The Latest Digital Financial Instruments: Essence and Prospects of Use in the Reconstruction of the Affected Territorial Communities of Ukraine
Koliada T. A., Prozorov Y. V.

Koliada, Tetiana A., and Prozorov, Yuriy V. (2024) “The Latest Digital Financial Instruments: Essence and Prospects of Use in the Reconstruction of the Affected Territorial Communities of Ukraine.” The Problems of Economy 2:247–253.
https://doi.org/10.32983/2222-0712-2024-2-247-253

Section: Finance and banking

UDC 336.132

Abstract:
The aim of the article is to reveal the essence and determine the prospects for attracting additional revenues to local budgets in the context of the development of creative industries and the use of the latest digital financial instruments for the reconstruction of the affected territorial communities of Ukraine in the post-war period. The article identifies the main creative forces of digital transformation of the economy, discloses the institutional essence of digital financial instruments, assesses the sources and preferential mechanisms for attracting financial resources for the reconstruction of the affected territorial communities in the post-war period, substantiates the role of local governments in the development of creative economy industries using the latest digital financial instruments. Based on the analysis of the impact of changes in the institutional structure of the space-time of the banking metaverse on the possibilities of financial support for the affected territorial communities, it is proved that the transformation of the metaverse is taking place from the quantitative growth of entertainment and distracting gaming technologies to qualitatively new creative socioeconomic dimensions, which are considered as a virtual integrated system associated with real life. It is proved that due to the combination of the properties of digital and financial instruments, the formation of the latest digital financial instruments takes place, which combine the characteristics of the previous ones, while being more effective in terms of the possibilities of their use, accessibility to the general public and profitability in the long run. Some forecast scenarios for the growth of the metaverse economy for the period up to 2032 have been developed. An estimate of the proportion and volume of the metaverse in the digital economy and global GDP for each of the scenarios is provided. It is emphasized that in modern conditions, the development of creative industries using the latest digital financial instruments is the most investment-attractive segment of investing assets in the medium and long term. Proposals on the need to apply stimulating norms of the current legislation to encourage representatives of local and foreign creative businesses to implement the latest digital solutions at the regional level in order to provide territorial communities with unique instant services for managing online funds of local budgets in hybrid space-time are substantiated. Prospect for further research in this direction is to update the normative framework for AI regulation in order to achieve a synergistic effect of innovation and singularity at the stage of reconstruction of the affected territorial communities of Ukraine in the post-war period.

Keywords: digital financial instruments, creative industries, green economy, local budgets, sustainable development, post-war reconstruction, territorial communities, metaverse.

Tabl.: 3. Bibl.: 15.

Koliada Tetiana A. – Candidate of Sciences (Economics), Senior Research Fellow, Associate Professor, Department of Public Finance, State Tax University (31 Universytetska Str., Irpin, Kyiv region, 08205, Ukraine)
Email: t.a.koliada@gmail.com
Prozorov Yuriy V. – Research Associate, Sector of Institutional Economics of the Department of Economic Theory, Institute for Economics and Forecasting of NAS of Ukraine (26 Panasa Myrnoho Str., Kyiv, 01011, Ukraine)
Email: yuriy.prozorov@gmail.com

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