Actual problems of innovative economy and law

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Monetary levers of support and development of Ukraine’s economy in the current conditions

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УДК: 336.71

DOI: https://doi.org/10.36887/2524-0455-2024-5-24

Holubkin Serhii,
PhD Student,
State Biotechnological University,
https://orcid.org/0009-0002-7673-4943

In the modern conditions of the development of financial, socio-economic, socio-political, military, and humanitarian problems, there is a need to apply adequate anti-crisis measures that would help to avoid or mitigate adverse effects for further development. Therefore, the primary mechanism for implementing measures to influence the economy is the monetary sphere, and the banking sector forms its leading link in spreading impulses of influence on real production, countering crises, forming financial stability, and the efficiency of the functioning of the national economy. Choosing the most effective monetary levers of support and stimulating the development of the economy should become the primary means of mitigating the adverse effects of the economic crisis. Monetary support from the banking sector aims to bring the national economy to sustainable growth. The publication aims to analyze modern socio-economic development, assess factors that influence it, and justify scientific-practical and conceptual approaches to monetary levers in supporting and stimulating domestic economic development. The article examines issues related to monetary levers that can be used to support and develop the country’s economy. It is noted that the banking system can become a key tool for achieving economic growth and employment of the population. The essence of the directions of monetary theory is defined, the characteristics of the modern socio-economic development of Ukraine in the dynamics of indicators for 2010-2022 are given, and the influence of military actions is investigated. It is noted that monetary instruments can stimulate or restrain economic growth. The instruments of monetary policy are substantiated, the policy priorities of foreign central banks are investigated, and the directions of monetary policy of foreign countries that can be involved in supporting and developing the national economy are determined. The monetary policy system is one of the most important spheres of state regulation for the economic growth and development of the country. Having overcome various stages of evolution by the historical development of the world economy, it includes several of the most modern financial instruments of state intervention in the economy: money supply, interest rate, “domestic preferences,” targeted monetary interventions, banks with state participation. These tools in a complex make it possible to respond to changes in the internal and external environment as effectively as possible.

Keywords: central bank, monetary policy, monetary instruments, macroeconomic development, banking system.

References.

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The article was received 08.08.2024

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Holubkin S. 08.08.2024. Monetary levers of support and development of Ukraine’s economy in the current conditions. Actual problems of innovative economy and law. 2024. №5. 124-128 pp. https://doi.org/10.36887/2524-0455-2024-5-24

Quote article, MLA style

Holubkin S. Monetary levers of support and development of Ukraine’s economy in the current conditions. Actual problems of innovative economy and law. 08.08.2024. https://doi.org/10.36887/2524-0455-2024-5-24