Кафедра фінансів, економічних досліджень і туризму

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https://dspace.pdau.edu.ua/handle/123456789/5142

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Перегляд Кафедра фінансів, економічних досліджень і туризму за Автор "Kovalenko, V."

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  • Ескіз
    Публікація
    Blockchain Principles’ Integration into the Payment Security Architecture of the Financial System
    (2026) Kovalenko, V.; Sheludko, S.; Bezkrovnyi, O. V.; Безкровний, Олександр Валентинович; Doroshenko, O. O.; Doroshenko, A. P.; Дорошенко, Андрій Петрович; Дорошенко, Ольга Олександрівна; Borsa, V.
    The relevance of this study is driven by the rapid digitalisation of payment systems and the growing exposure of the financial system to cyber, operational, and AML/CFT-related risks, intensified by the expansion of non-cash transactions, the proliferation of crypto-assets, and the increasing involvement of state and non-state actors in illicit financial activities. These processes exacerbate vulnerabilities in payment security, particularly under conditions of geopolitical instability and hybrid threats. The aim of the study is to theoretically and empirically substantiate the principles of integrating blockchain technology into the architecture of payment security and the AML/CFT framework in order to mitigate emerging risks. The research methodology is based on a combination of systemic and descriptive analysis, systematisation and generalisation, statistical analysis, and economic-mathematical modelling. An autoregressive distributed lag (ARDL) model is employed to assess the impact of regulatory enforcement measures on banks’ due diligence in ensuring payment legitimacy, using data from the Ukrainian banking sector. The results demonstrate that payment security is closely dependent on the effectiveness of financial monitoring and regulatory oversight, with enforcement measures exerting a statistically significant short- and long-term effect on the intensity of suspicious transaction reporting. The study establishes that blockchain technology possesses substantial potential to enhance payment security by improving transaction transparency, strengthening AML/CFT controls, and increasing resilience to cyber threats, including those associated with the illicit use of crypto-assets. It is substantiated that the harmonisation of blockchain-based solutions with regulatory principles is a necessary condition for maintaining financial stability in an environment of accelerating digitalisation. Based on the findings, practical recommendations are formulated for integrating blockchain technology into payment security and financial monitoring systems, which may be of relevance for regulators, financial institutions, and policy-makers concerned with strengthening economic and payment security
  • Ескіз
    Публікація
    Monetary and fiscal coordination in ukraine and its impact on economic growth under the conditions of marital state
    (2024) Kovalenko, V.; Slatvinska, M.; Sheludko, S.; Bezkrovnyi, O. V.; Cherkashyna, K.; Безкровний, Олександр Валентинович
    The purpose of this paper is to examine the effectiveness of monetary and fiscal policy instruments, to determine the level of influence of monetary and fiscal factors on economic growth, as well as to justify ways for improving the effectiveness of monetary and fiscal policy coordination. Insufficient coordination of monetary and fiscal policies entails devastating economic consequences. The critical analysis of scientific publications proved that today the coordination of monetary and fiscal policies depends on the degree of balanced regulation of interest rates and inflation control. The research uses a NARDL model to capture mainstream trends in the influence of monetary and fiscal factors, as well as in the empirical study of their coordination. According to the estimations it was established that the weighted average rate of NBU instruments is absorbed to a greater extent in the monetary component of coordination, the system of managing the internal public debt – in the fiscal component. The participation of monetary authorities in the management of the national internal debt remains a debatable issue today. It is proved that the process of coordination of monetary and fiscal policies is influenced by the state of Ukraine’s economy during the war. Despite the difficult political and economic situation in Ukraine, it is necessary to focus on improving the coordination of monetary and fiscal policies. In particular, the significant contribution of the NBU in financing the state budget deficit due to their purchase of government bonds needs to be resolved. Strengthening the role of macroprudential policy in the coordination of monetary and fiscal policies, one of the goals of which is to counter the emergence of a systemic crisis; formation of a clearly developed coordination strategy, which would be based on clearly defined goals, set tasks on the basis of selected methods and instruments for their achievement