Instability In Ukraine Research Articles

Abandoned Code: War and Migration of Ukrainian IT Specialists

Introduction. Modern conditions, including the full scale war and economic instability in Ukraine, present Ukrainian IT specialists with a series of complex challenges, among which migration-related issues are prominent. In this context, the problem of migration among Ukrainian IT specialists becomes crucial and requires attention from the government, IT companies, and other stakeholders. This problem requires a comprehensive analysis and the development of effective strategies and solutions to attract and retain IT specialists in Ukraine.Problem Statement. This research examines various aspects of migration among Ukrainian IT specialists, identifies the key challenges they face in times of armed conflict, and proposes recommendations and strategies to address the issues related to intellectual migration.Purpose. The main objective is to identify the primary problems encountered by Ukrainian IT specialists during migration and to develop specific recommendations and strategies to support and attract this category of professionals to contribute to the development of the IT industry in Ukraine.Materials and Methods. The study employs general scientific and specialized research methods, such as in vestigating cause-and-effect relationships, using the scientific abstraction method, comparative assessments, analysis, and synthesis.Results. Some key challenges affecting the migration of Ukrainian IT specialists have been identified. These include restrictions on leaving the country, migration of IT specialists and their families, conscription into the army, currency regulations, challenges related to working with foreign clients, relocation challenges, and the occupation of Ukrainian territory.Conclusions. To support Ukrainian IT specialists and harness their potential for the country’s development, it is essential to focus on creating favorable working conditions, fostering interaction with IT specialists, developing the innovation sector, facilitating knowledge transfer, and providing promising opportunities for their growth.

Investment contract as a basis for obtaining housing: theory and practice problems

The investment contract, as a mechanism that allows you to get housing, is gaining more and more popularity in modern housing construction. This tool becomes key in ensuring access to housing for broad segments of the population and contributes to the development of housing construction. However, along with its advantages, the investment contract causes several problems in both theoretical and practical aspects. In the current economic instability in Ukraine and the difficult financial situation of a large part of the population, the search for affordable and effective ways to realize the dream of owning a home has intensified. In this context, new buildings are especially popular as objects that provide an opportunity to purchase housing during the construction stage. Investment contracts certainly remain among the most profitable in this process. Purchasing at the construction stage allows you to reduce costs as much as possible, and later sell at a higher price when the object is ready for operation, reducing the tax burden. However, having chosen this path, future owners face the risk of an unforeseen situation, since there are almost no guarantees for investors to invest in residential construction without complying with the law or the terms of the contracts. In this context, studying the problems of the theory and practice of the investment contract as a basis for obtaining housing is an urgent task. On the one hand, it is necessary to carefully analyze the theoretical foundations of the investment contract and its place in the system of legal regulation. On the other hand, it is important to consider the practical experience of using this tool, identify the problems faced by participants in housing construction, and propose ways to solve them. In this work, we will reveal the essence of the investment contract as a mechanism for obtaining housing, analyze the theoretical aspects of this issue, consider the practical experience of using investment contracts in housing construction, and identify the main problems that arise in this area. Such an analysis will make it possible to draw conclusions about the effectiveness of using an investment contract as a tool for obtaining housing and to determine directions for further research in this area.

Legal problems of execution of the state budget of Ukraine

The paper reveals the role and problematics of the peculiarities of solving the problems of the implementation of the state budget of Ukraine as an important factor in ensuring the stability of the state’s financial system. It is determined that an extremely important area of activity of state bodies is the implementation of the state budget as the main national fund of centralized funds, with the help of which the state concentrates a certain part of the gross domestic product and centrally distributes it for the development of the national economy, for social protection of the population, maintenance of state authorities and management , as well as for the defense of the country. Implementation of the budget is defined as ensuring the timely and complete receipt of revenues to the budget provided for by law or a decision of the local authority from each source, as well as the timely provision of budget assignments to ensure the implementation of the measures provided for in the budget. In the conditions of a rather difficult situation for our state, the budget is subject to significant influence of internal and external factors. The problem of the deficit of the state budget of Ukraine is especially problematic for our country. During the period of economic crisis and socio-economic instability in Ukraine, the issue of the budget deficit became very acute. In recent years, the state budget of Ukraine has faced such a big problem as the deficit, which arises as a result of the excess of state budget expenditures over revenues. The problems of implementing the state budget of Ukraine at the present time are caused by the realization of a number of budgetary risks. In this case, the implementation of risks affects both the budget of a separate budget period, but also leads to structural changes in the composition of budget revenues and expenditures, and even to the need for an additional volume of state borrowing. Further formalization of the procedures for identifying, evaluating and taking measures to reduce budgetary risks of the state budget is extremely necessary.

