Макрофінансова стабільність: теоретичні підходи та емпіричний аналіз

Abstract

Розглянуто теоретичні підходи до визначення сутності фінансової стабільності національної економіки. Обґрунтовано перелік індикаторів і показників для діагностики макрофінансової ситуації в країні. На основі аналізу основних макрофінансових параметрів фінансової системи країни визначено загрозливий для національної економіки ступінь макрофінансової нестабільності в Україні. Introduction. Current state of the national economy requires the development of scientific bases of forming an effective state policy of financial regulation with the aim of macro-financial stabilization clearly structured and sufficiently detailed system of financial indicators is needed to assess the health of the financial system of the state. Purpose. The purpose of this paper is to further develop theoretical approaches to the definition of “macro-financial stability and macro-financial indicators”, and justification of the choice of components of the system of indicators for diagnostics macro-financial stability of the state. Results. Theoretical approaches to defining the essence of financial stability of the national economy. Macro-financial stability is interpreted as the relative stability of the financial system within a certain range of conditions. It gives a list of indicators for diagnostics macro-financial situation in the country. The degree of macro-financial instability in Ukraine is determined on the basis of the analysis of the main macro-financial parameters of the financial system of the country as threatening to the national economy. Conclusion. The lack of a holistic theoretical concept of macro-financial stability, a clear system of an estimation of degree of stability (instability), as well as modifying the financial policy is one of the obstacles of ensuring macro-financial stability in Ukraine. Further investigation of these issues is needed to build a comprehensive macroeconomic policy to maintain macro-financial stability in the national economy.