Financial Security Of State Research Articles

Constitutional and Legal Regulations on Financial Security and the Security of the Financial Interest of the State in Regard to the Challenges of the 21st Century

Abstract This study demonstrates the interdependence of constitutional regulations and two types of state financial security: general financial security and the security of the financial interest of the state. An indication of these two types is possible due to existing legal regulations resulting primarily from constitutional regulations, but also from ordinary laws that allow for the analysis of the activities of public authorities in the field of collecting and spending public funds, in the budgetary, tax and banking contexts. The considerations discussed here are of particular importance due to the unstable political, economic, social and, above all, financial situation. In such difficult circumstances, it seems obvious that constitutional regulations should be the basis for ensuring the financial security of the state, while indicating to what extent the applicable provisions meet the challenges of the modern, unstable world. The considerations have been based primarily on the regulations resulting from the Constitution of the Republic of Poland, with an indication of which are the most important from the point of view of the adopted topic, the regulation of separate acts. In order to discuss the selected issues, it has also been necessary to refer to selected bibliographic items and court decisions. The study is selective and not comprehensive, constituting a stimulus for further research in this area.

СТРАТЕГІЧНІ НАПРЯМКИ ДЕТІНІЗАЦІЇ ЕКОНОМІКИ УКРАЇНИ В КОНТЕКСТІ ЗМІЦНЕННЯ ФІНАНСОВОЇ БЕЗПЕКИ ДЕРЖАВИ

The purpose of the article is to study the theoretical aspects and applied principles of determining the strategic directions of detinization of the economy of Ukraine in the context of strengthening the financial security of the state. The strengthening of the influence of destabilizing factors in the development of the economy and society in Ukraine, deepened by factors of a military nature as a result of the full-scale invasion of the Russian Federation on the territory of Ukraine, intensified the shadowing of the country's economy and the activation of destructive socio-economic phenomena. As a result of these trends, the financial sphere of the country suffered the most significant negative impact, which was manifested in a decrease in the level of its financial security against the background of the growth of the shadow sector of the economy. The aforementioned creates prerequisites for finding effective methods and ways of countering crisis phenomena and forming an effective mechanism for the detinization of Ukraine's economy in the context of strengthening its financial security. The article examines the main scientific approaches to defining the essence of the concepts "detinization of the economy" and "financial security of the state", identifies their place in the system of national economic security, and establishes mutual coherence and mutual influence. Analytical calculations were carried out to identify the state and trends of changes in the integral indicator of the level of shadow economy and the level of financial security of the state for the period from 2010 to 2022. It was found that in Ukraine, the strengthening of financial security is observed during the period of the decrease in the level of the shadow economy. The main and most important problems of detinization of the economy of Ukraine and ensuring the financial security of the state are highlighted. The urgent need to form a set of measures to detinize the economy of Ukraine with an emphasis on the strategic perspective of their implementation in the context of strengthening the state's financial security and post-war economic recovery is substantiated.

Загрози фінансовій безпеці України

Abstract. Introduction. In the conditions of deepening financial instability of our country, increasing threats to all levels of security, it is important to constantly analyze the values of the main indicators of the country's financial security and identify potential threats, since in order to implement effective mechanisms for stabilizing the financial system, it is necessary to dynamically assess the most dangerous risks for its functioning. Purpose. The purpose of the study is to identify and analyze potential threats to the country's financial security before and after a full-scale invasion of the Russian Federation through a system of indicators. Results. Based on the analysis of changes in the country's financial security indicators for the period before and after the beginning of the full-scale invasion of the Russian Federation, dangerous zones and threats to the state's financial security were identified: the debt burden on the state budget, the level of inflation, lending by banks to the real sector of the economy, the dependence of the banking system on foreign capital and the level doubtful debt in the credit portfolio of banks. The situation is related to a full-scale war and forces Ukraine to build up debt to finance hostilities and solve important social issues in conditions of uncertainty, which in the long run, without the possibility of debt cancellation, will have a disincentive effect on the economy. The safe zone includes the share of domestic state loan bonds and international reserves. The forecast of indicators of financial security that were in the critical zone for 2023, using analytical alignment of the dynamic series, demonstrated the deterioration of the values of these indicators. Conclusions. 2022 is expected to be a critical year for most indicators of the country's financial security. It is proposed to implement transformational measures that would take into account the changes taking place in the market of financial services due to the emergence of problems, first of all, resource provision. It is recommended to regulate the regulatory and legal field regarding financial security during martial law and detailing the threats that arose during the war.

