics of the Caucasus

Particular and general factors determine the dynamics and trends of endogenous development of three unrecognized and partially recognized republics of the Caucasus the Republic of South Ossetia (RSO), Abkhazia, and the Nagorno-Karabakh Republic. The article identifies critical factors and assesses prospects for endogenous socio-economic development of an unrecognized and partially recognized Republics of the Caucasus. It uses comparative and statistical methods, namely, one-factor analysis of variance (ANOVA) and the Kraskel-Wallis Criterion. A database developed for this study uses a set of indicators of the UN Sustainable Development Goals (SDGs) for 2007 to 2019 as a formalized universal and balanced system of global determinants. We found that differences in the achieved UN SDGs indicators can be accounted for by the variety of each state's initially socio-economic situation (the effect of a differentiated base). At the same time, the research shows that the dynamics of the development of the Caucasian republics are similar, which determines a commonality of trends of their future (while maintaining current conditions and circumstances). The study results expand our understanding of the development of unrecognized and partially recognized states. It shows that one has to consider this propensity of the Caucasian states to self-development when justifying measures for improving their socioeconomic situation and increasing the effectiveness of investment programs implemented jointly with the Russian Federation to promote the socio-economic development of the RSO and the Republic of Abkhazia.

Evaluating the Dynamic Changes of Urban Land and Its Fractional Covers in Africa from 2000–2020 Using Time Series of Remotely Sensed Images on the Big Data Platform

Dramatic urban land expansion and its internal sub-fraction change during 2000–2020 have taken place in Africa; however, the investigation of their spatial heterogeneity and dynamic change monitoring at the continental scale are rarely reported. Taking the whole of Africa as a study area, the synergic approach of normalized settlement density index and random forest was applied to assess urban land and its sub-land fractions (i.e., impervious surface area and vegetation space) in Africa, through time series of remotely sensed images on a cloud computing platform. The generated 30-m resolution urban land/sub-land products displayed good accuracy, with comprehensive accuracy of over 90%. During 2000–2020, the evaluated urban land throughout Africa increased from 1.93 × 104 km2 to 4.18 × 104 km2, with a total expansion rate of 116.49%, and the expanded urban area of the top six countries accounted for more than half of the total increments, meaning that the urban expansion was concentrated in several major countries. A turning green Africa was observed, with a continuously increasing ratio of vegetation space to built-up area and a faster increment of vegetation space than impervious surface area (i.e., 134.43% vs., 108.88%) within urban regions. A better living environment was also found in different urbanized regions, as the newly expanded urban area was characterized by lower impervious surface area fraction and higher vegetation fraction compared with the original urban area. Similarly, the humid/semi-humid regions also displayed a better living environment than arid/semi-arid regions. The relationship between socioeconomic development factors (i.e., gross domestic product and urban population) and impervious surface area was investigated and both passed the significance test (p < 0.05), with a higher fit value in the former than the latter. Overall, urban land and its fractional land cover change in Africa during 2000–2020 promoted the well-being of human settlements, indicating the positive effect on environments.

The impact of institutional factors on social entrepreneurship activities: an empirical evidence from Pakistan

Social entrepreneurship has soon recognized as important factor in socio-economic development. So far little research has been done in the context of developing young countries like Pakistan. This study investigate how institutional factors affect social entrepreneurial activities in Pakistan. Data from GEM were used for analysis. Due to the binary nature of the dependent variables, we used logistic regression models to test the hypothesis using the ReLogit estimation technique. This study generates key important results. The findings indicated that informal institutional factors influence more the likelihood of being social entrepreneur than formal institutional factors. The empirical findings provide useful information for government policies on promoting social entrepreneurship.

TOOLS OF INNOVATIVE DEVELOPMENT OF THE FINANCIAL MARKET OF UKRAINE

Topicality. The urgency of the prospects for the development of the financial market of Ukraine through the introduction of financial innovations today is growing due to the need to build a stable financial system in modern conditions, which is a crucial factor in socio-economic development of any state. This explains the special attention to the development of the financial market, which is a key conductor of financial resources in the real sector of the economy, ensures the movement of capital in the areas most responsible for the economic security of the country.Globalization of the financial space and competition in financial markets increase the importance of tools for the formation of competitive advantages of national financial markets, creating conditions for sustainable and efficient development of the national economy. As a result, the role of financial innovations is growing, because without them it becomes impossible to develop the financial market in today's competitive environment. That is why the study of this topic is extremely relevant and extremely necessary.Aim and tasks. The aim of the article is to develop theoretical, methodological provisions and practical proposals that should justify the need for financial innovation as a major component of further development of the financial market of Ukraine by identifying problems of the state financial market, the necessary prerequisites and ways to develop in modern market conditions.Research results. Ukraine's financial sector has long been a driving force for economic growth and financial development, as well as a source of financial and economic crises. In Ukraine, the development of the financial market is possible through the introduction of radically new financial management tools that would solve the main problems. However, it is necessary to meet some preconditions for their solution, namely to make institutional and infrastructural compliance in the processes and rules of mechanisms for development, implementation and control of financial innovations, to prepare the structure of economic sectors and households to use new financial services, tools and products and pay attention to the financial culture of the population. Fulfillment of these preconditions for the development of the financial market and the introduction of innovations is necessary, they form the foundation for global changes in the country's financial system and the disclosure of financial potential.Conclusion. For Ukraine, the formation and further development of the financial market is a prerequisite for the emergence of a powerful source of investment that will be directed to sectors of the economy through the accumulation of free cash. The functioning of the financial market is impossible without the work of the financial system and the course of innovative development of the financial sector, which ensures the normal existence and development of the state. To do this, it is necessary to develop a comprehensive approach to solving existing problems, which is why further research on the financial market of Ukraine and prospects for its development through the introduction of financial innovations should be devoted.