EU investment policy: financial and legal aspects
DOI:
https://doi.org/10.61345/1339-7915.2024.5.12Keywords:
іnvestment policy, investment activity, financial and legal provision, financial instruments, normative provision, financial provision, the European Union European integrationAbstract
In the article the key role of investment policy in ensuring sustainable economic development of the European Union (EU) has been examined. The study emphasizes the EU’s comprehensive approach, which integrates legal norms and financial mechanisms to create a favourable investment climate, enhance competitiveness and promote social, economic and environmental progress.
The author has researched the scholarly works on EU investment policy, focusing on the contributions of such scholars as Mykola Sidak, Edita Gainyshova, Helen Kavvadia, Green de Burka, Paul Craig and others. Their research provides valuable information on investment protection, the role of the European Investment Bank (EIB) and other financial institutions.
The aim of the work is to analyze the financial and legal provision of the EU investment policy, to identify its main principles and mechanisms, and to assess their effectiveness. The key principles include a single market environment, protection of investors’ rights, effective regulation of financial instruments and market transparency. The study emphasizes the importance of legal instruments, including the founding treaties, EU regulations and directives, which underpin free movement of capital, competition rules.
Financial instruments such as guarantees, grants, loans, and investments provided by entities like the EIB and the European Investment Fund (EIF) are examined for their role in reducing risks and facilitating access to capital. These mechanisms support innovation, infrastructure development, and regional cohesion, aligning with EU strategic objectives.
The author emphasizes that understanding and adopting EU investment principles is crucial for Ukraine’s European integration. Harmonisation of Ukrainian legislation with EU standards can attract investment, promote economic growth and improve the welfare of society.
The study concludes that EU investment policy, based on a sound legal framework and innovative financial instruments, is vital to promote sustainable development and address global challenges such as digitalisation and climate change. Increased coordination and new sources of funding are essential for further progress.
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