THE IMPACT OF THE INSURANCE MARKET ON THE FINANCIAL SECURITY OF UKRAINE

The need to ensure the state's financial security in the conditions of the growing number of global challenges, risks, dangers and threats as a prerequisite for restoring and preserving the stability of the national economic system was substantiated. The purpose of the article is to assess the impact of the insurance market and key indicators of its development on the level of Ukrainian financial security in order to determine the priority areas of its provision. The dependence of the state financial security level on a set of factors that have a close connection and mutual influence was studied. War is a massive structural shock to the Ukrainian economy since the total losses of the Ukrainian economy because of war, according to the general estimates of the Ministry of Economy and KSE, considering both direct losses and indirect losses (decrease in GDP, cessation of investment, the outflow of labour, additional spending on defence and social support, etc.) range from $564 billion to $600 billion. It was established that the growing number of negative security factors determine the impact of the insurance market on the financial, economic and social stability of society because an effectively functioning insurance market enables minimizing threats to individuals, society and the state as a whole. The mutual influence of the insurance market on the state's financial security is studied, which is manifested in the possibility of maintaining financial stability and stimulating economic development at the macro level through the accumulation of a significant amount of investment resources. The study of methodological and practical aspects of the impact of the insurance market on the state's financial security in the context of global hybrid threats was updated. The identification and assessment of the impact of threats associated with the state and trends in the insurance market of Ukraine were carried out using an indicator approach based on the Guidelines for assessing the Ukrainian economic security level. The limitation of the range of indicators used in it to assess the impact of insurance development on the level of financial security is proved. It is proposed to expand the list of indicators of the development of the insurance market, taking into account international experience. On the basis of correlation and regression analysis, the most significant factors of financial security in the field of insurance were identified. The results obtained can be used to substantiate the priorities for the insurance market development in the formation of the concept of Ukrainian financial security.

Impact factors and structural analysis of the state's financial security

The concept of state financial security is a key one, due to the fact that it reflects the state of the country, its public finances, as well as the state of the financial sector operating within it. An adequate level of state financial security can create optimal conditions for the development of the financial system, financial stability, as well as for the country's economic development and investment attractiveness. One of the main factors that determine a high level of state financial security is the stability of the financial sector. Given that the assets of the banking sector account for a significant, if not an overwhelming share of the total assets of the financial sector, this sector plays a key role in the economy as a whole. Therefore, a stable and secure banking sector is an important element affecting the level of financial security of a country. The paper attempts to define the concept of state financial security and to present its relevance. In addition, the paper also aimed to identify the main factors that most influence the level of state financial security. Eight indicators, generally accepted as those describing the level of state financial security, were applied in the paper and used as the basis for an econometric model expressing the relationship between them and the stable development of the banking sector. The study showed that the stability of the Polish banking sector determined the financial security of the state.

THE STRATEGIC VECTOR OF UKRAINE'S FINANCIAL INTELLIGENCE CONSTRUCTION

The study established the strategic vectors of the development of financial intelligence in Ukraine. Further, the study outlined several stages, in particular, established the impact of financial intelligence on the state's financial security, carried out a comparative analysis of financial intelligence of the different countries by determining their institutional features and, based on the analysis results, developed strategic directions for Ukraine's financial intelligence development. The article substantiates the expediency of scientific research aimed at determining the specifics of the financial intelligence agencies' activities and their role in ensuring the state's financial security. The paper emphasized the need to intensify financial monitoring measures to counter new challenges and threats caused by the COVID-19 pandemic, the global economic recession and the war of the Russian Federation against Ukraine, which entered an active phase in early 2022. Moreover, the research highlighted the necessity to use advanced foreign experience in the organization of the financial intelligence service, its implementation in the domestic practice of combating money laundering and the use of this experience in the work of a financial intelligence agency in modern conditions characterized by a high level of corruption risks, the shadow economy and its offshoring. The influence of financial intelligence on the state's financial security has been established by determining the main threats arising in the relevant areas of activity and analyzing the mechanism of the financial intelligence's influence on the state's financial security. Researchers carried out a comparative analysis of financial intelligence models of different world countries. The article designated institutional characteristics of different financial intelligence models by determining their type, and essential characteristics. The study proposed an algorithm for forming a strategic vector for Ukraine's financial intelligence development. Based on the research results authors presented strategic directions for Ukraine's financial intelligence development and appointed their goals and directions of implementation.

