Instituto de Estudios Políticos y Derecho Público "Dr. Humberto J. La Roche"
de la Facultad de Ciencias Jurídicas y Políticas de la Universidad del Zulia
Maracaibo, Venezuela
Publicación cientíca en formato digital
ISSN-Versión Impresa 0798-1406 / ISSN-Versión on line 2542-3185
Depósito legal pp 197402ZU34
ppi 201502ZU4645
Vol.40 N° 75
2022
Recibido el 03/10/2022 Acpetado el 26/11/2022
ISSN 0798- 1406 ~ De pó si to le gal pp 198502ZU132
Cues tio nes Po lí ti cas
La re vis ta Cues tio nes Po lí ti cas, es una pu bli ca ción aus pi cia da por el Ins ti tu to
de Es tu dios Po lí ti cos y De re cho Pú bli co “Dr. Hum ber to J. La Ro che” (IEPDP) de la Fa-
cul tad de Cien cias Ju rí di cas y Po lí ti cas de la Uni ver si dad del Zu lia.
En tre sus ob je ti vos fi gu ran: con tri buir con el pro gre so cien tí fi co de las Cien cias
Hu ma nas y So cia les, a tra vés de la di vul ga ción de los re sul ta dos lo gra dos por sus in ves-
ti ga do res; es ti mu lar la in ves ti ga ción en es tas áreas del sa ber; y pro pi ciar la pre sen ta-
ción, dis cu sión y con fron ta ción de las ideas y avan ces cien tí fi cos con com pro mi so so cial.
Cues tio nes Po lí ti cas apa re ce dos ve ces al año y pu bli ca tra ba jos ori gi na les con
avan ces o re sul ta dos de in ves ti ga ción en las áreas de Cien cia Po lí ti ca y De re cho Pú bli-
co, los cua les son so me ti dos a la con si de ra ción de ár bi tros ca li fi ca dos.
ESTA PU BLI CA CIÓN APA RE CE RE SE ÑA DA, EN TRE OTROS ÍN DI CES, EN
:
Re vicyhLUZ, In ter na tio nal Po li ti cal Scien ce Abs tracts, Re vis ta In ter ame ri ca na de
Bi blio gra fía, en el Cen tro La ti no ame ri ca no para el De sa rrol lo (CLAD), en Bi blio-
gra fía So cio Eco nó mi ca de Ve ne zue la de RE DIN SE, In ter na tio nal Bi blio graphy of
Po li ti cal Scien ce, Re vencyt, His pa nic Ame ri can Pe rio di cals In dex/HAPI), Ul ri ch’s
Pe rio di cals Di rec tory, EBS CO. Se en cuen tra acre di ta da al Re gis tro de Pu bli ca cio-
nes Cien tí fi cas y Tec no ló gi cas Ve ne zo la nas del FO NA CIT, La tin dex.
Di rec to ra
L
OIRALITH
M. C
HIRINOS
P
ORTILLO
Co mi té Edi tor
Eduviges Morales Villalobos
Fabiola Tavares Duarte
Ma ría Eu ge nia Soto Hernández
Nila Leal González
Carmen Pérez Baralt
Co mi té Ase sor
Pedro Bracho Grand
J. M. Del ga do Ocan do
José Ce rra da
Ri car do Com bel las
An gel Lom bar di
Die ter Nohlen
Al fre do Ra mos Ji mé nez
Go ran Ther born
Frie drich Welsch
Asis ten tes Ad mi nis tra ti vos
Joan López Urdaneta y Nil da Ma rín
Re vis ta Cues tio nes Po lí ti cas. Av. Gua ji ra. Uni ver si dad del Zu lia. Nú cleo Hu ma nís ti co. Fa-
cul tad de Cien cias Ju rí di cas y Po lí ti cas. Ins ti tu to de Es tu dios Po lí ti cos y De re cho Pú bli co
“Dr. Hum ber to J. La Ro che”. Ma ra cai bo, Ve ne zue la. E- mail: cues tio nes po li ti cas@gmail.
com ~ loi chi ri nos por til lo@gmail.com. Te le fax: 58- 0261- 4127018.
