The World Practice of Restoring Confidence in the Financial Sector of a Country
Kryvych Y. M., Bosak I. L.

Kryvych, Yana M., and Bosak, Iryna L. (2020) “The World Practice of Restoring Confidence in the Financial Sector of a Country.” The Problems of Economy 2:24–29.
https://doi.org/10.32983/2222-0712-2020-2-24-29

Section: World economy and international relations

UDC 336.76

Abstract:
The aim of the work is a thorough consideration and analysis of the world practice of restoring confidence in financial markets after the crisis of 2008–2009, identification of the features of implementing anti-crisis measures aimed at restoring confidence in banks, in particular, central banks and the financial sector as a whole. The global financial and economic crisis has affected the development of the banking systems and the economies of many developed countries. The central banks of different countries had to adequately respond to threats of globalization processes. They tried to solve the existing problems as quickly as possible by implementing the anti-recessionary policy, in particular, aimed at restoring confidence in the financial sector of the country. Confidence in the banking system is a key element in the growth and development of the financial system and the economy of an individual country as a whole. In the research literature, the issue of the global financial and economic crisis is highlighted in a number of publications, which present a detailed consideration of the essence of the crisis, its consequences and also indicate certain directions for overcoming it. A large number of both foreign and domestic scientists studied the financial and economic crisis of 2007-2008. The practices of crisis management in developed countries were examined by G. Shamborovskyi, N. Kozii, S. Hasanov, A. Buryak. The monetary policy of European countries was investigated by T. Stechishyn, A. Ruda, S. Radchich. The analysis of these studies and publications shows the inconsistency of views on implementing the monetary policy during the crisis and restoring customer confidence after it.

Keywords: anti-recessionary policy, confidence support tools, guarantee of deposits, credit rate, restoration of confidence, unconventional monetary policy.

Fig.: 1. Tabl.: 1. Bibl.: 21.

Kryvych Yana M. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Finance, Banking and Insurance, Sumy State University (116 Kharkivska Str., Sumy, 40007, Ukraine)
Email: y.kryvych@uabs.sumdu.edu.ua
Bosak Iryna L. – Student, Sumy State University (116 Kharkivska Str., Sumy, 40007, Ukraine)
Email: irishcaboss2000@gmail.com

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