Informational basis of Ukrainian financial security management in conditions of sustainable development

The purpose of the article is to decide the possibilities of Ukrainian financial security management in the conditions of military and political instability through adaptation of the indicators for the current methodology of the state financial security calculating in order to achieve the goals of sustainable development. The authors use general scientific and special methods, in particular dialectical, abstract logical, system analysis, economic and statistical. The authors in terms of the system approach and the allocation of material and information basis consider financial security. The authors formalize the process of informational support for the management of state financial security. Analysis of statistical data suggests that the determination of the Ukrainian financial security takes place because of political and military instability. Every component of financial safety includes factor of war influence, which as a result correlates the integral index of financial safety. The authors investigate factors that include expenditures for army forces support, aggressor state exchange rate expenditures, volume of monetary mass of the aggressor state in national economics, participation of the aggressor state capital in the banking capital structure, volume of financial resources loss of the aggressor-state.

Development of doctrinal model for state financial security management and forecasting its level

A doctrinal model of state financial security management in the context of globalization changes has been developed. The model is formed at five levels (doctrinal, conceptual, strategic, programmatic, planned), contains a logical continuum of mission, priorities in the financial sector and the level of technological innovation, influencing factors and a system of actions aimed at achieving goals. This model accumulates a set of solutions aimed at adapting to transformational processes in the economy associated with new needs of states, globalization processes in the world financial space, technology development, new challenges and threats. As a result of the study, forecasting is carried out and the effectiveness of the results of modifying approaches to managing the financial security of the state using a polynomial algorithm for extrapolating the parameters of stochastic systems is proved. A polynomial correlation-regression model is presented, the input data of which were specific indicators of the effectiveness of innovative development of the state, perception of corruption and debt dependence. In fact, this is a set of those indicators at which the strategic directions of strengthening the financial security of the state are directed in the context of globalization changes. The generalized values of the state of financial security of the state, determined on the basis of the developed polynomial correlation-regression model, are obtained, as well as the absolute and relative amounts of error indicate the accuracy of the forecasts obtained. So, the mean level of error is 0.005 %, which means that the totality of these indicators can characterize the state of financial security of the state. Accordingly, this model is useful in the process of predicting the results of modifying approaches to the formation of the financial security of the state

FINANCIAL AND LEGAL ASPECTS OF ECONOMIC SECURITY OF THE STATE

Abstract. The problem of elaborating the comprehensive state policy on regulatory and legal provision of the financial security at all levels of economy is significantly important for Ukraine. It is crucial to ensure development and implementation of the legislative framework that would determine the types of internal and external threats to the stability of financial activity and the means of counteracting these threats; the full power and responsibility of state authorities concerning the financial and legal regulation aimed at warranting order in financial sphere; the mechanism of financial control organization as the means of preventing financial offences. The aim of the research is to outline the essence of new threats to the economic and financial security of the state under modern economic conditions and search for the required mechanisms and means of regulatory and legal provisioning of the financial security of Ukraine. In the course of research, the general scientific and theoretical methods have been applied. These include systemic analysis (for defining the object and the subject of research); abstract and logical method (for preparing the scientifically justified generalizations and conclusions about the essence, the mechanism of provisioning financial security of the state, and the factors that designate it); graphic method (for representing visually the mechanism of ensuring financial security of the state). The article introduces improvements to the list of modern internal and external threats to the financial and economic security of the state with respect to the immanent nature of the World Band and the International Monetary Fund. It has been emphasized that the new list of indicators and sources of initial information about the constituent components of financial security should be developed and approved because the current list was outlined in the end of 2013 and does not take into account modern realia. It is necessary to determine the functions of the Ministry of Economy of Ukraine in the realm of monitoring and regulating financial stability of the state, particularly in the real economy sector. It has been specified that scientific development of the range of problems related to the methodology and legal regulation of the state security provisioning, as well as the means and methods of preventing and mitigating the threats, is tightly connected with the development of macroprudential supervision and regulation under the aegis of the National Bank of Ukraine. The introduction of new indicators by the Bank (such as the level of non-performing loans, the financial stress index, and others) is the positive step. Nonetheless, the large quantity of private indicators interferes the process of elaborating the set of measures for financial and legal regulation of the financial security level. The new methodological approach to development of the integrated indicator of financial stability at the macro level has been suggested. The research results enable the possibility of improving the mechanism of state financial security and justifying the set of measures for its reinforcement. The review and improvement of the current legal framework in the area of financial and regulatory economic security, and development of the new integrated indicator of financial security level are necessary. Keywords: financial security; internal and external threats; legal mechanism of security provision, macroprudential regulation. JEL Classіfіcatіon: О12, Е59 Formulas: 0; fig.: 2; tabl.: 1; bibl.: 16.