Dampak Eskalasi Konflik Rusia-Ukraina terhadap Keamanan Nasional Ukraina

Abstract: The annexation of Crimea led to a prolonged conflict in Donbas, escalated the conflict, and resulting in Russia's invasion of Ukraine. This study aims to identify and analyze the impact of the escalation of the Russia-Ukraine conflict to the Ukraine national security in 2014-2022. This researh was conducted qualitatively, focusing in analizyng data that ranged from news articles to official statements from both involved countries. Through utilizing the concept of national security, researchers found that the escalation of the conflict between Russia and Ukraine has caused enormous losses to Ukraine which include threats to Ukraine's territorial sovereignty, problems in the economic field and the occurrence of humanitarian crises. Thus, causing instability in Ukraine's national security. Keywords: Russia, Ukraine, natinal security, conflict, war

Реформування оплати праці працівників бюджетної сфери в Україні

Socio-economic instability in Ukraine is accompanied by contradictions in payments to employees, which negatively affects work efficiency and motivation. Moreover, the issue of remuneration in the public sector is the most urgent for the country, since the principles of its financing mainly at the expense of the budget, and the imperfection of its formation mechanisms are the reasons for the lack of correlation between the qualifications of employees and the level of remuneration, the increase in poverty among employees, and other negative consequences. The above prioritizes the substantiation of the theoretical and methodological tasks of reforming the system of public employees remuneration. The purpose of the article is to identify deficiencies in the remuneration of public sector employees in Ukraine and to improve the system and mechanisms of employee remuneration in the public sector. The research was carried out using the following methods: analysis and synthesis, comparison, generalization, analogies. An abstract-logical approach was used to formulate the conclusions. It is stated that at present three systems of wages financing exist in the country for employees whose wages are paid with funds from the state budget (on the basis of YeTS [unified pay rate system], on the basis of the provisions of special laws and decrees as well as the combined system existing in the healthcare as a result of its reformation) which may create additional risks as relates to limitations of wage levels and therefore increased shadow employment in the private sector. Negative factors in relation to wages at the government-financed organizations are determined, namely no correlation between wages of most employees in this sphere and their performance and quality of services which they provide, continuous decrease in wages, disproportions in wage levels of employees with the same qualifications which all lead to risks of qualified personnel outflow into other sectors of economy and further limitation of provided services’ quality in the longer run. Risk minimization tools are proposed for the specific risks in the government-financed organizations wages system which are based on optimization of existing network of state budget funds recipients (streamlining and improvement first and foremost of the network of educational and medical institutions financed by the state) and transition toward a semi-autonomous model (which will allow government-financed organizations and institutions to independently attract additional funding and spend it on their own needs which would stimulate further development) as well as awarding to the government-financed organizations and institutions the right to place currently unused funds at commercial banks which would generate an additional revenue. Also the conceptual basis for creating a results-based wages system financed from the state budget is developed which includes tools and principles of its formation and formation of its elements, determines its functions and establishes a favourable motivational environment which will ensure adequate remuneration of government financed organizations’ employees for their work as well as actively stimulate them toward achieving better results of the work and fulfillment of the organizational goals.

