BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE)

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

SITE SECTIONS

World Experience of Digital Development: Problems of Financial Subjectivity in the Context of Ukrainian Realities
Kornivska V. О.

Kornivska, Valeriia О. (2023) “World Experience of Digital Development: Problems of Financial Subjectivity in the Context of Ukrainian Realities.” Business Inform 11:241–248.
https://doi.org/10.32983/2222-4459-2023-11-241-248

Section: Finance, Money Circulation and Credit

Article is written in English
Downloads/views: 6

Download article (pdf) -

UDC 330.34:336.717

Abstract:
The aim of the article is to characterize the concept of financial subjectivity in the context of ensuring the reconstructive process, identifying the leading directions of digital financial development of Ukraine and determining their impact on the reconstructive process, as well as systematizing the world experience of digital financial transformations. To achieve the aim, the concept of financial subjectivity as the ability to exercise one’s financial freedom, which is a contradictory unity of independence and dependence on the inner essence of the decision-maker, has been substantiated. Taking into account the consideration that the implementation of financial subjectivity at the State level provides for the dominance of national priorities, it is shown that the intensification of digital development of the financial sector of our country has led to the formation of trends in which financial institutions will create significant risks for the reconstruction process and development of financial subjectivity. It is substantiated how digital lending, the dominant of non-cash circulation and the introduction of the central bank’s digital currency will level financial subjectivity, gradually excluding it from economic communication. At the same time, the European example of digital financial transformations is shown and its effectiveness in the context of harmonization of digital and non-digital development is substantiated. The ways to optimize the digital development of the financial sector of Ukraine are identified, the need to limit the influence of world financial regulators and prevent the experimental nature of the introduction of the central bank’s digital currency is shown.

Keywords: digital financial transformations, financial subjectivity, reconstructive development, cashless economy, digital currencies of central banks.

Bibl.: 24.

Kornivska Valeriia О. – Doctor of Sciences (Economics), Senior Research Fellow, Department of Economic Theory, Institute for Economics and Forecasting of NAS of Ukraine (26 Panasa Myrnoho Str., Kyiv, 01011, Ukraine)
Email: [email protected]

