Analysis of the Current State of Institutional and Structural Changes: Impact and Assessment of Their Role on the Financial and Economic Development of the Country

Житар, Максим Олегович (2024) Analysis of the Current State of Institutional and Structural Changes: Impact and Assessment of Their Role on the Financial and Economic Development of the Country Економіка і організація управління (1(53)). pp. 5-18. ISSN 2307-2318

[thumbnail of M_Zhytar_EOU_1_53_24.pdf] Text
M_Zhytar_EOU_1_53_24.pdf - Published Version

Download (721kB)

Abstract

The article reveals the relevance and necessity of deep reforms in Ukraine to achieve economic revival and integration with European economic systems. The author analyzes significant institutional and structural reforms aimed at improving the economic environment, attracting investment, developing the private sector, and fighting corruption. These reforms cover important areas, including the banking system, public administration, the judiciary, antitrust regulation, and land relations, creating favorable conditions for financial and economic development and the economy's resilience to external shocks. The article emphasizes that the listed changes have both positive and negative aspects. On the one hand, the reforms contributed to increasing the transparency of management, improving the investment climate, and reducing corruption. On the other hand, the implementation process of some reforms proved to be difficult due to the lack of effective implementation and control mechanisms, as well as external challenges such as military conflict and global economic crises. The author also considers investment risk as an important indicator of institutional and structural changes in the country, pointing to systematic risk caused by country-wide institutional, political, and macro-financial factors, and individual risk determined by specific features of the company's financial condition. The increase in systematic risk due to hostilities has worsened financing conditions for all businesses, but the distribution of individual risk depends on many factors. The article highlights the macro-financial imbalances caused by the war and their impact on Ukraine's economy, including the destruction of productive assets, the cessation of production, and a decrease in demand, which caused a fall in GDP, a decrease in state budget revenues, and an increase in public debt. The results of the study can be used in the process of assessing the role of institutional and structural changes on the financial and economic development of the country. The author emphasizes that the quick reaction of the National Bank of Ukraine and financial assistance from international partners made it possible to avoid the collapse of the country's financial system.

Item Type: Article
Uncontrolled Keywords: macroeconomic indicators; financial and economic development; investment risk; macroeconomic imbalances; company finances; structural changes
Subjects: Статті у періодичних виданнях > Фахові (входять до переліку фахових, затверджений МОН)
Divisions: Факультет економіки та управління > Кафедра фінансів
Depositing User: Професор Максим Олегович Житар
Date Deposited: 25 Jun 2024 09:29
Last Modified: 25 Jun 2024 09:29
URI: https://elibrary.kubg.edu.ua/id/eprint/49310

Actions (login required)

View Item View Item