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The Role, Features and Directions of the Financial Architecture of the National Economy
Melnyk V. M., Zhytar M. O.

Melnyk, Victor M., and Zhytar, Maksym O. (2019) “The Role, Features and Directions of the Financial Architecture of the National Economy.” Business Inform 8:175–181.
https://doi.org/10.32983/2222-4459-2019-8-175-181

Section: Finance, Money Circulation and Credit

UDC 338.763

Abstract:
The article is aimed at defining the role, features and directions of the financial architecture of the national economy. It is defined that formation of a financial architecture is a system of subordinate movements of its individual structural components at the appropriate levels of the hierarchy. The systemic nature of financial development is combined with the structuredness of the very process of financial architecture development. It is proved that the development of a particular financial architecture can take place on an independent basis or by borrowing the relevant institutions, which belong in higher stages of development. As a result, the specific features are defined as multi-tieredness, divergemivity, fractality, phasing, micro- and macro-dynamics. The essential characteristics that reflect the processes of change and act as logical «operators» in the research of financial development are suggested, i.e.: functional aspect of the development of financial architecture (development of functions as financial systems and financial institutions alike); structural and organizational aspect (features of composition and construction of financial architecture, interaction of its elements, financial structure); institutional aspect (formation and development of the institutional environment in which financial architecture is formed and operated); directedness of financial development; historicalism of financial development (evolution, its change in dynamics).

Keywords: financial architecture, national economy, financial system, financial institutions, hierarchy.

Bibl.: 20.

Melnyk Victor M. – Doctor of Sciences (Economics), Professor, Professor, Department of Finance, Kyiv National Economic University named after Vadym Hetman (54/1 Beresteiskyi Ave., Kyiv, 03057, Ukraine)
Email: [email protected]
Zhytar Maksym O. – Doctor of Sciences (Economics), Associate Professor, Deputy Director, Educational and Scientific Institute of Finance, Banking of the University of the State Fiscal Service of Ukraine (Bldg B, 31 Universytetska Str., Irpіn, Kyiv region, 08201, Ukraine)
Email: [email protected]

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