Poltorak Anastasiia, PhD (Economics), Associate Professor of the Department of Finance, Banking and Insurance, Mykolayiv National Agrarian University, Mykolayiv, Ukraine

ORCID ID: 0000-0002-9752-9431
e-mail: poltorak@mnau.edu.ua

Palamarchuk Victoriia, Applicant of Higher Education, Mykolayiv National Agrarian University, Ukraine

ORCID ID: 0000-0002-6466-6835
e-mail: palamar98@ukr.net

Features of Guaranteeing the Security of the Integrated Global Financial Space

Abstract. Introduction. Global epidemics spread across many countries and continents have broad socio-economic impacts that, in the context of economic globalization, active international trade and tourism, cause shockwaves and negatively affect the security of the global financial space. Therefore, the current conditions of the COVID-19 world pandemic necessitate the development of new mechanisms for guaranteeing the security of the integrated global financial space and monitoring the features of guaranteeing the security of the integrated world financial space in the context of pandemics.

Purpose. The purpose of the article is to deepen the theoretical and methodological foundations of the security features of the integrated global financial space in the context of pandemics.

Results. The conceptual principles of financial security of the state in the context of a pandemic are analyzed. Based on the analysis of the semantic network of the investigated category, the author’s vision of the essence of this category is presented. The essence of the pandemic is considered as a factor of influence on the level of financial security of the state, its influence on all subsystems of financial security of the state is investigated. The financial security of Ukraine for 2009-2018 was monitored and the financial consequences of epidemics and pandemics were analyzed. Estimates of the financial security of the state through the introduction of measures to counter the spread of the virus are presented. Based on the results of the SWOT-analysis of the financial security of Ukraine in the context of the COVID-19 pandemic, it was found that the main opportunities for strengthening the financial security are the development of financial technologies, transparency of capital movement in the country and effective tax policy. The directions of guaranteeing financial security are proposed, which will contribute to ensuring the realization of these opportunities, including: a set of effective tax policies in a pandemic; introduction of the concept of P2P lending system development; implementation of the algorithm of a unified medical system for patients’ health using blockchain technology.

Conclusions. We are convinced that these innovative measures and the application of the best experience of other countries will mitigate the negative economic consequences, preserve the production potential of the economy and strengthen the level of financial security of the state.

Keywords: financial security; pandemic; financial technologies; digitization.

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