Current problems of economic theory

Keywords: economic services, primary service, secondary service, product, goods, value.

Economics and management of National Economy

Keywords: economy, investment, land resources, academic institutions, labor, markets.

Keywords: cross-border cooperation, cross-border convergence, institutional factors, European integration.

Keywords: institute, institution of traps, governance, regulation costs, business sector, public administration.

Keywords: globalization, metaeconomy, network economy, knowledge economy, social reproduction, social division of labor, social policy, social compromise

Economics, management of sectors and enterprises

Keywords:motivation, methods of employee motivation, effciency, economic incentives and intangible methods

Keywords:innovation, innovationprocess, diffusion, innovation effectiveness, proftability, payback period

Finance, monetary circulation and credit

Keywords:exchange regulation, exchange rate, balance of payments, account of current operations, account of fnancial operations, capital movements, exchange controls, monetary regime, devaluation, inflation targeting, flexible exchange rate management

Keywords:financial policies, fnancial system, fnancial mechanism, fnancial instruments, fnancial control

Keywords:fiscal optimization, state debt, fiscal consolidation, quasi-fiscal expenditures, fiscal decentralization, progressive tax system

Keywords:financial market, financial market infrastructure, intermediary component of the institutional infrastructure, financial assets.

Keywords:budget policy, government expenditures, budget balancing, local financial policy

Keywords: management mechanism of local budgets, decentralization of budget, fscal and administrative spheres, budget planning, budgeted funding, operational management.

Keywords: gross domestic product (GDP), the budget, tax, decentralization, federalism, expenditures, budget revenues, income tax, local taxes, state taxes.

Keywords: banking, multinational corporations, financial flows, multinational banks, the criteria for transnational banks, transnational capital.

Keywords: voluntary medical insurance, corporate health insurance benefits package, insurance culture tax incentive

Keywords: insurance fraud, insurance system, fight against insurance fraud, organization of fighting fraud in the insurance system

Keywords: financial intermediation, financial intermediaries, financial institutions, services in the feld of financial intermediation, the transformation of savings into investments.

Accounting, analysis and audit

Keywords: sustainable development, integrated system of economic accounting, basic economic indicators, indicators of social security, indicators of environmental safety.

Keywords: quality of accounting and analytical information economy, показники оцінки якості інформації, integrated quality assessment factors of quality, financial statements.

Keywords: automation of accounting, accounting information, cloud technologies, cloud services, cloud-form computer accounting software, information and computer technology.

Mathematical modeling and information technologies in economics

Keywords: stock market, price dynamics, fundamental and technical analysis, agent-based modeling.

Keywords: risk assessment, Value-at-Risk, portfolio, back-testing.

Zoriana Matsuk
Candidate of Economic Sciences, Docent (Associate Professor), Department of Finance,Ivano-Frankivsk National Technical University of Oil and Gas

Services as a part of the social product within which they operate and develop independently is considered. The relationship between the services as a result of the functioning of the immaterial sphere and other subsystems of society andtheir importance for business and economic activity is found out. Twofold character of services is proved, and naturally formed (primary) and secondary services are emphasized. The material basis of services is studied, and suggestion is made to distinguish between all kinds of services by their distance from the material basis, and accordingly to view the services as a set of high and low material parts. The value of services as a basis of pricing for the services is considered.

SERVICES AS ECONOMIC CATEGORY: THEORETICAL ASPECTS

Volodymyr Boreiko
Doctor of Economics, Associate Professor, Vice-rector in science work of International Economics and Humanitarian University named academician Stepan Demianchuk

In the article substantiates the necessity of attracting additional investment resources to the economy of Ukraine.Reveals the investment benefts the national economy, including: cheap fertile land, signifcant reserves of mineral, water and forest resources, availability of research institutions with experience design and development of high technologies in various felds, proximity of the Asian and African markets of fnished products, a developed transport infrastructure, high level of qualifcation and a low cost of the workforce. Proposed the measures to attract additional investment resources to the economy of Ukraine.