Improvement of information support to promote the economic advantages of energy saving under the conditions of military conflicts

Energy consumption is the most important strategy for improving economic efficiency and decarbonization. State energy saving measures aimed at promoting changes in sustainable habits and procedures can significantly save energy consumption. Information support for promoting the economic benefits of energy saving under the conditions of military conflicts needs more attention. The leading methodological tools were the methods of observation, comparison, as well as historical method. The research reported here showed that the aggression on the part of the Russian Federation required states to urgently improve the system of implementation of national information policies in order to increase the level of energy saving and energy efficiency. The EU's plans to reduce energy consumption "Play your role" and "Save energy" are aimed at informing the public about the need to contribute to energy saving processes. It is proved that currently in the EU, 80 % of member states ensure the effective implementation of new state campaigns for information support to promote the economic benefits of energy saving. Awareness-raising campaigns such as EPAH, I Have Influence, Green Ambassadors, EU4Energy's energy awareness campaign in collaboration with EU NEIGHBORS east are noteworthy. This activity and the set of energy labeling measures ENERGY STAR and EPREL can become the basis for the implementation of public education programs at educational institutions during the period of military instability in Ukraine. A promising vector of further scientific research will be the analysis of the practice of implementing information support to popularize the economic benefits of energy saving on the territory of Ukraine during the aggravation of the military conflict on the territory of the state

On the way to the struggle of the Ukrainian people against Russian aggression

The article states that the war is the highest degree of aggravation of relations between Ukraine and the Russian Federation in the struggle of the Ukrainian people against the Russian occupier, which will take place until the Ukrainian people win over Putin's totalitarian regime, using all possible military, economic, humanitarian , medical, legal and other means to the full restoration of justice and payment of contributions to the state of Ukraine and the Ukrainian people.
 The confrontation of the Armed Forces and other power structures of Ukraine against the Armed Forces of the Russian Federation took place in the territories of Donetsk and Luhansk regions after the occupation of Crimea until 2022. In general, Russia annexed the Ukrainian peninsula of Crimea and carried out a separatist regime in Donetsk and Luhansk oblasts, supplying troops and weapons to their territory.
 Accordingly, political instability in Ukraine, the choice of the European vector of development, its desire to join the European Union and the North Atlantic Treaty Organization (NATO), unwillingness to have any relations with the aggressor country led to the war between Ukraine and Russia.
 For Ukraine's victory in this nation, it is necessary to: - continue military resistance against Russia; - the Ukrainian army to counterattack and expel the occupiers from our land; - state support for the citizens of Ukraine and the creation of favorable conditions for prolonging their lives in armed conflict and reducing the emigration of the younger generation - support for Western allies and imposing tough sanctions to destroy the Putin regime and Russia's economy; - use all possible methods to prevent nuclear war; - after the victory, citizens of Ukraine and victims of hostilities have the right to a contribution from Russia.

Прешовский самоуправляемый край и его международное сотрудничество

The regional self-government was established in Slovakia in 2001. Since then, it has been legally possible to carry out its own international cooperation. The Prešov self-governing region is one of the eight self-governing regions in Slovakia. It carries out various paradiplomatic activities, from establishing relations with foreign partners at various levels, to the highest level of cooperation – partner regions based on a cooperation agreement. The development of international cooperation of the self-governing region was influenced not only by the political situation, but also by national legislation and national government, as well as the geopolitical situation and integration processes, namely the accession of Slovakia and some neighboring countries to the European Union. The European Union is also linked to the European Structural and Investment Funds and other multifaceted support, such as cross-border cooperation, which encourages self-governing regions to cooperate mutually beneficial on a project basis. In terms of geography, the Prešov self-governing region borders with Poland and Ukraine. Therefore, the neighboring regions of these countries should be logical partners for cooperation, in terms of common history, culture, traditions, and the like. Nevertheless, political instability in Ukraine, but especially the Schengen border and differences in the legal and economic system initially hampered the development of functional cooperation with Ukrainian regions. Before and after Slovakia’s accession to the European Union in 2004, the Prešov self-governing region preferred cooperation with regions from European Union countries. Based on the intensity of cooperation in the form of joint projects and financial benefits, we can state that the most intensive cooperation has taken place and is taking place with the Podkarpackie Voivodeship and the Lesser Poland (Małopolskie) Voivodeship in Poland. In addition to pragmatic alliances with the regions of the old member states of the European Union, there are also historical and cultural alliances with the regions of the Czech Republic, Croatia, Serbia and, due to the national and cultural specificity of the northeastern part of the Prešov self-governing region, with Vologda Oblast of the Russian Federation. The article focuses on selected aspects of international cooperation of the Prešov self-governing region and provides a legislative, organizational and management overview of international cooperation of the self-governing region and an overview of partnership cooperation of the Prešov self-governing region.

