| Issue: | 2019 №1 (65) |
| Section: | Finances |
| UDK: | 336.71 |
| DOI: | https://doi.org/10.33271/ev/65.116 |
| Article language: | Ukrainian |
| Pages: | 116-125 |
| Title: | Institutionalization of credit mechanism of stimulating innovative development of Ukraine |
| Author: | Solianyk L. H., Dnipro University of Technology |
| Annotation: | The current state and trends in the development of bank lending to the real sector of the economy are highlighted as well as their impact on macroeconomic indicators of state development. The emphasis is put on imperfect infrastructure provision of investment activities in the Ukrainian economy and the indirect participation of the state in investment activities through regulation of the banking system, the stock market, and the conduct of monetary policy that does not satisfy the participants of the investment process. The subject of the study of the article is the processes of institutionalization of the credit mechanism for stimulating the innovation development of Ukraine. It has been determined that efficient functioning of the banking system and investment lending is possible only if an adequate institutional environment is available, provided by the main groups of institutions regulating the market of financing and business lending: institutions of state financial support, tax and legal institutions, etc. As a result of the simulation, multiple regression equations are obtained, which establish the relationship between volumes of investment lending and the volumes of deposits and financial results of enterprises and the dependence of the country's GDP on the volume of bank loans. This will allow supplementing the existing toolkit with an effective financial tool for managing bank resources, in particular, credit and deposit portfolios of banks. The work outlines specific systemic measures for reforming the banking sector in the direction of focusing on the priority lending of priority innovative activities of the national economy and the concentration of resources on the financial provision of priority areas of innovation activities. The directions of innovative development of the real economy sector in the context of improving the institutional mechanisms of bank lending in Ukraine in accordance with European standards are substantiated. The proposed measures to improve the lending system of innovative enterprises in Ukraine will promote the reform of the banking sector in the direction of targeting priority loans for priority innovative activities of the national economy and will allow the full use of the transmission mechanism of the banking system in implementing the current monetary and credit policy of the state. |
| Keywords: | Institutional environment, Investment crediting, Preferential taxation, Credit resources of commercial banks, Credit intensity of the economy, Central banking, Issuing channels |
| File of the article: | EV20191_116-125.pdf |
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