{"id":10856,"date":"2019-03-20T14:00:41","date_gmt":"2019-03-20T12:00:41","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=10856"},"modified":"2019-03-28T12:00:46","modified_gmt":"2019-03-28T10:00:46","slug":"trust-in-hryvnia-functional-aspect","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/trust-in-hryvnia-functional-aspect\/","title":{"rendered":"Brychko Maryna, Badalov Heorhii Trust in Hryvnia: Functional Aspect"},"content":{"rendered":"

[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text]<\/p>\n\n\n\n
JEL<\/strong> Classification:<\/strong> G21; E31; E40; G41 (1-5).<\/td>\nDOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V13(2019)-05<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_column_text]Brychko Maryna<\/strong>, PhD (Economics), Senior Lecturer of the Department of Finance, Banking and Insurance, Sumy State University, Sumy, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0002-9351-3280<\/a>
\ne-mail:<\/strong> m.brychko@uabs.sumdu.edu.ua<\/a><\/p>\n

Badalov Heorhii,<\/strong> Master of Finance, Banking and Insurance, Sumy State University, Sumy, Ukraine<\/p>\n

e-mail:<\/strong> heorhiibadalov@gmail.com<\/a><\/p>\n

Trust in Hryvnia: Functional Aspect<\/h2>\n

Abstract<\/strong>. The purpose of this study is to develop a broader complementary approach to measuring the level of public trust in the Ukrainian national currency \u2013 hryvnia.\u00a0 It was suggested to calculate the general level of public trust in hryvnia based on its implementation of the main money functions: unit of account (sometimes referred as a measure of value), medium of exchange, store of value, standard of deferred payment and a world money. This approach allows monitoring the trust of economic agents in hryvnia as the main institution of the financial sector of the economy, as well as determining the causes of the erosion of trust crisis in the national currency (due to violations or inability to fulfil fundamental functions of money). It was found a long-term trend of increasing the general level of public trust in the hryvnia and the monetary system in general. The analysis revealed that from 2008 to 2010 the increase in the general level of trust in hryvnia had been achieved primarily through the performing by the national currency functions of unit of account, standard of deferred payments and the world money. During the period from 2010 to 2013, the source of growth has been an increase trust in hryvnia at the time of its performing function of a store of value. In 2014 there was the sharpest drop in 18% caused by an inability to fulfill its functions of unit of account, medium of exchange, store of value and the world money<\/p>\n

Keywords<\/strong>: trust; hryvnia; currency; monetary unit; monetary system.<\/p>\n

References:<\/strong><\/p>\n

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  1. World Values Survey Publications. World Values Survey. Retrieved from http:\/\/www.worldvaluessurvey.org\/WVSContents.jsp.<\/li>\n
  2. The General Social Survey. NORC at the University of Chicago. Retrieved from http:\/\/www.gss.norc.org.<\/li>\n
  3. Eurobarometer Public Opinion. European Comission. Retrieved from http:\/\/ec.europa.eu\/COMMFrontOffice\/publicopinion\/index.cfm.<\/li>\n
  4. Data and Documentation. European Social Survey. Retrieved from https:\/\/www.europeansocialsurvey.org\/data\/<\/li>\n
  5. Consumer confidence index. OECD Data. Retrieved from https:\/\/data.oecd.org\/leadind\/consumer-confidence-index-cci.htm<\/li>\n
  6. Indeks doveriya po versii GFK. Gumanitarnyye tekhnologii<\/em>. Retrieved from https:\/\/gtmarket.ru\/research\/gfk-trust-index [in Ukrainian].<\/li>\n
  7. Hansen, T. (2012). Understanding trust in financial services: the influence of financial healthiness, knowledge, and satisfaction. Journal of Service Research<\/em>, 15, 280-295. DOI: https:\/\/doi.org\/10.1177\/1094670512439105.<\/li>\n
  8. Chuanyi, T. (2013). After the global financial crash: individual factors differentiating young adult consumers\u2019 trust in banks and financial institutions. Journal of Retailing and Consumer Services<\/em>, 20, 26-33. DOI: https:\/\/doi.org\/10.1016\/j.jretconser.2012.10.001.<\/li>\n
  9. Nienaber, A. M. (2013). A meta-analysis and meta-regression of organizational trust in the financial services sector. International Journal of Bank Marketing<\/em>, 32, 367-407. DOI: https:\/\/doi.org\/10.1108\/IJBM-12-2013-0146.<\/li>\n
  10. Ferreira, F. A. (2015). A metacognitive decision making based-approach to bank customer loyalty measurement and management. Technological and Economic Development of Economy<\/em>, 21, 280-300. DOI: https:\/\/doi.org\/10.3846\/20294913.2014.981764.<\/li>\n<\/ol>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received:<\/strong> 09 January 2019<\/p>\n

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    Brychko, M. & Badalov, H. (2019). Trust in Hryvnia: Functional Aspect. Modern Economics<\/em>, 13(2019),\u00a033-40. DOI: https:\/\/doi.org\/10.31521\/modecon.V13(2019)-05.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]<< Back to contents<\/a>[\/vc_column_text][\/vc_column][\/vc_row]<\/p>\n<\/section>","protected":false},"excerpt":{"rendered":"

    [vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text] JEL Classification: G21; E31; E40; G41 (1-5). DOI: https:\/\/doi.org\/10.31521\/modecon.V13(2019)-05 [\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_column_text]Brychko Maryna, PhD (Economics), Senior Lecturer of the Department of Finance, Banking and Insurance, Sumy State University, Sumy, Ukraine ORCID ID: 0000-0002-9351-3280 e-mail: m.brychko@uabs.sumdu.edu.ua Badalov Heorhii, Master of Finance, Banking and Insurance, Sumy State University, Sumy, Ukraine e-mail: heorhiibadalov@gmail.com Trust in Hryvnia: Functional Aspect Abstract.
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