FINANCIAL ADVICE AND ITS IMPACT ON THE GROWTH OF THE PUBLIC WELFARE OF THE POPULATION

Introduction. Ensuring the well-being of the population involves increasing their financial literacy, financial security, strengthening the stability of the country’s financial system and the competitiveness of the domestic economy, the formation of long-term investment demand, formation and development of the financial market in Ukraine. During the period of economic instability in Ukraine, the problem of protecting the rights of consumers of financial services, including low public awareness, lack of a code of conduct for financial institutions and insufficient capacity of supervisory authorities to monitor the situation in the current situation. In these conditions, there are urgent issues to ensure the functioning of the institute of financial advisers, who on a paid or free basis will provide services to citizens to improve their financial education, choose the optimal package of services in the financial market, develop skills to manage their own financial resources. The purpose of the article is to analyze the impact of financial advice on increasing the welfare of the population by determining the level of financial literacy of citizens and the use of tools for government incentives and promote the development of financial advice in Ukraine. Results. An analysis of the level of financial literacy of the population in Ukraine and concluded that the use of financial advice for individuals is particularly relevant for Ukraine given that a significant proportion of the population has not only superficial knowledge of financial market principles and opportunities to use financial products and services, but also distrusts financial institutions. As a result, one of the main problems of low public confidence is the lack of sufficient information about financial institutions. It is, first of all, about informing the population about the full cost of financial products, the size of the commission for the provision of services, the rules of its collection. Conclusions. Proposals for the formation of the National Strategy for Improving the Level of Financial Literacy of Citizens with Active Use of Financial Advisory Services, which can be carried out in two directions: public financial consulting for the population by ensuring increasing the level of financial literacy of citizens free of charge in various forms; private independent financial consulting on a paid basis focused on the provision of services for the formation of individual financial plans to achieve financial goals in the future.

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Abstract. The coronavirus outbreak (Covid-2019) has significantly impacted all aspects of social life. One of these aspects turned out to be the behavior of households as bank depositors. The phenomenon manifested itself in the fact that instead of the expected decrease in the volume of households deposits, which was characteristic of the crises of previous years, there was an increase. This feature turned out to be typical for both developed countries and developing countries. An analysis of scientific works has shown that the motives for such behavior can be caused by various factors, which depend, among other things, on the level of economic development of countries. The purpose of this article was to identify the characteristics of the behavior of households as depositors and changes in the structure of their deposits during the Covid-19 pandemic in Ukraine. A statistical analysis of household deposits in Ukrainian banks for 2019-2020 was carried out to achieve this goal. As a result, it was revealed that the Covid-19 pandemic had generated several uncertainties that the households in Ukraine have not previously encountered. At the same time, the entry into the pandemic occurred against the backdrop of a stable banking system, an efficiently functioning deposit guarantee system, and a relatively stable national currency. The household's response to the Covid-19 pandemic in Ukraine should be considered in two stages. The first stage ? March-April 2020 (the first lockdown was introduced on 12 March 2020 in Ukraine), when two scenarios were implemented: flight-to-liquidity (transformation deposits in cash) and flight-to-safety (transformation of hryvnia savings into savings in foreign currency). And the next stage ? the last part of 2020 ? with other two scenarios: flight-to-digitalization and flight-to-savings. Deposits became the vital component of household savings in Ukraine at this stage. It was shown that there was an increase in deposits in both national and foreign currencies, but the rate of their growth changed, which, among other things, was due to a drop in interest rates. A reduction in the gap between interest rates on long-term and short-term deposits, as well as uncertainty due to the impact of Covid-19, led to a significant increase in demand deposits, which in the future may negatively affect the activities of banks, especially in the context of political instability in Ukraine, which both internal and primarily external factors may cause. Key words: savings, bank run, deposit guarantee system, deposit rates, lockdown, banking crisis, deposits dollarization, demand deposits, term deposits.

