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The peculiarities of the financial market development in Ukraine

Shkolnyk, Inna and Kozmenko, Olha (2008): The peculiarities of the financial market development in Ukraine. Published in: Investment Management and Financial Innovations , Vol. 5, No. 1 (5 May 2008): pp. 104-112.

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Abstract

This paper addresses the condition of savings and investments enviroment in the world economy and in particular regions. As a result of financial globalization there were formed promissory economies in a number of countries including the economically developed ones. It is necessary to investigate peculiarities of the financial market development in Ukraine comparing it to the countries with the same conditions of market growth, particularly, it is useful to compare the Ukrainian financial market, first of all, to the markets of approximately the same capitalization volume and, second, to the newly formed markets, especially in the countries of the former "socialist camp". In the paper the Ukrainian financial market was analyzed comparing it to the countries with so called “frontier markets” (small and non-liquid to be treated as developing markets, or the least developed ones among the above mentioned markets). The authors investigated the correlation dependence between the market capitalization indices of the countries with the frontier markets, such as Romania, Croatia, Slovenia, Bulgaria, Lithuania, Estonia, and Latvia. The growth rates of the market capitalization volume in the said countries and the index-number of the market capitalization share of the GDP were analyzed. On the basis of the performed investigation there were given the main recommendations as for strengthening the role of the Ukrainian financial market in the process of forming the competitive economy of the country.

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