Suchergebnisse

The article is based on the existing law doctrine of division of law into private and public. The author analyses the influence of the doctrine on the relationships that arise in the financial services markets. The author takes into account the results of researches conducted by domestic and foreign scholars, which were carried out in the field of law and economics. The author uses general scientific and special methods as those that form the basis of the work. The research substantiates that objectively the doctrine dividing law into private and public does not exist. Doctrine is the product of a sociocultural interpretation of the researcher's thinking process. At the same time, the doctrine is naturally refers to the structure of the financial market. The author analyses the internal mechanism of circulation of cash flows and settlements in the global financial market. This analysis is the empirical basis for the research and subsequent theoretical understanding. The author proves that the concept of separation of rights into private and public law is not a universal concept that is inherent in all countries. The doctrine is fundamental only in the countries with Romano-Germanic legal system. The idea of dividing law into private and public was not reflected at the doctrine level in the countries with Anglo-Saxon legal system. The problem of the substitution of concepts was enrooted directly in the very doctrine of law, which existed in Soviet times. It was connected with the absence of the concept of "private law" in the Soviet legal thinking. The idea of social justice changes beyond recognition in the direction of public law. The author focuses on the issue of how to ensure the sustainable development of the financial system and its main institutions (structures) using the theoretical concept of dividing law into private and public. The author emphasizes the need to take into account the diversity of legal understanding of the financial market as a social phenomenon. The research methodology should be as appropriate as possible to the research object. The idea of social justice should act as a regulator of mutual relations between members of society. Practical activity in the financial markets in the modern world tends to converge. Public law assumes the fulfilment of a social function. Therefore, the author comes to the conclusion that law is a means of reaching a compromise between members of society, provided that individual freedom is preserved and there is no need to oppose private law to public law. The author proves that European political and legal standards are built on such postulates, particularly concerning the field of calculations. Keywords: financial system, financial services markets, settlement relations, the doctrine of separation of rights into private and public.

In the period of crisis situation in the economy and socio-economic instability in Ukraine, the problem of the budget deficit is very acute. In recent years the state budget of Ukraine has faced such a big problem as the deficit, due to the excess of spending over income of the state budget. The purpose of writing this article is to research into existing problems of the deficit of the state budget of Ukraine, substantiate causal relationships in the system of insufficient funding of state activities and development of ways of its optimization. During the study we analyzed scientific papers by Ukrainian scientists and experts who explore the problem of the deficit of the state budget, legislative and government materials. We used the following general scientific methods: method of cognition, method of analysis, method of analysis and synthesis, as well as the method of comparison. The essence of the deficit of the budget system and the reasons of its occurrence in Ukraine was considered. Underlying causes of budget deficit in Ukraine are slump in production, decrease in the efficiency of functioning of industries and businesses, unreasoned socio–economic policies, which led to a decline in the volume of gross domestic product and national income. This naturally caused a decrease in the volume of financial resources in the state and reflected in the indicators of the budget in the form of long–term deficit. We defined the dependence of the budget deficit on the government debt. It is established that there is a close relationship between the size of the budget deficit and state debt. Budget deficit increases national debt, and rising debt, in turn, requires additional expenditures for its service and thereby increases the budget deficit. The links of budget deficit to the country's economy were identified. We discovered the consequences of raising interest rate, which, on the one hand, reduces investment attractiveness in the domestic market of the country, on the other hand increases the attractiveness of the foreign financial investments in the country. Significant currency flows lead to the growth of the debt and, as a result, the growth of the currency exchange rate, reduction in the net exports of goods and decreased indicators of investment activity. This reduction is the reason for reducing the level of labour productivity and real income in all of its forms that provokes a decrease in investor confidence, and hence, reduces foreign investment programs and increases the withdrawal of capital abroad. The ways of overcoming budget deficit were substantiated that are based on improving the taxation system, attracting personal savings of the population to the investment sphere, providing financial support to small and medium businesses, enhancing the responsibility of businesses, strengthening control over the payment of state money, reforming taxation system, improving normative and legal support of the budget process. The scientific novelty of the research lies in the establishment of causal relationships of budget deficits for the scientific substantiation of budget management in the period of the structural transformation of the economy. The practical result is to identify ways of reforming the budget system of Ukraine and its transition to the investment model. A promising direction for further research in this area is developing a model of the budget process on the basis of causal relationships, which is capable of detecting the risks of deficiency and minimizing their impact.

Modern transformation of the economic system of this country led to structural changes in the social environment. Movement of population and human resources inside and outside the country increased. The growth of the scale of international migration processes, their mixed impact on the development of the countries, qualitative transformation of the specified processes determine the importance of the study of demographic and employment dimension of the international migration processes in Ukraine, which is among the main donors of population. The aim of the work is to determine demographic and human dimension of international migration processes in Ukraine. To achieve the goal, we applied dialectical method of scientific knowledge, as well as general scientific and special methods of research. The current state of migration processes in the global economy was examined. It was determined that in the global migration system Ukraine happens to be the country of origin, of transit and arrival of migrants. We analyzed the regional structure of migration flows in the state. It was proved that in recent years the country continues to lose population as a result of emigration, and these losses are not offset by immigration from abroad. This leads to a rapid decrease of the population of Ukraine. In addition, we tackled the problem of emigration of highly skilled labour force out of the country while the main channels of immigration into the country were identified. One of these channels is educational migration because Ukraine is included into the top ten leaders in the international market of educational services. It was substantiated that the target guideline of the state migration policy of Ukraine should be keeping the country's intellectual potential, for which it is necessary to ensure the execution of the following tasks: provision of financial and material resources to the development of science and higher education; funding in full the salaries of teachers in higher education, research workers; development of programs to preserve intellectual potential of the country; development of a mechanism for stimulating research activities and training of qualified professionals. The scientific novelty of the obtained results is in the developing and clarifying theoretical and practical foundations of the research into the issues of demographic and employment dimension of international migration processes in Ukraine. The practical value of the research results is in the definition of the target guideline of the state migration policy of Ukraine, which should be the preservation of the intellectual potential of the country. The participation of Ukraine in the international migration of skilled people should include an evolutionary process of rapprochement with the scientific and technological environment, and this process requires coordinated actions of all branches of government and business, predetermining the need for further research in this direction.