Стратегічні напрями розвитку банківської діяльності України

Abstract. Introduction. The article is devoted to the analysis of banking activity of Ukraine and tendencies of development, search of perspective directions of development of branch. It has been proved that the successful development and reliability of the banking system in a market economy largely depends on the results of statistical analysis in banks, which allows to identify their weaknesses and strengths, to identify specific ways to solve problems. Purpose. The purpose of the article is economic and statistical analysis of the current state of the banking system of Ukraine, development of theoretical and methodological principles and practical recommendations for statistical analysis of banks, identifying key factors and trends and finding promising areas for further development of banking. Results. The essence, theoretical preconditions and methodological bases of the statistical analysis of activity of banks are considered; modern approaches to statistical analysis of banking activity are analyzed; conceptual bases of the complex analysis of banks are developed; a system of indicators of banks' activity was formed on the basis of open and accessible statistical information; long-term forecasts of the development of the banking system of Ukraine were made. The analysis of the main indicators of the activity of banking institutions of Ukraine confirmed the presence of crisis phenomena in banking activity. It is proved that the efficiency of the banking system of Ukraine depends on a number of such factors: the level of development of the financial market; the current level of confidence of economic entities in the central bank; macroeconomic situation both inside the country and abroad; political factors; level of monopolization and shadowing of the economy. The low probability coefficient of the forecast model indicates a significant influence of political factors on the state of banking in Ukraine. The main problems of the industry are: huge outflows of funds from deposit bank accounts and reduction of bank resources, including by reducing revenue from all types of services; accumulation of significant volumes of problem loans in the structure of the loan portfolio due to the growth of debt on loans to individuals, businesses and non-bank financial institutions; increase in costs of banks and increase in unprofitable activities of banking institutions in general; exacerbation of the problem of insufficient level of capitalization of banks, exacerbation of the situation regarding compliance with the statutory and regulatory capital of banks; declining confidence in the banking system; political and economic instability in Ukraine, etc. Conclusions. Improving the state of the industry is possible through: improving the investment climate in the country as a whole; determination of priorities of economic development; improving the welfare of the population and strengthening corporate finance; increasing the level of monetization of the economy; increasing the resource potential of the banking system; ensuring the long-term and availability of credit resources; increasing the transparency of commercial banks, etc.

International donors as enablers of institutional change in turbulent times?

PurposeThe purpose is to explore the role of international financial institutions (IFIs) during public financial management reform in a transitional economy. In particular, the study focuses on interaction between external enablers and local actors.Design/methodology/approachThe paper is based on a qualitative study of public financial management reform in Ukraine during 1991–2014. This period is divided into stages corresponding with two projects financed by the World Bank: “Treasury System” and “Public Finance Modernization.”FindingsFirst, IFIs supported a Ukrainian economy weakened by financial crisis and insisted on a comprehensive reform of public financial management to facilitate recovery. By strategically addressing local challenges, eliminating local uncertainties and maintaining stable interactions, IFIs gained support from the central government. Local actors continued the reform by negotiating with other actors and getting quorum support. In the second stage, IFIs could not implement planned changes. Even though the change was well-perceived at the beginning, developed tensions between local actors were overlooked by IFIs, which resulted in loss of commitment of the State Treasury representatives. The continuous political instability in Ukraine constrained interaction between IFIs and the Ministry of Finance and reduced political will for conducting reforms.Originality/valueThe study contributes to the debate on the adequacy of externally driven public management reforms in developing countries by exploring actions and interactions of global and local actors during the change in public sector practices.