ЎЗБЕКИСТОНДА ДАВЛАТ МОЛИЯВИЙ ХАВФСИЗЛИГИНИ ТАЪМИНЛАШ ИНДИКАТОРЛАРИ

This article is devoted to the description of the socio-economic essence of financial security, indicators of financial security, different opinions on the concept of monetary security, issues of ensuring the financial security of the Republic of Uzbekistan.The aim of the study is to investigate indicators of state financial security and identify threats to financial security at the macro level in Uzbekistan, determine the intensity, content, sources, and causes of the impact of threatening factors, create a unified approach to limiting threats and develop recommendations for its practical application.The scientific novelty of the research:1. It was proposed to abolish the practice of issuing loans at preferential interest rates, giving commercial banks the right to independently set interest rates by introducing mechanisms to compensate for a certain part of interest costs, to improve the diversification of international gold and foreign exchange reserves of Uzbekistan;2. Developed the parameters of the zones that determine the state of each security indicator by studying the indicator of the level of financial security by comparing the current (real) situation with a certain class (nominal) in terms of security;3. The system of indicators and the approach based on threshold values in the study of financial security problems have been analyzed. Developed and grouped program measures to limit and neutralize security threats

MONETARY AND FINANCIAL POLICY OF UKRAINE: THEORETICAL-EMPIRICAL CONNECTIONS AND PRIORITIES OF STATE REGULATION

The essential characteristics of the monetary policy of the state as a system of measures and instruments of state regulation of the monetary sphere, the direction of state influence on monetary and credit relations are specified. Its subjects and objects are identified, principles, goals and modes are defined. The relationship between the formation and implementation of monetary policy and the strengthening of financial security of the state are shown. Using the method of the main components, an integrated assessment of the state of monetary and security of Ukraine in 2000, 2005, 2010—2018 was conducted. The weighting coefficients of Ukraine’s monetary security indicators are determined and its integral values are calculated. The highest level of influence of such indicators was identified as the ratio of the monetary aggregate M3 to GDP (23,3 %), the ratio of GDP to the volume of the monetary aggregate M2 (22,5%), the amount of cash to GDP (22,6 %). The conclusion was made that the level of monetary and credit security of Ukraine in 20132018 was decreasing. The lowest was the value of monetary and security of the state in 2016 — 0,49 (on a scale from zero to one), in 2018 the index rose to 0,51, but its value is low. The existence of a statistically significant link between monetary and financial security of Ukraine is empirically assessed and established. For the period 2000-2018, the determination coefficient was 0,86. Accordingly, the tendency to lower the level of monetary security leads to a virtually parity deterioration of the state financial security. The strategic priorities of the state policy of the development of monetary and credit sphere in the context of ensuring the financial security of the state are grounded. Strategic priorities of state regulation are defined: ensuring the price stability and stability of the national monetary unit, strengthening the stability of the banking system, its creditworthiness, forming a high-quality exchange-exchange rate environment, the development of the stock market, and improving the institutional principles of state regulation of the monetary sector. Identified measures, the implementation of which allows to achieve the identified strategic priorities and improve the financial security parameters of Ukraine.

