Application of the national banking sector for modernization of the economic area of Ukraine

• Main Author: Maryna Shuba
• Format: Article
• Language: English
• Published: V. N. Karazin Kharkiv National University 2017-12-01
• Series: Вісник Харківського національного університету імені В.Н. Каразіна: Серія Міжнародні відносини, економіка, країнознавство, туризм
• Online Access: https://periodicals.karazin.ua/irtb/article/view/10017/9540

Ukraine gradually integrates into the world economy, so the world globalization processes affect its economy, including the banking sector as one of the most important elements of the financial system of the country. Determination of possible application of the banking sector can help to conduct state policy in the field of modernization of the economic area of Ukraine. The article represents the possibility of application of the banking sector for the modernization of Ukrainian economic area. The article concludes is that the banking sector by converting domestic savings into investments efficient allocation of resources involved in financial turnover implementation of the social functions of the state through the mechanisms of mortgage and consumer lending and providing financial independence as components of national sovereignty (national security), will contribute to the modernization of the Ukrainian economic area.