Bìznes Inform (Apr 2022)
Staging the Development of the National Market of Investment Financial Services
Abstract
The article is aimed at studying the current state and prospects for the development of the national market of investment financial services. The article describes the market of investment financial services along with subject classification. The activities of intermediaries in the market of investment financial services as of the end of 2008 – 01.04.2022 in Ukraine are analyzed. Diagnostics of the state of development of the market of investment financial services is carried out on the basis of indicators of the authors’ own development, in particular the indicators of market capacity, market indicators, indicators of economic significance of the activities of intermediaries, macroeconomic indicators. A periodization of stages of development of the national market of investment financial services is made. The impact of the global financial and economic crisis of 2008–2010, political instability in 2014, coronavirus crisis of 2020–2021, and the Russian invasion in 2022 on the functioning of intermediaries in the investment financial services market are specified. The activity of foreign investors in the purchase of assets in Ukraine, including the value and number of M&A transactions, is researched. It is prognosticated that the Russian aggression in 2022 may have catastrophic consequences for Ukraine in general and for the investment financial services market in particular, which has long recovered from the negative consequences of previous crisis periods and has not fully come to life from the global financial and economic crisis of 2008–2010. It is concluded that the modern market of investment financial services is not public enough and has significant shortcomings in the coverage of relevant information by regulators – the National Bank of Ukraine and the National Securities and Stock Market Commission. The relevance of creation of statistical databases from regulators of the market of investment financial services is substantiated. The advantages and disadvantages of investing assets of intermediaries in the market of investment financial services in government bonds is identified. Perspective directions of development of the national market of investment financial services are proposed.
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