INVESTMENT ADVANTAGES OF UKRAINE ECONOMY

Katazhyna Kutsab-Bonk
PhD. in economics, Lecturer of the Bronisław Markiewicz State Higher School of Technology and Economics in Yaroslaw, Poland

Cross-border cooperation between Ukraine and the EU today is becoming increasingly important. One of its key challenges is the convergence of economic development from different sides of the border. That mean crucial role of stimulation of cross-border convergence for improving the effciency of cross-border cooperation in modern conditions. At the same time, special importance is attached to institutional influence factors. Ability to create the adequate institutional background for the deployment of cross-border convergence determines the success of the development of transboundary cooperation between Ukraine and the EU at the present stage of European integration.

INSTITUTIONAL FACTORS OF CROSS-BORDER CONVERGENCE IN THE MODERN STAGE OF EUROPEAN INTEGRATION OF UKRAINE

Galina Kolesnik
PhD in Economics, Associate Professor of Accounting and Auditing Higher Educational Institution Uzhhorod National University

The article revealed the concept of institution and institutions. Investigated that consideration of the institutional environment involves isolating nature of macroeconomic institutional conditions that influence the development of business regulation costs. Research institutional conditions of business regulation costs indicates their importance and active role of institutions and institutional environment in economic development. Isolation and systematization of institutional conditions of business regulation costs at the macroeconomic level makes it possible to identify the problematic areas of institutional transformation. In the course of our study revealed the fullness of formal and informal relationships between business entities and the state in which was formed a number of so-called institutional traps that undermines support priority economic activities, information transparency and legal protection business. Studied that in Ukraine formed a relationship between the presence of traps and institutional sources to beneft from them. We believe that the benefciaries of the existence of institutional traps are employees of public authorities. After all, they are individual employees maximize its utility, and the other civil servants representatives of the people, the original function of which is to maximize the welfare of society. Dedicated institutional conditions and pitfalls of business regulation costs at the level of government proves the need to develop strategies to minimize the cost of the business sector to support priority economic activities, information transparency, legal protection.

INSTITUTIONAL AND CONDITIONS OF ADJUSTMENT EXPENSES TRAP ENTERPRISE

Ivan Topishko
PhD, Associate Professor

Natalia Topishko
PhD, Assistant Professor

Tetiana Galetska
PhD, Assistant Professor Department of Economic theory, Management and Marketing The National University of Ostroh Academy

The article describes the essence of globalization as a systemic transformation of the global economy. The attention is focused on the features of the network (digital, symbolic, high-speed) economy emerging. Characterized its impact on social relations and diverse aspects related positive and negative changes. The prospects of transformation information society in the knowledge society, which will be the basis of knowledge economy as the embodiment synergetic effect of the use of production factors. The necessity of adjusting the exchange rate market reform Ukraines economy, its social orientation based on the change of meaning and mechanisms of social and economic policy.

TRANSFORMATION OF ECONOMIC CONDITIONS IN THE ECONOMY OF KNOWLEDGE AND ITS IMPACT ON SOCIAL POLICY

Alona Klymchuk
PhD in Economics, Doctoral student of International Economic Relations Department, Khmelnytskyi National University

The article proves the need for individual and group motivation techniques, the introduction of which increases the productivity of the enterprise, ensures the interest of employees in maintaining workplace, meets its primary and secondary needs, and creates the appropriate conditions in the industry. The analysis of the factors of personnel motivation in foreign enterprises their place in the motivation of employees are defned. It is proved that the combination of economic and intangible methods of employees motivation at the industrial enterprises can provide the effcient productivity growth and meet its own economic and non-material needs of personnel.