Фіскальні ефекти впровадження нових соціальних стандартів в Україні

The article is aimed at studying and assessing the positive changes that occurred in the budgeting process due to changes in social standards in Ukraine during 2010-2020. The hypothesis testing is carried out on whether there is a link between changes in social standards such as the subsistence rate and the minimum wage, and the amount of tax revenues to the consolidated budget and the amount of budget expenditures. Modern approaches to assessing the impact of social standards are analyzed, and conclusion is made that fiscal effects are hardly studied in literature. Based on a comparative analysis of the dynamics of the established and actual subsistence rate and the main targets stated in the Consolidated Budget of Ukraine for 2010-2020, quarterly regression models are built, in particular, with pseudo-observed variables. A significant gap has been observed between the established and actual subsistence rates, which increases over time. At the same time, the minimum wage is approaching the actual subsistence rate for employable population, which is a positive fact. The aggregate income of the population main exogenous variable in tax revenues models. A model of household income dependence on average wages, average pension and subsistence rate is built. It is shown that the increase in the minimum wage in 2017 did not have the desired direct fiscal effect on personal income tax, unified social tax revenues and public expenditure on social insurance. The indirect impact on value added tax and excise tax revenues, which could be expected due to the increase in the household purchasing power, is also insignificant. The reason for this is the halving of the ratio between the minimum and average wages due to its concealment, the high level of the shadow economy and artificial understatement. It is shown that the consolidated budget expenditures on social security and wages are more sensitive to changes in various social standards, thus creating risks of macroeconomic instability in Ukraine.

Potential of the sector of financial services in view of the socio-economic growth of Ukrainian regions

Nowadays, in the global economy, the sector of financial services is an important mechanism to secure competitiveness. In the first place, it performs the functions of monetary provisions; in the second place, it mobilizes and transforms spare savings into investment resources for extended economic reproduction. Yet, the socio-economic and geopolitical instability in Ukraine has caused a decline in the development of its financial sector, which is confirmed by the rating downgrade of Ukraine in a range of international economic rankings. The purpose of the paper is to provide a complex research of the capacity of the sector of financial services in securing the socio-economic growth of Ukrainian regions. In order to achieve the goal, general and specific research methods were used, including structural and functional, regression-based, factor and system analysis methods of comparison and synthesis. MS Excel was used to visualize and interpret data. The efficiency of the use of the capacity of the sector of financial services in securing the socio-economic growth of regions is evaluated based on the calculation of the related index as an arithmetic average of standardized output parameters that characterize the development of the sector of financial services and socio-economic development of regions. The research has contributed to 1) establishing a high variability of the index of the efficiency of the capacity of the sector of financial services caused by the unequal spatial distribution of the companies in the analyzed sector; 2) verifying a high sensitivity of the sector of financial services to macroeconomic imbalances, fluctuations on global financial and monetary markets, and domestic political crises confirmed by a slight impact of the sector capacity on the pace of gross regional product (GRP) change in Ukrainian regions and the gross valued added (GVA) change in the services sector of the regions; 3) stating a direct correlation between the volume of services provided by financial sector companies and financial solvency of consumers (i.e. residents and businesses), and a direct correlation between the intensity of change in the capacity of the sector of financial services in order to secure the socio-economic growth of regions and employment change in the regions. The fact that a high level of shadow activity is an essential threat to the efficient use of the capacity of the sector of financial services in order to secure the socio-economic growth of Ukrainian regions is emphasized. Unequal spatial distribution of companies within the sector of financial services, imbalance in spatial development of adjoining economy sectors, and credit activity of businesses and population have caused a high variability of the index of the efficiency of the use of the capacity of the sector of financial services in terms of the socio-economic growth in Ukrainian regions. The financial sector of Ukraine is characterized by high sensitivity to fluctuations on domestic and foreign financial and exchange markets that are especially relevant nowadays in view of the coronavirus pandemic. Therefore, forming a comprehensive roadmap activating the mechanisms to improve economic activities in the financial and adjoining markets should be the primary task for public and regional authorities.

The internationalisation of higher education: losses and benefits

International declarations emphasise the role of higher education in building the knowledge society and underline its importance for the economic, social and cultural development of individual countries. The article shows how the internationalisation of higher education transforms universities, cities and countries that welcome international students. At the same time, it is stressed that the internationalisation of higher education and the employment of well-educated foreign students in the destination country is one of the forms of brain drain and competition for gifted young people. The example of Poland, where Ukrainian students dominate among international students, is used to demonstrate the benefits enjoyed by the destination country and losses suffered by the country of origin. The situation is presented against the backdrop of the current political instability in Ukraine, which may additionally encourage young people to study and settle abroad.