List of references in article

Hurlieva, T. S. “Subiektnist yak osnova osobystisnoho rozvytku vzaiemodiiuchykh uchasnykiv osvitnyoho protsesu“ [Subjectivity as the Basis for Personal Development of Interacting Participants in the Educational Process]. Osvitnii prostir v konteksti humanistychnoi paradyhmy: psykholohichni priorytety suchasnosti. 2020. https://lib.iitta.gov.ua/720509/1/Hurlieva_(2020)_SUBIEKTNIST_YAK_OSNOVA_OSOBYSTISNOHO_ROZVYTKU.PDF
“Subiektnist Ukrainy v suchasnomu sviti: otsinky, stratehii, prohnozy. Analitychna dopovid“ [Subjectivity of Ukraine in the Modern World: Assessments, Strategies, Forecasts. Analytical Report]. Kyiv : Instytut politychnykh i etnonatsionalnykh doslidzhen im. I. F. Kurasa NAN Ukrainy, 2020. https://ipiend.gov.ua/wp-content/uploads/2020/11/subiektnist_ukrainy.pdf
Hrytsenko, A. A. “Natsionalno ukorinenyi rozvytok ekonomiky yak lokalna vidpovid na hlobalni heoekonomichni zrushennia“ [Nationally Rooted Economic Development as a Local Response to the Global Geoeconomic Shifts]. Ekonomika Ukrainy, no. 4 (2023): 38-54. DOI: https://doi.org/10.15407/economyukr.2023.04.038
Hrytsenko, A. A. “Rekonstruktyvnyi ekonomichnyi rozvytok: zmist, osnovni napriamy i vektor sotsialnoi spravedlyvosti“ [Reconstructive Economic Development: Contents, Guidelines and the Vector of Social Justice]. Ekonomichna teoriia. 2016. http://etet.org.ua/docs/ET_16_4_05_uk.pdf
Nebrat, V. “Mizhnarodnyi dosvid strukturnykh reform dlia vidbudovy ekonomiky Ukrainy“ [International Experience of Structural Reforms to Rebuild the Economy of Ukraine]. Mizhnarodnyi istorychnyi dosvid povoiennoi rekonstruktsii ekonomiky : uroky dlia Ukrainy. 2023. http://ief.org.ua/wpcontent/uploads/2023/05/Mizhnar-istor-dosvid-povojen-reconstrukcii-uroky-dla-Ukrainy.pdf
Yaremenko, O. “Instytutsiini mekhanizmy rukhu i rozviazannia superechnostei hlobalizatsii ta lokalizatsii“ [Institutional Mechanisms of Movement and Resolution of Contradictions of Globalization and Localization]. Ekonomichni superechnosti hlobalizatsii ta lokalizatsii v umovakh hibrydnoi viiny ta pisliavoiennoi rekonstruktsii. http://ief.org.ua/wp-content/uploads/2022/12/Ec-superech-globaliz-ta-localiz-v-umomah-gibryd-viyny.pdf
Yaremenko, O. L. et al. Upravlinnia rozvytkom subiektiv hospodariuvannia [Development Management of Business Entities]. Kharkiv: Vyd-vo NUA, 2008.
Kornivska, V. O. Instytuty finansovoho poserednytstva v protsesi formuvannia informatsiino-merezhevoi ekonomiky [Institutions of Financial Mediation in the Process of Forming the Information and Network Economy]. Kyiv, 2018.
Kornivska, V. “Finansova nesvoboda u novomu suspilstvi“ [Financial Non-freedom in the New Society]. Ekonomichna teoriia, no. 1 (2021): 41-66. DOI: https://doi.org/10.15407/etet2021.01.041
Kornivska, V. O. “Tsyfrovi transformatsii: ryzyky kliientooriientovanykh finansiv“ [Digital Transformations: The Risks of Customer-Oriented Finance]. Problemy ekonomiky, no. 3 (2022): 156-163. DOI: https://doi.org/10.32983/2222-0712-2022-3-156-163
Hrytsenko, A. A. “Ekonomika Ukrainy na shliakhu do inkliuzyvnoho rozvytku“ [Ukraine's Economy on the Road to Inclusive Development]. Ekonomika i prohnozuvannia, no. 2 (2016): 7-20. DOI: https://doi.org/10.15407/eip2016.02.007
Hrytsenko, A. A., and Bobukh, I. M. “Ukraina u hlobalnomu ekonomichnomu prostori ta yii konkurentospromozhnist“ [Ukraine in the Global Economic Space and its Competitiveness]. Ekonomichna teoriia. 2019. http://etet.org.ua/docs/ET_19_3_101_uk.pdf
“USAID, the National Bank of Ukraine, and the Independent Association of Banks of Ukraine Challenge FinTech Industry to Develop Technology for Benefit of Ukrainian Users of Financial Services“. https://bank.gov.ua/en/news/all/nbu-usaid-ta-nabu-ogolosili-viklik-finteh-sektoru-schodo-rozrobki-tehnichnih-rishen-dlya-ukrayinskih-koristuvachiv-finansovih-poslug
“Tsyfrovi finansy yak osnova vidnovlennia ekonomiky Ukrainy: u Kyievi proishla konferentsiia Digital Lending“ [Digital Finance as the Basis of the Recovery of the Ukrainian Economy: The Digital Lending Conference Was Held in Kyiv]. fimtech insider. March 14, 2023. https://fintechinsider.com.ua/czyfrovi-finansy-yak-osnova-vidnovlennya-ekonomiky-ukrayiny-u-kyyevi-projshla-oflajn-konferencziya-digital-lending/
Kaffenberger, M., Totolo, E., and Soursourian, M. “A Digital Credit Revolution. Insights from Borrowers in Kenya and Tanzania“. 2018. https://www.cgap.org/sites/default/files/publications/Working-Paper-A-Digital-Credit-Revolution-Oct-2018.pdf
“Lyshe 14% ukrainskykh fintekhiv rozvyvaiut platizhni servisy ta perekazy“ [Only 14% of Ukrainian Fintechs Develop Payment Services and Transfers]. Finclub. June 19, 2023. https://finclub.net/ua/news/lyshe-14protsent-ukrainskykh-fintekhiv-rozvyvaiut-platizhni-servisy-ta-perekazy.html
Tovstyzhenko, A. “Analityky porakhuvaly kilkist bezrobitnykh v Ukraini ta padinnia dokhodiv naselennia u 2022 rotsi“ [Analysts Have Calculated the Number of Unemployed People in Ukraine and the Drop in Income of the Population in 2022]. Dzerkalo tyzhnia. December 30, 2022. https://zn.ua/ukr/ECONOMICS/analitiki-porakhuvali-kilkist-bezrobitnikh-v-ukrajini-ta-padinnja-dokhodiv-naselennja-u-2022-rotsi.html
“Digital Finance Package: Commission sets out new, ambitious approach to encourage responsible innovation to benefit consumers and businesses“. European Commission. https://ec.europa.eu/commission/presscorner/detail/en/IP_20_1684
“Communication from the Commission to the European Parliament, the Council, the European economic and social committee and the Committee of the regions on a Digital Finance Strategy for the EU“. Euro-Lex. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:52020DC0591
Kornivska, V. O. “Instytutsiini transformatsii u tsyfrovomu suspilstvi: vid informatsiinoi asymetrii do tsyfrovykh valiut tsentralnykh bankiv“ [Institutional Transformations in the Digital Society: From Information Asymmetry to Digital Currencies of Central Banks]. Ekonomichna teoriia, no. 2 (2023): 29-52. DOI: https://doi.org/10.15407/etet2023.02.029
Kornivska, V. O. “Svitovyi dosvid doslidzhennia i vprovadzhennia tsyfrovoi valiuty tsentralnoho banku: instytutsiinyi aspekt“ [Global Experience of Central Bank Digital Currency Research and Implementation: The Institutional Aspect]. Problemy ekonomiky, no. 1 (2023): 23-31. DOI: https://doi.org/10.32983/2222-0712-2023-1-23-31
Ree, J. “Nigeria's eNaira, One Year After“. IMF Working Paper No. 2023/104. May 16, 2023. https://www.imf.org/en/Publications/WP/Issues/2023/05/16/Nigerias-eNaira-One-Year-After-533487
“Akcija za vpis gotovine v Ustavo“. https://gotovina.info/
“Knocked down during lockdown: the return of cash. Quarterly Bulletin 2022 Q3“. Bank of England. https://www.bankofengland.co.uk/quarterly-bulletin/2022/2022-q3/knocked-down-during-lockdown-the-return-of-cash

FOR AUTHORS

License Contract

Conditions of Publication

Article Requirements

Regulations on Peer-Reviewing

Publication Contract

Current Issue

Frequently asked questions

INFORMATION

The Plan of Scientific Conferences

OUR PARTNERS

Journal «The Problems of Economy»

The site and its metadata are licensed under CC BY-SA.

Write to webmaster