METHODS OF PERSONNEL MOTIVATION AT THE INDUSTRIAL ENTERPRISES

Michael Polyuhovich
Postgraduate, Department of Accounting and Auditing National University of Water and Environmental engineering

The role of innovation as the main component of improving the effciency of business enterprises. The features of the innovation process, reasonably functional role of innovative management of domestic enterprises. The analysis indicators are used to assess the economic effciency of innovation.

NATURE, FEATURES AND IMPORTANCE OF EVALUATION PROCESS INNOVATION IN THE ENTERPRISE

Olena Bereslavska
doctor of economic sciences, professor, head of the Department of banking and fnancial monitoring, University of the state fscal service of Ukraine

In the article the questions liberalization of mechanism the currency regulation are investigated in Ukraine in the conditions of integration processes and change the monetary mode. The change of role rate exchange is shown in the conditions macrofnancial transformations. Examined limitation on the account of fnancial operations balance payments of Ukraine. Measures are offered on a free capital flow. The necessity stage-by-stage liberalization of mechanism the currency regulation is grounded in the conditions of flexible formation of course. A list is offered of concrete currency operations, requiring lifting restrictions on their realization. Measures are grounded on the increase of independence NBU during realization process liberalization of mechanism the currency regulation.

THE LIBERALIZATION OF THE CURRENCY REGULATION IN UKRAINE

Olena Grygorska
postgraduate Taras Shevchenko National University of Kyiv

In the article the approaches of domestic and foreign scientists and economists to the defnition of the state fnancial policy are analyzed. Taking into account the results of the critical analysis the author suggested his own defnition of the essence of fscal policy. The importance of cash flow management, the sending State for the implementation of strategic and tactical goals and objectives of social, economic, political and spiritual development of society is emphasized. The importance of the current state of the fnancial system and its functioning, as well as internal and external factors that may affect the development process and implementation of fscal policy have been taken into account.

ESSENTIAL CHARACTERISTICS OF THE STATE FINANCIAL POLICY

Мykola Кarlin
doctor of Science (Economics), Professor, Lesya Ukrainka Eastern European National University

This article analyzes the reasons for the growth of the state debt of Ukraine and suggests the ways of its optimization considering fscal interests of the state, local communities and individuals, based on positive and negative experiences of some EU countries. Emphasis should be placed on reducing quasi-fscal expenditures, limit the withdrawal of fnancial resources to shadow economy and offshores, the optimization of state expenditures on government fnance, the gradual reduction of the single social contribution, the introduction of a differentiated system of income tax.

FISCAL OPTIMIZATION AS A CONDITION FOR REDUCING THE STATE DEBT OF UKRAINE

Tatiana Kizyma
Doctor of Economic Sciences, Professor, Professor at Finance Department named S.I. Yuriy, Ternopil national economic university

Oleh Lutsyshyn
PhD in Economic, Associate Professor, Associate Professor at Finance and Insurance Department, Ternopil national economic university

Theoretical and institutional framework of the fnancial market is researched and its infrastructure segments are defned. Latest trends that take place in the main intermediary infrastructure segments of the fnancial market of Ukraine are analyzed, such as banking, non-bank fnancial institutions, insurance companies, pension funds, credit institutions, securities etc within the timeline of 2014-2016. Key issues related to the functioning of the fnancial market’s major segments in Ukraine are underscored in this article. Recommendations are provided for enhancing savings and investment processes in the modern conditions.

ANALYTICAL REVIEW OF FINANCIAL MARKET INFRASTRUCTURE IN UKRAINE:INSTITUIONAL ASPECT

Yelena Kramarenko
aspirant Natsional’nogo universiteta gosudarstvennoy nalogovoy sluzhby Ukrainy

In the article was considered the opportunity to introduce the appropriate methodology of estimation on a certain time interval the measure of budget system sustainability, which must take into account the ratios of bills receivable and bills payable of general, state and local budgets to the total expenditures of the appropriate budget, the analogous measure on social payments, the tax burden on economy, the level of budget revenue collection and fulfllment of expenditure side,the level of budget defcit fnancing.

