Financial market of Ukraine in the crisis conditions and directions for its reform

Ruzanna Arutyunyan
PhD in Economics, Associate Professor, Department of Banking, Odessa National Economic University, e-mail:ruzaodessa@gmail.com

Svetlana Arutyunyan
PhD in Economics, Associate Professor, Department of Financial Management and Stock Market, Odessa National Economic University, e-mail:svitlar9950@gmail.com

Cite this article:

Arutyunyan, R., Arutyunyan, S. (2017). Financial market of Ukraine in the crisis conditions and directions for its reform. Ed.: M. Zveryakov (ed.-in-ch.) and others [Finansovyi rynok Ukrainy v umovakh kryzy i napriamy yoho reformuvannia; za red.: М. I. Zveriakova (gol. red.) ta in.], Socio-economic research bulletin; Vìsnik socìal’no-ekonomìčnih doslìdžen’ (ISSN 2313-4569), Odessa National Economic University, Odessa, No. 1 (62), pp. 163–169.

Abstract

The features of functioning of the financial market in modern macroeconomic conditions of Ukraine and these conditions influence on a choice of economic system development model as a whole and in particular financial system in the post-crisis period are considered in the article. The resource base of the financial market and the possibility of its transformation into investment capital to ensure sustainable development of the real sector of the Ukrainian economy is analyzed. It is proved that overcoming the crisis state should be sought in the expansion of investment demand based on the Keynesian school’s recommendations. The main directions for reforming the financial market and the basic goals of the state’s long-term strategy in the development of the capital market are proposed.

Keywords

financial market; crisis; investment demand; Keynesianism; finansomics; transformation mechanism; savings; investments.

JEL classification: K230; G340; R500;  DOI: https://doi.org/10.33987/vsed.1(62).2017.163-169

UD classification: 366.747.061

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