№ 7/2020

Ekon Ukr. 2020 (7): 5–13https://doi.org/10.15407/economyukr.2020.07.005

УДК 336.1

JEL: E61, F65, G01, H12

IEFYMENKO Tetiana¹

¹SESE “Academy of Financial Management”, Research ID : http://www.researcherid.com/rid/https://www.webofscience.com/wos/author/record/HMP-1501-2023
OrcID ID : https://orcid.org/https://orcid.org/0000-0002-9163-3959

FINANCIAL MANAGEMENT TRANSFORMATIONS AND SUSTAINABLE DEVELOPMENT OF THE NATIONAL ECONOMY

In the conditions of global challenges of destabilization, it is extremely important to direct management actions of all branches of government to implement anti-crisis programs, taking into account the peculiarities of regulatory levels and specific economic sectors. Timely support for constructive initiatives to comprehensively address the problems of their development and implementation should be provided not only in the institutional, but also in the resource and financial dimensions. In the context of European integration processes, against the background of unpredictable prospects for global development, improving the management of public and international finances requires the creation of innovative knowledge, development of adequate proposals for appropriate changes to existing regulatory, behavioral norms and rules.
The purpose of the article is to substantiate the directions of coordinated transformations in the field of public financial management, its fiscal and monetary components, taking into account the trends of global financialization, as well as the threats of recession of the national economy. The institutional approach and methods of scientific analysis are applied: empirical, statistical, comparative, retrospective, as well as logical and other methods, in particular, with the use of expert assessments.
The processes to overcome financial and economic failures usually lead to the accumulation of future debt obligations, which negatively affect the financial and economic condition of countries with emerging markets, including Ukraine. The current crisis, compared to previous ones, is characterized by a high level of uncertainty, that destroys the motivation of investment activity of both governments and businesses and households. The strategic vector of the evolutionary activity of government, on the one hand, should focus on changes in the market environment, and on the other – to inspire with the help of regulatory levers constant reproduction of partnerships between economic agents, encouraging them to make efforts to improve the welfare of citizens. Approaches to identifying and pooling the common interests of the state and the private sector in fiscal relations should be developed on the basis of mutual understanding and active dialogue.

Keywords:fiscal and monetary components of financial management; sustainable developments; crisis; uncertainty; state regulation.

Article original in Ukrainian (pp. 5 - 13)

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The article was received by the Editorial staff on July 1 , 2020

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