Scale of Tax Frauds as A Threat to the State's Financial Security

The objective of the paper is an attempt to assess the impact of the scale of tax frauds on thefinancial security of the state. In the paper one tried to assess the relationship between the level ofinformal economy and the fiscal income of the state, but also, based on the survey research, to indicatewhether unethical attitudes of taxpayers meet with social consent and constitute an incentive to bypassthe tax law. Methodology: Achieving the goal required the use of descriptive and statistical methods,in particular the linear regression method. The direct method - questionnaire was also applied. Results:In the paper the essence of the informal economy in the years 1994-2018, as well as the ethicaldeterminants of tax evasion in the light of the author's own research from 2007-2020 were discussed.Based on statistical data, an attempt was made to assess the impact of the informal economy,understood as evasion of fiscal obligations, on tax revenues in Poland, based on the linear regressionmethod. The scope of the phenomenon of tax pathology as the basic element of the shadow economyand its impact on the level of tax income seems to be confirmed by the relationship shown by themethod of estimating the expected value - variable, which showed that the shadow economy,calculated according to F. Schneider's estimates, was a factor in 94% determining the level of taxrevenues in the years 2000-2017.

Economic security and prevention of money laundering in commercial banks of Latvia

After the analysis, the authors of the study suggest their interpretation of “economic security”. They also view Latvian banks as one of the most important elements of state financial and economic security. The article focuses on the fight against money laundering. The article shows the use of Latvian normative acts on the prevention of criminal schemes for money laundering. The authors propose mechanisms for effective blocking of suspicious accounts in commercial banks in Latvia and suggest methods for their implementation in practice. As a result of these methods, criminal communities will not be able to bypass the blocking of accounts in commercial banks established by the law enforcement agencies. The arrested funds will be able to replenish the budget of the Republic of Latvia.

State financial security: Comprehensive analysis of its impact factors

State financial security: Comprehensive analysis of its impact factors

Концептуальні засади формування системи фінансової безпеки держави

The article is devoted to the research of the conceptual principles of the state financial security system formation. The ambiguity in the approaches of scholars to the interpretation of financial security and the interpretation of its components, the lack of a clear definition of categorical-concept apparatus in this subject area in the current Concept of ensuring national security in the financial sphere in this subject area determines the relevance of the research topic and determines its target orientation. The purpose of the article is to evaluate theoretical approaches to the financial security of the state and to formulate its conceptual model on the basis of the systematic approach methodology. The basic theoretical approaches to the financial security of the state are defined as: 1) the subjective approach, which examines it from the standpoint of realization of the unidirectional interests of the main subjects of financial relations that contribute to the growth of the financial potential of the state; 2) the objective approach, which defines financial security in the context of financial flows (resources, sources) that permeate the entire financial system of the country; 3) the institutional approach from the point of view of financial security studies at the level of institutions and bodies that are capable of ensuring the stability of the economic development of the state; 3) the systematic approach focused on the formation of levels and subsystems of the financial system of the state, which provides for their uniform development with the accepted level of financial security. The methodological basis for the study of financial security is the author's system approach, which is due to the importance of its study as a complex interconnection of individual subsystems, levels, and elements of the system, which will allow achieving a positive system effect. The author forms the conceptual framework for the formation of the financial security system, which consists of three interconnected subsystems: 1) the functional-purpose one that contains principles, purpose (strategic and operational), objectives and functions of the financial security system; 2) the subject-object one (levels, entities and financial security entities, differentiated by dedicated levels); 3) the security subsystem that contains personnel, regulatory, methodological, organisational and information support. The prospects for further research should be linked to a detailed study of the elements of the proposed structure and to determine the systemic effect of their interaction.

Daniel J. Clark. Disruption in Detroit: Autoworkers and the Elusive Postwar Boom.