METODOLOGICAL SUPPORT OF LOCAL BUDGET POLICY

Olha Demianchuk
Candidate of Economic Sciences, Associate Professor of Finance, Accounting and Audit in The National University of Ostroh Academy

The article deals with the peculiarities of the management mechanism of local budgets in the process of decentralization reforms. The author reveals major problems in the functioning of the components of the management mechanism of local budgets before the reforms. Further, the author shows how decentralization reform in various spheres influenced the change of management mechanism and its components. The article also reveals that budget planning and provision take place on the basis of medium-term planning, taking into account changes in the budget and fscal spheres. Exercising operational management of revenues and expenditures of local budgets, local government and local administration authorities take into account measures of strategic programs of their administrative units. The author sums up by suggesting the ways to improve the functioning of certain components of management mechanism of local budgets in Ukraine within the context of decentralization reforms.

MANAGEMENT MECHANISM OF LOCAL BUDGETS IN UKRAINE WITHIN A DECENTRALIZED CONTEXT

Taras Marshalok
PhD in Economics, аssociate professor of tax and fscal policy, Ternopil National economical University

In the article the essence of basic concepts relating to the object of research, including «decentralization», «fscal decentralization», «fscal federalism». Analyzes the steps the government’s policy of fscal decentralization in Ukraine. A detailed analysis of budget indicators relating to the implementation of the decentralization policy in terms of revenue and expenditure of the consolidated, state and local budgets. Studied the interdependence of expenditures and revenues to GDP, which helped to identify and set the policy of decentralized type in the public sector of Ukraine. In this article these problems and singled out the basic directions of their decision to build an economically developed country with a policy of fscal autonomy of local authorities.

THE POLICY OF FISCAL DECENTRALIZATION IN UKRAINE – BOTH POSITIVE AND NEGATIVE EFFECTS

Aleksandr Momot
Candidate of Sciences (Economics), Associate Professor of Department of Finance and Banking, Higher Education Institution of Ukoopspilka «Poltava University of Economics and Trade»

The essence of transnational banks is considered and the criteria of transnational banks are defned. The economic nature of the transnational banks is characterized and specifc features of such banks are found. In particular, it is noted that the international aspect of the banking is not a main characteristic of the transnational banks, international banks as well as the international trade fnancing, foreign exchange transactions and providing of EuroMarket loans. On the basis of scientifc research the advantages of transnational banks are highlighted and their importance in the context of economic growth support and the fnancial stability contravention in the country is proved.

ECONOMIC NATURE OF TRANSNATIONAL BANKS

Yaroslava Novosad
Researcher, postgraduate, Lviv University

The article analyzes the development of medical insurance in Ukraine and studied the advantages and disadvantages of using corporate insurance programs to promote voluntary health insurance. Determined that today the Ukrainian health care system is under reform, mandatory health insurance has not been introduced, and the main consumers of voluntary medical insurance programs are corporate clients. In the article the basic constraints of medical insurance in Ukraine, including low income, lack of quality health care providers in the region, insuffcient degree of confdence in the insurance sector and low insurance culture population.

CORPORATE HEALTH INSURANCE AS PART OF VOLUNTARY HEALTH INSURANCE IN UKRAINE

Nataliia Prykaziuk
PhDi neconomics, associate Professor, acting Head of Department of Insurance and Risk Management, Taras Shevchenko National University of Kyiv

The international experience of organization of fghting fraud in the insurance system is investigated. The similarities are determined and countries with the same organization are grouped. 3 generalized model of fghting fraud in the insurance system, developed world practice, are offered. The progressive approaches in organizing the fght against insurance fraud are determined.