The factors of financial instability in Ukraine

Introduction. The Ukrainian economy functions in conditions of increased financial instability. Its phenomena are global and inherent for the economies of most countries in the world. The greatest losses from financial instability are inherent for Ukraine; which makes it relevant to study the factors that cause financial instability and cause large losses of Ukraine’s GDP.The purpose of the article is to generalize theoretical approaches to determining the factors of financial instability; assess its negative effects on economic dynamics and identify key factors of financial instability in Ukraine.Methods. The methodological basis of the research is the general scientific and economic and statistical methods as analysis; synthesis; induction and deduction; tabular and graphical methods in order to study the factors of financial instability and the amount of economic losses; abstract and logical; and economic and mathematical methods – to determine the impact of financial instability and GDP dynamics; positive and normative methods – to explore the world’s experience in overcoming financial instability.Results. The factors that give rise to instability of the Ukrainian economy and the strong destabilizing influence of exogenous factors on the economic dynamics have been considered. Chronic hryvnia devaluation; cyclical inflation spikes and financial and economic crises are manifestations of increased financial instability. It has been found that significant declines in production occur under the influence of factors caused by the exacerbations in the economies of countries; which are important trading and financial partners of Ukraine and the negative situation in world commodity prices. The dynamics of foreign trade operations contributes to or slows down GDP growth due to the high openness of the Ukrainian economy.It has been justified that the key factor of financial instability in Ukraine is structural and production imperfection. It gives rise to financial dependence of the economy on fluctuations in world commodity prices which is a significant share of GDP and is a major export commodity. It is necessary to change the production specialization towards increasing the output and export of high value-added products in order to ensure sustainable economic growth and financial stability.Discussion. The prospect of further research is to analyze and evaluate the structural defects of the Ukrainian economy; which give rise to its high dependence on the global economic environment and to make recommendations aimed at achieving financial stability and economic growth.

SIMULATION OF PRICING IN THE REAL ESTATE MARKET DURING THE CRISIS

The article summarizes the arguments and counterarguments within the scientific discussion on pricing in the real estate market in Ukraine during the crisis. The main purpose of the study is to simulate real estate pricing during the crisis. The systematization of literary sources and approaches to solving the problem of simulation of pricing in the real estate market during the crisis has shown that the real estate market in modern conditions fluctuates and depends on many factors. This market is quite dynamic and constantly evolving. At the same time, the issue of pricing in the real estate market significantly depends on a system of factors, in particular, market dynamics, location of real estate, exchange rate, development of environmental infrastructure, construction stage, reliability of the developer, etc. The influence of these factors on the process of simulation of pricing in the real estate market in Ukraine is determined. The urgency of this scientific problem is due to the fact that macroeconomic instability in Ukraine in the face of inflation and devaluation has a negative impact on the overall economic situation and, consequently, leads to a dynamic negative change in real estate value, so it is important to determine the features of simulation of the real estate pricing in a crisis. The study of simulation of the real estate pricing during the crisis in the article is carried out in the following logical sequence: determination of the current state of the real estate market in Ukraine, substantiation of factors and their impact on real estate pricing simulation in a crisis. As part of the study of the simulation of the real estate pricing in a crisis, we have used the following general scientific methods: analysis, synthesis, induction, deduction, generalization, systematization, mathematical analysis, statistical analysis, and have chosen 2010–2018 as the study period. The evaluation of models when evaluating the real estate market in Ukraine is the object of the study. Pricing in the real estate market in the crisis is the subject of the study. The practical value of the work is due to the fact that its results can be used to improve the quality and efficiency of valuation activities during property valuation (on the example of the residential real estate market) in Ukraine. In the future, it will be relevant to study the features of the use of economic and mathematical models to optimize the simulation of pricing in the real estate market of Ukraine.

