THEORETICAL AND METHODOLOGICAL BASIS OF INSTITUTIONAL AND STRUCTURAL CHANGES IN THE FINANCIAL SECTOR OF UKRAINE'S ECONOMY
Abstract
The article is devoted to the development of the theoretical and methodological foundations of institutional and structural changes in the financial sector of the Ukrainian economy, which includes the analysis of existing scientific approaches, the identification of unresolved issues and the justification of new methodological approaches that take into account the specifics of the national economy, global trends and innovative processes. It has been proven that the financial sector plays an important role in the development of any economy, providing capital flows, financial support for enterprises and consumers, as well as contributing to the formation and implementation of the state's financial policy. In the conditions of modern global challenges and rapid changes in the technological and economic environment of Ukraine, it is necessary to consider the financial sector as an object of systematic institutional and structural transformations. An institutional approach to the study of the financial sector is based on an understanding of the role of institutions in shaping the rules of the game and market conditions. It is substantiated that the Ukrainian financial sector has undergone significant changes during the last ten years, caused by internal and external factors. Structural changes in the financial sector include processes of consolidation, restructuring and innovation. The growth of the number of banking institutions, their consolidation and revision of strategies in connection with changes in the regulatory environment is a vivid example of such changes. The emergence of financial technologies (FinTech) has significantly affected the structure of the financial sector, accelerating digital transformation and changing the interaction between market participants. Ukraine, as a multidimensional state, constantly faces various challenges, among which the full-scale invasion of the Russian Federation against our state occupies a special place. The introduction of martial law not only changes the political and social landscape of the country, but also significantly affects its economy and financial system. It was concluded that the financial and economic policy of Ukraine in the conditions of martial law acquires special importance and requires effective analysis, strategic planning and operational response. In this context, the study of the influence of the state of war on the financial and economic policy of Ukraine, the identification of key challenges and possible ways to overcome economic difficulties in the conditions of instability and crisis is extremely relevant.
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