FINANCIAL SECURITY MANAGEMENT IN GLOBALIZATION AND ECONOMIC FINANCIAL CRISIS: REGULATION OR LIBERALIZATION?
Introduction. The article deals with the issue of protecting the state from its own financial security from the negative impact of global financial crises, which are external threats to the development of the national economy. The role of financial component of economic security of the state in ensuring its national interests is established. The management of financial security from the point of view of technological and strategic approaches is considered.
Finance is the core of the modern economy, and now financial competition is the center of international economic competition. This makes financial security the basis of national economic security of the country. Periodic financial crises that have occurred in the world since the 1980s point to this. A state whose government is not fully aware of the importance of taking preventive measures against financial risks or ineffective measures to protect against threats may face a financial crisis. The financial crisis, caused by the numerous problems and challenges accumulated in the process of implementing social transformations and market openness in the developing country, often turns into an economic crisis, a social or even political crisis of a national scale. Ineffective financial management at the state level can weaken the national economy or even lead it to a complete collapse. Consequently, it is necessary to pay close attention to the implementation of the process of ensuring financial security at the macro level, both in modern economic conditions and in the strategic perspective.
Purpose. The purpose of the paper is to provide proposals for the protection of national financial security from the negative impact of global financial crises. In order to achieve this goal, it is necessary to fulfill such tasks as: to establish the role of the financial component of the economic security of the state in securing its national interests and to provide proposals on ensuring financial security from the technological and strategic approach.
Methods. Method of theoretical analysis, monographic method, method of generalization, abstract-logical method are used.
Results. Ensuring the financial security of the state should become national goal and get strategic imperatives for the formation of vectors to achieve its high level in the long run. However, in our opinion, this can not be done in a situation of complete liberalization of relations in the financial market. Therefore, we propose to assess the current state of financial security of the country and to develop innovative approaches to state regulation of financial security of Ukraine.
Originality. The question of protecting the state of its own financial security from the negative impact of global financial crises remains relevant, so the government of our country should work hard to minimize the consequences of the financial crisis, try to use financial and regulatory instruments to ensure financial stability and financial security at the micro and macro levels, while deepening financial reforms, the level of efficiency of the functioning of the financial market and promoting innovation in the financial sector and to strength the protection of national financial interests as well as to ensure financial security.
Conclusion. As the consequences of global financial crises show, the irrational international economic order in a globalized world and the prevailing unstable economic situation in the world worsen the financial security of developing countries.
Heyetsya, V. M. (2006) Modelyuvannya ekonomichnoyi bezpeky: derzhava, rehion, pidpryyemstvo [Modeling of economic security: state, region, enterprise], INZHEK, 240 (in Ukr).
Zhalilo, YA. A. (2003) Ekonomichna stratehiya derzhavy: teoriya, metodolohiya, praktyka [Economic strategy of the state: theory, methodology, practice], NISD, 368 (in Ukr).
Baranovs’kyy, O. I. (2004) Finansova bezpeka v Ukrayini (metodolohiya otsinky ta mekhanizmy zabezpechennya) [Financial security in Ukraine (assessment methodology and mechanisms of provision)], Kyyiv. nats. tohr.ekon. unt, 759 (in Ukr).
Ermoshenko, M. M. (2001) Fіnansova bezpeka derzhavi: nacіonal’nі іnteresi, real’nі zagrozi, strategіja zabezpechennja [Financial security of the state: national interests, real threats , strategy software], KNTEU, 309 (in Ukr).
Horyacheva, K. S. (2003) Finansova bezpeka pidpryyemstva. Sutnisttamistse v systemi ekonomichnoyi bezpeky [Financial security of the enterprise. Essence and place in the system of economic security]. Ekonomist, 8, 65-67 (in Ukr).
Yepіfanov, A. O. Plastun, O. L. and Dombrov’kij, V. S. (2009) Fіnansova bezpeka pіdpriemstv і bankіvs’kih ustanov [Financial security companies and banks], DVNZ «UABS NBU», 295 (in Ukr).
Aref’yeva, O. V. and Kuzenko, T. B. (2009) Ekonomіchnі osnovi formuvannja fіnansovoi skladovoї ekonomіchnoї bezpeki [Economic foundations of the financial component of economic security], Aktual’nі problemi ekonomіki, 98 (in Ukr).
Kyrychenko,O. A. Laptyev,S. M. Pryhunov, P. YA. and Zakharov, O. I. (2010) Upravlіnnja fіnansovo-ekonomіchnoju bezpekoju [Managing financial and economic security], Dorado-Druk, 412 (in Ukr).
Nіkіforov, P. O. and Kucherіvs’ka, S. (2006) Sutnіst’ і znachennja fіnansovoї bezpeki strahovoї kompanіi [The essence and importance financial security insurance company], Fіnansi Ukraini, 86–94 (in Ukr).
Shlyakhtun, P. P. (2005) Politolohiya (teoriya ta istoriya politychnoyi nauky) [Political Science (Theory and History of Political Science)], Lybid’, 576 (in Ukr).
Mykhaylovs’ka, I. M.and Larionova, K. L. (2006) Hroshi ta kredyt [Money and credit], Novyy Svit-2000, 432 (in Ukr).
Website “Without Tabu” (2018), “The rating of economic freedom-2018: Ukraine took the last place”, available at: https://beztabu.net/rejting-ekonomicheskoj-svobody-2018-ukraina-zanyala-poslednee-mesto_n37697 (Accessed 15 October 2018).
Website 2018 Index of Economic Freedom. Ukrain (2018), available at: https://www.heritage.org/index/country/ukraine (Accessed 18 October 2018).
Website Politeka (2018), “Global global crisis on the threshold: what threatens Ukraine”, available at: https://politeka.net/ua/news/economics/676465-globalnyj-mirovoj-krizis-na-poroge-chem-jeto-grozit-ukraine/ (Accessed 21 October 2018).
The official website of the Ministry of Finance of Ukraine (2017), “The World Bank Ukraine’s Concept on 2017-2021”, available at: https://www.minfin.gov.ua/news/view/skhvaleno-kontseptsiiu-partnerstva-svitovoho-banku-z-ukrainoiuna-roky?category=mizhnarodne-spivrobitnictvo (Accessed 21 October 2018).
- Поки немає зовнішніх посилань.