GLOBAL MODELS OF STATE REGULATION OF THE BANKING SECTOR
Abstract
The study and systematization of foreign experience in the organization of the functioning of the banking system, the study of the role of the state in this process, the determination of the best practices that can be applied in Ukraine, is an actual direction of scientific research.
The main criterion for the classification of models of state regulation of the banking sector is the degree of state intervention in banking activity. Based on the analysis of research on approaches to the classification of models of state regulation of the banking sector and considering the most widespread practices in the countries of the world, it is proposed to distinguish liberal, European, American, mixed, transitional, and Islamic models of state regulation of the banking sector. The main characteristics of the models were systematized and the possibilities of their application in Ukraine were assessed.
It was determined that, considering the need to maintain stability and avoid risks, the European model is more appropriate for the conditions of Ukraine. An active role of the state in regulation can help prevent financial crises and ensure the reliability of banks. A mixed model, which allows combining elements of different models, can help create a flexible regulatory framework that considers the unique aspects of the Ukrainian economy and financial system. Under martial law, a transition model characterized by strong state intervention to stimulate development and financial inclusion is the most appropriate.
The study analyzed the degree of suitability of the proposed models in wartime conditions in terms of the priority tasks of the state regarding the regulation of the banking sector in wartime conditions, namely ensuring stability and reliability, efficiency, and flexibility, stimulating the economy and recovery, minimizing risks, and protecting the financial interests of citizens.
The theoretical justification of the role and functions of the central bank in the system of state regulation of the banking sector, as well as the development of mechanisms for increasing its efficiency in the conditions of martial law, may be the direction of further scientific research.
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