Improvement of the emissional component of the banking system as the factor of activation of the investment process

Mykola Kovalenko, Dmytro Ziuz, Oleksandr Nakisko, Serhii Rudenko, Natalia Ryzhikova

Abstract


The object of research is the banking system aimed at supporting the investment processes of the national economy of Ukraine. It is promising to conduct a study on developing proposals for the speedy reform of the banking system. This system should provide the national economy with the necessary volume of domestic investments aimed at stimulating the development of high-tech industries and a significant increase in output with high added value, the development of import substituting industries, increasing employment,

In the course of the research, the interdisciplinary approach to the study of external factors of influence and institutions for the implementation of the issuing policy by the banking system is widely used based on the organization of a mixed type of economic system aimed at:

  • stimulating the development of the real sector of the economy;
  • improving the quality of targeted use of credit;
  • optimization of intergovernmental fiscal relations;
  • strengthening the financial solvency of enterprises;
  • transition of the banking system to innovative forms of functioning;
  • reconciliation of external and internal calls;
  • activation of investment processes at enterprises of the national economy of Ukraine.

The proposed measures to improve the issuing policy on the part of the National Bank (refinancing) and commercial banks (lending) aimed at targeted financing of investments in the real sector of the national economy should lead to a drastic change in the institutional role of the banking system of Ukraine. The money emitted by the banking system, under the strict guidance of the state, should be directed to the implementation of investment projects of the national economy, where they materialize and are backed by newly created products. Thanks to this, there is wide support for own modern production aimed at producing products with high added value and should provide the population with decent jobs and wages. All this will enable us to build a fair society, increase the sovereignty of the state, mobilize the available resource potential of the economy as much as possible, facilitate the early transition to a new technical and economic structure based on innovation-investment public reproduction.


Keywords


banking system; money issue; domestic credit; investment process; national economy; social and economic development; public administration

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References


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GOST Style Citations


Emisiia hroshei // National Bank of Ukraine. URL: https://bank.gov.ua/control/uk/publish/article?art_id=123306

Protsentni stavky za aktyvnymy i pasyvnymy operatsiiamy NBU // National Bank of Ukraine. 2018. URL: https://bank.gov.ua/control/uk/allinfo

Stiglitz J. Joseph Stiglitz Says Standard Economics Is Wrong. Inequality and Unearned Income Kills the Economy // Evonomics. 2016. URL: http://evonomics.com/joseph-stiglitz-inequality-unearned-income/

Osnovy ekonomichnoi teorii: handbook / ed. by Kozak Yu. H., Shapoval S. S. Kyiv: Tsentr uchbovoi literatury, 2012. 264 p.

Keynes J. M. The General Theory of Employment, Interest, and Money. 2011. URL: https://cas2.umkc.edu/economics/people/facultypages/kregel/courses/econ645/winter2011/generaltheory.pdf

Kovalenko M. M. Nove traktuvannia sutnosti ta funktsionalnoho skladu hroshei // Teoriia ta praktyka derzhavnoho upravlinnia. 2015. No. 1 (48). P. 70–78.

Turkay M. Heterogeneity across emerging market central bank reaction functions // Central Bank Review. 2017. Vol. 17, No. 3. P. 111–116. doi:10.1016/j.cbrev.2017.06.002 

Pelin O. G. Does the central bank directly respond to output and inflation uncertainties in Turkey? // Central Bank Review. 2016. Vol. 16, No. 2. P. 53‒57. doi:10.1016/j.cbrev.2016.05.001 

Brinkmeyer H. A new view: Implications of financial innovation for bank lending // Drivers of Bank Lending. 2014. P. 35–43. doi:10.1007/978-3-658-07175-2_4 

Durham B. Foreign Portfolio Investment, Foreign Bank Lending, and Economic Growth // FRB International Finance Discussion Paper No. 757. 2003. 35 p. doi:10.2139/ssrn.382063 

Kozmenko O., Kuzmenko O. Modeling the stability dynamics of Ukrainian banking system // Banks and Bank Systems. 2013. Vol. 8, No. 2. P. 55–62. doi:10.21511/bbs.8(2).2013.01 

Kolupaieva I. V., Gavkalova N. L. Deregulation Of The Ukrainian Economy: Problems and Peculiarities of Further Implementation // Horizons international scientific journal. Series A – Social Sciences and Humanities. 2016. Vol. 20. P. 389–397.

Ukraine. IMF Country Report No. 15/69 // International Monetary Fund. 2015. URL: https://www.imf.org/external/pubs/ft/scr/2015/cr1569.pdf

Kovalenko M. M. «Surrency board» chy «absoliutni hroshi» – rabstvo chy volia: proceedings // Publichne upravlinnia XX st.: tradytsii ta innovatsii. Kharkiv: KharRI NADU «Mahistr», 2017. P. 378–382.

Savchuk N., Grydzhuk D. Modern tendencies of the Ukrainian banking system development // Banks and Bank Systems. 2017. Vol. 12, No. 4. P. 105–113. doi:10.21511/bbs.12(4).2017.10 





DOI: https://doi.org/10.15587/2312-8372.2018.129864

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Copyright (c) 2018 Mykola Kovalenko, Dmytro Ziuz, Oleksandr Nakisko, Serhii Rudenko, Natalia Ryzhikova

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ISSN (print) 2226-3780, ISSN (on-line) 2312-8372