For decades historians have looked upon the 1950s as the golden age of capitalism, an era when jobs were plentiful and working-class Americans were finally ushered into a state of financial security. Daniel J. Clark challenges these assumptions and more in Disruption in Detroit: Autoworkers and the Elusive Postwar Boom. Clark places workers at the center of his study with the stated goal of “learning more about how ordinary autoworkers experienced the postwar years” (1). The theme that runs throughout the course of Clark’s work is that employment in the auto industry was sporadic, unpredictable, and chaotic throughout the postwar era. Many experienced periods of considerable unemployment and, as such, did not partake in the postwar “boom” many scholars assume they did. This revelation will change the way historians view workers throughout the mid-twentieth century and also help explain an issue that has confused labor historians for years: the...

Механізм митного контролю в системі забезпечення фінансової безпеки держави

The development of foreign economic activity of business entities, the intensification of international cooperation, the strengthening of integration processes in the world actualize the issue of transformation of the role of nation-states and the need to ensure an adequate level of their financial security. A potential threat to financial security is the increase in the volume of smuggled goods, the lowering of the customs value of goods and non-compliance with customs legislation. One of the important ways to prevent these violations is to create an effective customs control mechanism. The purpose of the article is to form the customs control mechanism in the system of ensuring the state financial security, the introduction of which will help to eliminate and block external and internal threats to the national economy. Approaches to the identification of subjects and objects of customs control were revealed. Methodical methods and techniques of customs control, differentiated by its types, were described. In the context of ensuring the state financial security it was specified that the customs control mechanism is the process of influence of the subject of customs control on the object by the methods used within the framework of the implemented customs policy to comply with the determined level of the state financial security in the presence of the established regulatory and legal, personnel, information and organizational support. Based on this vision, the authors formed the structure of such mechanism in the system of state financial security, containing the subject-object component of the mechanism, which interact through the use of control methods; the unit of evaluation of control results from the point of view of compliance with the established financial security indicators; management decision on the results of customs control, aimed at realizing influence on violators of customs legislation; formation of directions for improvement of certain elements of functioning of the customs control mechanism.

Strategic priorities for public policy to counter tax evasion using offshore jurisdictions

The authors substantiate the relevance of the formation and implementation of state policy in strengthening the financial security of Ukraine by combating tax evasion using offshore zones. The novelty of the research results is the coordination of strategic tasks and strategic priorities of the state policy within the strategic sequences. The practical significance of the results makes them applicable for central authorities to develop a strategy and tactics to strengthen the state's financial security and combat tax evasion using offshore zones. The study uses a scientific method of analysis and synthesis to justify the strategic tasks and strategic priorities of the state policy of strengthening the financial security of Ukraine by combating tax evasion using offshore zones. The purpose of the state policy is defined as strengthening the financial security of Ukraine by combating tax evasion using offshore jurisdictions. The achievement of this goal is connected with the strengthening of a budgetary, monetary-credit, debt security. The authors suggest the following strategic objectives of the state policy: a critical reduction in the unpaid tax payments through the use of offshore jurisdictions and the increase of tax revenues to the budget; preservation of capital in the country and its productive use, in particular as an investment resource; systemic economic de-shadowing; eliminating the manifestations of deviant behaviour by economic agents; formation of the “equal” competitive environment for stimulating the development of SMEs, legal management, innovation, and technological entrepreneurship. The following strategic priorities of state economic regulation should be achieved: improvement of the organizational-managerial system of combating offshore market; establishment of an effective system for monitoring and control of abuses using offshore jurisdictions; building up a full-fledged institutional infrastructure of de-offshoring and de-shadowing of the economy.

Assessment of macroeconomic and ecological security of Vietnam in the current period

The article highlights the state of financial security in Vietnam in the period of 2000 - 2018. Based on secondary data collected from agencies such as the International Monetary Fund, the World Bank, and the State Bank of Vietnam Nam and based on four groups of indicators measuring financial security, namely the wealth level of the people, namely the wealth level of the people, economic scale and level of development, Prospects of economic growth, Economic stability. The research results show that before 2007, the level of integration of the economy was still low, so the financial security indicators were supported by the national debt situation, the ratio of high bad debt, High budget deficit, ineffective financial and monetary monitoring activities have not contributed much to security, and these indicators are quite low when compared to other countries in the region.

Formation of Conceptual Bases for State Financial Security Supply: Strategic and Tactical Actions

Formation of Conceptual Bases for State Financial Security Supply: Strategic and Tactical Actions