FEATURES OF THE IMPLEMENTATION OF MONETARY POLICY IN MODERN CONDITIONS

ABSTRACT

Gorobinska I.V., Ulianitska V.O. Features of the implementation of monetary policy in modern conditions. Visnyk of the National Transport University. Series «Economic sciences». Scientific and Technical Collection. - K.: NTU, 2021. - Issue 2 (49).

The article is devoted to the problem of forming an effective monetary policy in modern conditions.

The relevance of the chosen topic is explained by the fact that identifying the main directions of improving monetary policy and developing tools to improve its effectiveness is one of the most important tasks today, as insufficient effectiveness of proposed and implemented measures can lead to loss of purchasing power, rising inflation, deterioration activities of the banking sector and the threat of its crisis.

The object of research is monetary policy.

The purpose of the study is to develop measures to improve the effectiveness of monetary policy of Ukraine in modern conditions through the study of theoretical and practical aspects of the studied issues.

Research methods - the method of cognition, the method of system analysis, the method of analysis and synthesis, as well as the method of comparison.

The study highlights the main problems that remain unresolved, including: the presence of a significant shadow sector, currency risks, declining GDP growth, overvalued lending rates, lack of prerequisites for sustainable monetary policy in the future. According to the results of the study, a mechanism for the implementation of monetary policy has been developed, its constituent elements have been characterized and the main tasks have been identified, the implementation of which will increase the effectiveness of Ukraine's monetary policy. It is also proved that the implementation of Ukraine's modern monetary policy should take into account the experience of foreign countries that have achieved positive results in implementing their own monetary policy.

Conclusions - an effective monetary policy is the key to sustainable development of the banking system and ensuring a high level of confidence in it, it affects price stability, investment, savings, production development and prospects for the economy as a whole. Addressing the issue of ensuring effective monetary policy will stabilize the economic and financial development of the country.

KEY WORDS: MONETARY POLICY, MONETARY POLICY IMPLEMENTATION MECHANISM, MONETARY POLICY INSTRUMENTS.

REFERENCES

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AUTHOR

Gorobinska Iryna V., National Transport University, Senior Lecturer of the Department of Finance, Accounting and Audit, e-mail: irynavladuslavivna@gmail.com, tel. +380677822674, Ukraine, 01010, Kyiv, str. Omelyanovich-Pavlenka, 1, room 424, orcid.org/0000-0001-9670-7198.

Ulianitska Valeria О., National Transport University, student of the FT-III-1t group of the Faculty of Management, Logistics and Tourism, e-mail: ulianitskavaleriya@gmail.com, тел. +380962952207, Ukraine, 01010, Kyiv, str. Omelyanovich-Pavlenka, 1, orcid.org/0000-0002-0545-7996.

REVIEWER

Bazilyuk A.V., Ph.D., Economics (Dr.), Professor, National Transport University, Professor of Department of Finances, Account and Audit, Kyiv, Ukraine.

Bondarenko E.V., Ph.D., Economics (Dr.), Professor, CJSC «UKRAKADEMINVESTBUD», director, Kyiv, Ukraine.

Article language: Ukrainian

Open Access: http://publications.ntu.edu.ua/visnyk/49/032-040.pdf

Print date: 15.03.2021

Online publication date: 05.04.2021

 

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