Nosan Nataliia, PhD (History), Associate Professor, Associate Professor of the Department of Economics and Entrepreneurship, Cherkasy State Technological University, Cherkassy, Ukraine

ORCID ID: 0000-0002-4005-8333
e-mail: natali_nosan@ukr.net

Diagnosis of the Financial Security of Ukraine based on an Analysis of Global Indexes and Positions in International Ratings

Abstract. Introduction. One method of expressing the level of economic security of Ukraine and its financial component may be through an analysis of the position of Ukraine in various international ratings. Since the recent large-scale study of the Ukraine’s financial security was conducted at the national level in 2014, there is a need to re-diagnose the level of financial security now, in 2019. At the same time, as a basis for the formation of an expert opinion, it is proposed not to choose a cumbersome, methodological approach with a large number of calculations, but the rating positions of Ukraine obtained as a result of supranational studies by authoritative world organizations and funds of the level of development of economic systems of different countries of the world.

Purpose. The purpose of the study is to form a general idea of the financial image of Ukraine and the level of financial security of the state on the basis of assessing the position of the country in international ratings and identifying the dynamics of their changes and trends of deterioration or improvement.

Results. On the basis of the data of international indexes and ratings, from the standpoint of the stakeholder, an express assessment was made of the level of security of the financial component of the national economy of Ukraine. There is a tendency to improvement in the domestic financial system, which, however, is restrained by local and global financial factors, challenges, and risks. All of these are important in time to identify, prevent, and minimize through public administration in the financial sphere of the economy.

Conclusions. Provided that the diagnosis of the state of financial security is carried out by an external investor or a creditor who does not have a profound knowledge of the peculiarities of the functioning and development of the financial system of Ukraine and makes decisions based on international ratings of national economies, his idea of the financial image of our state will be negative. Therefore, at the state level, urgent measures should be taken to increase Ukraine’s rating positions in world rankings and indices through qualitative transformation of the domestic financial system in the direction of improving the level of state financial security.

Keywords: financial security; financial security; rating; financial literacy; financial inclusion.

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