АНТИКРИЗОВЕ УПРАВЛІННЯ НА ПІДПРИЄМСТВАХ МАЛОГО ТА СЕРЕДНЬОГО БІЗНЕСУ

UDC 339.3; JEL Classification: М19 Purpose: generalization of methodological recommendations in terms of of domestic small and medium business enterprises. According to the set aim the following tasks were defined: to explore the essence of the anti-crisis management concept and approaches to its definition; summarize scientific and practical recommendations on adaptation of principles in small and medium business enterprises. Methodology of research: to achieve the purpose set in this work there were used such general scientific and specific research methods and techniques: methods of comparing, systematization and summarizing, abstract and logical analysis. Findings: there were founded the causes and peculiarities of the enterprises crisis state at each stage of their life cycle; based on the analysis of scientific sources the essence of the anti-crisis management concept is established and the author's definition of this term is proposed. The basic approaches to are assigned and the main tasks of at small and medium business enterprises are defined. Originality: there are marked the management principles, which, as opposed to the existing ones, take into account the specifics of small and medium business enterprises. That will help to strengthen the market position of enterprises in the conditions of economic instability in Ukraine. Practical value: practical significance of article scientific results consists in the fact, that the introduction of proposals, developed according to the research, at small and medium enterprises will help to increase the efficiency of business activity of enterprises at all life cycle stages in conditions of economic instability situation in Ukraine.

Бізнес-планування як інструмент фінансової стійкості підприємства в умовах нестабільності української економіки

During the period of economic and financial instability in Ukraine, the first priority is to plan the activities of business entities in the changing conditions of the country's economic development. In this situation, a special approach to organizing the process of making optimal management decisions and finding tools that can ensure their implementation is necessary. Low profitability and solvency, inefficient monetary policy and tax system, lack of an appropriate legislative framework and effective mechanisms for regulating cash flows are the result of financial instability. To ensure financial stability, it is necessary to build an effective enterprise management scheme that operates in the current conditions. The business plan of the enterprise should reflect all the factors that affect its functioning, and first of all, business planning should provide solutions to issues related to improving the financial condition of the enterprise. In this regard, the article pays great attention to improving the effectiveness of financial management as part of business planning. The article is of a scientific and methodological character.

ЛІКВІДНІСТЬ БАНКІВСЬКОЇ СИСТЕМИ ТА ПРАКТИЧНІ АСПЕКТИ ЇЇ ЗАБЕЗПЕЧЕННЯ В СУЧАСНИХ УМОВАХ УКРАЇНИ

The article examines the essence of liquidity. On the basis of a comprehensive analysis of approaches to the definition of concepts, the definition of the concept of bank and is proposed. The following interpretation of the concept is proposed: bank liquidity is a complex financial indicator of ease of realization, transformation of value form of assets into cash, a kind of guarantee of possibility of fast sale, balanced ratio of assets and liabilities of the balance sheet of the bank, degree of correlation of terms of placed assets and attracted financial assets It is concluded that sufficient liquidity plays no less important role than capital adequacy. The main functions of liquidity (transformation, stabilization, competitive status and risk mitigation function) have been systematized and the list of organizational, managerial and strategic functions has been supplemented. Factor analysis, taking into account the inherent banking system risk as a whole and liquidity risk in particular, made it possible to systematize the set of factors that determine the provision of banking liquidity at different levels more accurately (global (world), state (country), regional and micro level), as well as to give reasons to distinguish it as an independent level – regional level. Methods of liquidity management were grouped. Among the methods of liquidity management are the methods of asset management; liability management methods and balanced liquidity management (assets and liabilities), as it is the most appropriate and most commonly used by banking institutions. Analysis of economic standards of liquidity of the banking system of Ukraine for 2013-2019 was carried out. It is concluded that in the conditions of the existing financial instability in Ukraine there is a need for a fundamentally new approach of banks to liquidity management, which is based on the generalization of as many factors as possible. In order to overcome the crisis in the banking sector, it is necessary to apply innovative approaches to banking liquidity management in practice, which will increase its stability against external and internal threats.