FOREIGN EXPERIENCE OF FIGHTING FRAUD IN INSURANCE SYSTEM

Nataliya Tkachenko
doctor of Economics, professor, head of Department of Finance and Credit of Cherkassy Institute of the State Higher Educational Establishment «The University of Banking»

The basic reasons that prompted the emergence of various types of mediation on the fnancial market are defned. The stimulating factors of the Ukrainian Institute of fnancial intermediation development in the end of XX – beginning of XXI century are presented. The incorrectness of renaming «the fnancial intermediary» into «the fnancial intermediation» is found. An assessment of the existing theoretical approaches to defning the essence of the concept of «fnancial intermediation» is assessed and the conceptual foundations of the interpretation of its content are formulated. On the basis of research of the fnancial intermediation theory was identifed that this phenomenon should be considered comprehensively, taking into account the professional activities of fnancial institutions that specialize in providing fnancial services to meet the fnancial needs of economic agents by organizing the movement of value and transformation of savings into investments, and other institutions fnancial market, which contribute to the effectiveness and safety of such a transformation.

CONCEPTS OF MODERN IDEAS ABOUT ECONOMIC NATURE OF FINANCIAL MEDIATION

Svitlana Levytska
PhD, Professor, National University of Water Management and Natural Resources Use

Analyzes the need for implementation of analytical accounting indicators of economic support for social protection and environmental safety within the business enterprise. Taking into account international practices are based on basic and derived economic indicators, qualitative and quantitative environmental safety, performance of social security of employees. The problems of managerial accounting centers of responsibility in terms of economic, social and environmental indicators, monitoring their resources. The method of accounting organization and balance of operations, alternative sources of fnancial provision of socio-economic balance: by introducing analytical sub-accounts for costs by a specially created from the profts of the Fund, through the creation of a special type of software.

ECONOMIC SUPPORT SOCIAL AND ENVIRONMENTAL COMPONENTS OF SUSTAINABLE ENTERPRISES OPERATING ACTIVITIES: ACCOUNTING APPROACHES

Olga Osadcha
Associated Professor, Department of Accounting and Audit, National University of Water Management and Natural Resources Use

The content of the concept of «quality of accounting and analytical information» is considered, the methodological approaches of quantitative assessment of its quality are summarized. Main thesis of the fnancial statements that characterize its quality are determined. The subaccounts, which is recommended to account the cost of generalization accounting and analytical information on the reporting date and the preparation of indicators in the fnancial statements, are highlighted.

EMETHODICAL APPROACHES RECOGNITION IN ACCOUNTING AND REPORTING OF INDICATORS FOR ASSESSING THE QUALITY OF ACCOUNTING INFORMATION

Anna Pashnina
Lecturer at the Department of Management of Rivne State Humanitarian University

In the article the features of Cloud-computer accounting form (or forms of accounting using the SaaS-service) are advantages and disadvantages of implementing cloud. Overview information on the most common cloud services for bookkeeping accounting or perform a number of tasks. The changes in accounting items in the use of ICT in comparison with the existing situation.

TRANSFORMATION OF ACCOUNTING TERMS ELEMENTS UNDER THE CONDITIONS OF COMPUTER INFORMATION TECHNOLOGY

Andrii Prymostka
PhD in Economics

The basic concepts of predictability of stock markets were analyzed, advantages and disadvantages of fundamental and technical analysis were found, the feasibility of agent-based modeling was proved as a promising innovative method of predicting the dynamics of stock markets.

THEORETICAL CONCEPTS OF PREDICTABILITY OF STOCK MARKETS

Valentyn Khokhlov
Ph.D., international marketing manager Global Spirits (Kiev, Ukraine)

In this paper the portfolio Value-at-Risk formulas are investigated using the portfolio assets weights. Considering drawbacks of the classic approach, where Value-at-Risk is treated like the standard deviation of return, more sophisticated formulas are derived. The Value-at-Risk back-testing of the Dow Jones index portfolio shows that the estimation error for the derived formulas is lower than for the classic approach. Moreover, analysis of the results shows that in many cases this error partially offsets the estimation error for the expected returns and their standard deviations through sample statistics.

PORTFOLIO VALUE-AT-RISK