The Problems of Economy

6

Authors: Grischenko T. V., Anzina H. V.

The article deals with the questions of financialization as a global trend in the development of the world economy which is characterized be the dominance of the financial sector in the processes of market pricing. Considering the fact that the financial system is a key element in any economy, financialization has its effect on the economy of each country. Such characteristics of the development of the Ukrainian economy as low liquidity and capitalization of the financial market, a high systemic risk level, a relative closedness of the market for foreign investors result in classification of the Ukrainian market as a frontier one (in accordance with the MSCI index proposed by the rating agency Standard&Poor’s). The study singles out the specific features of the effect produced by financialization on the economy of Ukraine and, consequently, economic agents within the country. The authors proved that the process of financialization of the world economy has a certain positive influence on countries with frontier capital markets in terms of emergence of new opportunities for their participation in the international capital market, utilization of modern financing tools, enrichment of the global experience of corporate management, etc.

6

Authors: Melnychenko O. V.

The article focuses on the study of the waiting line theory and application of its methods and principles while analyzing operations with electronic money in cash desks of various establishments, among them commercial enterprises and banks. The work analyzes cashiers’ operating results on the basis of data from the real sector of economy. The author proposes a mechanism for analysis of cashiers’ work taking into account the factors which have an effect on their operating results reflected in the number of customers served per unit of time. Besides, the author conducted modeling of changes in the indices of the cash desk performance capacity based on the results of replacement of methods that customers use to put money into the cash desk: transition to non-cash transactions by using only bank cards and electronic money. The study proves that decreased amount of time that customers spend on paying for goods or, for example, settling bills in bank cash desks, influences the cashier’s operating efficiency by increasing the customer traffic, as well as the quality of customer service and reduction in costs associated with maintenance of the cash operating units.

8

Authors: Zeldis V. V.

The article deals with analysis of the world derivative trade volumes in view of stock exchanges, tools, and categories. It is argued that the derivative segment of the exchange market is still in the making in Ukraine. The article considers the preconditions, operational characteristics, procedural rules for the trade in futures and stock options; the current practice of futures and options margining, settlement of derivative deals, provision of quotations for the corresponding deals, characteristic features of the domestic exchange derivative market. In the context of reliability crisis of the national financial system, in order to avoid numerous difficulties occurring within the derivative segment of the exchange market of Ukraine, it is recommended that small speculators as well as representatives of the small and medium-sized business sector requiring up-to-date risk management tools pay attention to the world centers of the exchange trade in derivatives.

19

Authors: Khaustova V. Ye.

The article determines that industry is the foundation for any economy, for which reason support of the industrial development receives special attention from the governments of virtually every country of the world, including Ukraine. The article aims to analyze the existing legal and regulatory framework for the state support of the industrial development in Ukraine and methods of its improvement. The article analyzes the state industrial policy concepts adopted in the country: their objectives, main principles, structure, funding sources, primary tasks and priorities, etc., as well as specific implementation aspects and obtained results. The author considered the concepts of the nation-level target economic programs of the industrial development of Ukraine: their characteristic features, proposed directions for support of the industrial development of the country, priorities, etc., as well as expected and actual implementation outcomes. The sector-specific concepts of State target science and technology programs were analyzed, as well as strategies of the economic and social development of Ukraine and industry sectors; their objectives and characteristics were considered. The article also discusses the adopted Laws of Ukraine dealing with the development of leading industry sectors and the tasks and priorities declared by them. The study allowed investigating and generalizing state comprehensive target programs and other programs aimed at the development of the country’s industry, as well as Resolutions of the Cabinet of Ministers of Ukraine and the National Security and Defense Council of Ukraine adopted in Ukraine over the past 15 years, their primary goals and priorities, as well as funding sources. The conducted analysis allowed proving that the fact of the governmental bodies and agencies taking no practical steps for the accomplishment of the tasks declared in concepts, strategies, and policy documents, as well as failure to achieve the planned level of industrial development give one the grounds to argue that realization of the industrial policy in Ukraine must be reconsidered and requires adoption of a strategic plan for further development of the Ukrainian industry in the medium and long term.