Financial Policy of Ukraine for the Maintenance of Macroeconomic Stability

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Browsing Financial Policy of Ukraine for the Maintenance of Macroeconomic Stability by Author "Lepekha, Kateryna"

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    An examination of government debt and analysis of debt sustainability indicators in Ukraine
    (Kyiv-Mohyla Academy Publishing House, 2023) Lepekha, Kateryna; Slaviuk, Nataliia
    Since the moment of proclaiming the independence of Ukraine in 1991, the management of government debt was made by different methods. The government debt of Ukraine during the period of 1991-2000 was characterized by the higher amount of external borrowings and the increasing of government indebtedness. After the 10 years of independence it was accumulated 14,1 billion USD (10,3 billion USD of external debt and 3,8 billion USD of internal debt). The main goal of usage the government borrowings was the coverage of budget deficit.
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    Financial Policy of Ukraine for the Maintenance of Macroeconomic Stability : the collective monograph
    (Kyiv-Mohyla Academy Publishing House, 2023) Lukianenko, Iryna; Galytska, Eleonora; Primierova, Olena; Slaviuk, Nataliia; Nasachenko, Mariia; Donkoglova, Nataliia; Lepekha, Kateryna; Mordas, Olena; Orlovska, Oleksandra; Tomilina, Mariia; Nesterenko, Anastasiia; Veremiienko, Vitalii; Lukianenko, Iryna
    The development of theoretical and methodological foundations in the field of state financial policy has been the subject of numerous works by both domestic and foreign scholars. Despite this, in contemporary conditions, the issues of state regulation require further resolution. The relevance of this research is strengthened by the complex socio-economic situation arising in Ukraine since the onset of a full-scale invasion, the growth of external and internal risks, social and financial instability, the increasing outflow of skilled labor, and the economic decline, significantly limiting the application of classic macroeconomic regulation tools. The significance and complexity of these problems, both in theoretical and practical aspects, underline the importance and value of research in this direction, which should make a substantial scientific and practical contribution to enhancing the effectiveness of management decisions to ensure the macroeconomic stability of the state. Accordingly, the research aims to develop theoretical and methodological provision and contemporary economic-mathematical tools to form a financial policy strategy, which has the goal to ensure economic stability, to increase the competitiveness of the national economy, and restore economic growth in Ukraine. For students of economic specialties, graduate students, teachers, civil servants, specialists and everyone who seeks to master the theoretical and practical aspects of building dynamic macroeconomic and simulation models for the formation of medium-term and longterm economic policy of the state, aimed at achieving macroeconomic stability even under unpredictable conditions of rapid development of external and internal crisis phenomena.
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    Modeling the cost of government debt
    (Kyiv-Mohyla Academy Publishing House, 2023) Lepekha, Kateryna; Slaviuk, Nataliia
    To build the model, monthly data from January 2016 to March 2023 were used, including the central bank rate, weighted average yield on government bonds, average rates on loans and deposits, as well as the spread between interest rates on hryvnia and foreign currency deposits. As far as the inflation targeting regime was implemented in 2015, the effect of changes in the base rate started influencing other financial market rates through the transmission mechanism from 2016. Before, the rates were relatively weakly correlated. The first step in determining the model's specification involves checking the time series for stationarity. All-time series, except for the new deposit rate, are stationary in the first differences, while the deposit rate is stationary in the second differences.