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3 (31) 2017

Demography and social economy, 2017, 3(31):124-134
doi: https://doi.org/10.15407/dse2017.03.124
UDC 330.567.25:336.71

V.S. Zaiats
Ph.D (Economics), Senior Researcher
Ptoukha Institute for Demography and Social Studies of the National Academy of Sciences of Ukraine,
01032, Ukraine, Kyiv, blvd. Taras Shevchenko, 60
E-mail: zayac@idss.org.ua

Language: Ukrainian
Abstract: Transparency and legitimacy of the institutional environment in the country is a prerequisite of the formation of a reliable system of household savings. The system of institutional protection of household savings performs an important social function and is an integral part of the financial security of any country. Ukraine is only at the stage of forming a system of reliable institutional protection of household savings. Protecting the rights of consumers of financial services in the country requires acceleration of these processes in order to bring them in line with European norms and standards. Equally important is the stability of the banking market as one of the components of the global financial system because it provides the needs of all economical sectors, population in financial resources and services needed for economic growth and social development. In Ukraine, the crisis in the banking system and reducing the credibility of the institutional protection of citizens weakens savings and creates a kind of despair to attract these funds in institutional structures. Reforming the banking system, changing its structure or functions, as well as customer relationship policies can condition the expansion of the field of social conflicts and even create signs of financial instability. The solution of these problems becomes relevant in the context of general macroeconomic instability, significant fluctuations in exchange rates, unpredictable changes in investment flows, which forms new risks in the sphere of the circulation of savings and their transformation into an investment resource. In this regard, the article examined the specificity of modern institutional protection of savings of households in Ukraine in the context of reforming the banking system as one of the components of the global financial system and its integration into international markets and consolidation of capital. The problems that have arisen as a result of the deepening social and political instability and its impact on the formation, protection and investing savings; limitations and risks identified in this area, the possible directions of modernization of the institutional protection; the world experience are determined and generalized.
Key words: household savings, institutional protection, transformation process, banking, bank, financial instability.
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