UDC 336.743:004.056.55; JEL H26, O17
Vasyltsiv, T., & Hudzovata, O. (2018). Instrumenty detinizatsiyi hroshovo-kredytnoho sektoru v systemi zabezpechennya finansovoyi bezpeky Ukrayiny [Instruments for the depilation of the monetary sector in the system of financial security of Ukraine]. In Sotsial'no-ekonomichni problemy suchasnoho periodu Ukrayiny [Socio-Economic Problems of the Modern Period of Ukraine]: Vol. 132 (4) (pp. 95-101). Retrieved from http://ird.gov.ua/sep/doi/sep2018.04.101. [in Ukrainian].
Sources: 9

Authors



Vasyltsiv Taras Hryhorovych

Doctor of Economics, Professor

Acting Head of the Department of problems of social and humanitarian development of the regions of the Dolishniy Institute of Regional Research of NAS of Ukraine

Contacts: tgvas77@ukr.net, (098)11-555-01, (063)854-01-50

Webpages:

Hudzovata Oksana Olehivna

Ph.D. of Economics, Associate Professor

Associate Professor of the Department of computer science of the Lviv University of Trade and Economics

Contacts: osjanka@gmail.com

Webpages:

Resume

The paper proves that the scale of the shadow economy in the monetary and credit sphere of Ukraine is significant and it increases the threats to the financial security of the state due to the insufficient filling and irrational use of budget funds at all levels, the critical growth of domestic and foreign public debt, the instability of the functioning of banking institutions, their bankruptcy along with loss of the financial resource by economic entities and the population, the "escape" of capital, the formation of a quasi-insurance system, the operation of currency speculation, indicating the breadth and inclusiveness of the shadow penetration practically in all components of the financial security of the state. These factors are proven to be leading to the loss of monetary policy efficiency due to the significant amount of money that is not subject to regulation, as well as the effectiveness of fiscal instruments, reduction of tax revenues to the budget, outflow of capital and destabilization of the currency system, deterioration of the investment climate and reduced opportunities. The following priority instruments of the state policy of depilation of the monetary sphere have been identified: in the monetary sphere – development of the infrastructure for making cashless payments, increasing the level of security of non-cash payments, increasing financial literacy of the population; with the use of companies with signs of fictitious capital laundering – joining the Common Reporting Standard, the implementation of the BEPS (Base Erosion and Profit Shifting) projects, providing access to accounts of non-residents, joining the International Interagency Convention on the introduction of the status of foreign controlled companies, the introduction of a tax on international speculative transactions; on the securities market - the introduction of a single state register of issued bills, increased requirements for securities issuers, settlement of transactions for the sale and purchase of bills by insurance companies; in the foreign exchange market - the expansion of the possibilities of using currency swaps, the development of instruments for currency risk insurance, the development of the derivatives market, primarily futures, improving the methodology for assessing the withdrawal of capital outside the country, reducing bank restrictions.

Keywords:

financial security of the state, monetary policy, depilation

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