Vol. 40, Nº 75 (2022), 64-78
IEPDP-Facultad de Ciencias Jurídicas y Políticas - LUZ
Regulatory policy and institutional
transformation of the banking system of
Ukraine in the conditions of digitalization
DOI: https://doi.org/10.46398/cuestpol.4075.03
Denis Shcherbatykh *
Ruslan Tseben **
Nataliia Valkova ***
Svitlana Jereleiko ****
Pavlo Nagorny *****
Abstract
The transformation of the banking system is due to modern
global trends and digitalization processes, which contribute to
increasing the eciency of the banking system operation and
its competitiveness. The object of this study is the analysis of
regulatory policy and justication of the foundations of institutional
transformation of the banking sector in the conditions of digitalization. The
conducted research made it possible to analyze the regulatory policy and
establish the rationale for the institutional transformation of the banking
sector in the conditions of digitalization in order to increase the eciency
of its activities and competitiveness, which means: putting the banking
system on track to merge with the global nancial system; transformation
of the functioning of the National Bank of Ukraine in the direction
of creating economically adaptable functions and, at the same time,
implementing behavioral mechanisms of inuence on banking institutions;
implementation of methods of preventive rehabilitation of troubled banks;
increasing the stabilization of the banking system due to strengthening the
role of private banks; expansion of the functions of the Deposit Guarantee
* Candidate of Economic Sciences, Department of Economics, Finance, Accounting and Audit, Cherkasy
Branch of Private Higher Educational Establishments "European University", 83, Smilynska Str.,
Cherkasy, 18008, Ukraine. ORCID ID: https://orcid.org/0000-0001-5314-1884
** Candidate of Economic Sciences, Associate Professor, Department of Accounting, Auditing and
Taxation, Khmelnytskyi National University, 11, Instytuts'ka Str., Khmelnytskyi, 29016, Ukraine.
ORCID ID: https://orcid.org/0000-0003-4202-9779
*** Candidate of Economic Sciences, Associate Professor, Department of Accounting, Auditing and
Taxation, Khmelnytskyi National University, 11, Instytuts'ka Str., Khmelnytskyi, 29016, Ukraine.
ORCID ID: https://orcid.org/0000-0003-1013-5032
**** Candidate of Economic Sciences, Associate Professor, Department of Finanse, Accounting and Audit,
Khmelnytskyi Cooperative Trade and Economic Institute, 3, Kamianetska Str., Khmelnytskyi, 29011,
Ukraine. ORCID ID: https://orcid.org/0000-0002-4018-2481
***** PhD in Technical Sciences, Associate Professor, Department of Finanse, Accounting and Audit,
Khmelnytskyi Cooperative Trade and Economic Institute, 3, Kamianetska Str., Khmelnytskyi, 29011,
Ukraine. ORCID ID: https://orcid.org/0000-0002-3569-2313
65
CUESTIONES POLÍTICAS
Vol. 40 Nº 75 (2022): 64-78
Fund of individuals, and; implementation of digital technologies in the
activities of banking sector entities.
Keywords: regulatory policy; institutional development; institutional
transformation; banking institutions; digitalization and
information technologies.
Política regulatoria y transformación institucional
del sistema bancario de Ucrania en las condiciones de
digitalización
Resumen
La transformación del sistema bancario se debe a las modernas
tendencias globales y a los procesos de digitalización, que contribuyen
a incrementar la eciencia del funcionamiento del sistema bancario y
su competitividad. El objeto de este estudio es el análisis de la política
regulatoria y la justicación de los fundamentos de la transformación
institucional del sector bancario en las condiciones de la digitalización. La
investigación realizada permitió analizar la política regulatoria y establecer
los fundamentos de la transformación institucional del sector bancario en
las condiciones de la digitalización para incrementar la eciencia de sus
actividades y la competitividad, lo que signica: encaminar el sistema
bancario a fusionarse con el sistema nanciero mundial; transformación
del funcionamiento del Banco Nacional de Ucrania en la dirección de
crear funciones económicamente adaptables y, al mismo tiempo, aplicar
mecanismos conductuales de inuencia en las instituciones bancarias;
aplicación de métodos de rehabilitación preventiva de bancos en problemas;
aumentar la estabilización del sistema bancario debido al fortalecimiento
del papel de los bancos privados; ampliación de las funciones del Fondo de
Garantía de Depósitos de particulares, e; implementación de tecnologías
digitales en las actividades de las entidades del sector bancario.
Palabras clave: política regulatoria; desarrollo institucional;
transformación institucional; instituciones bancarias;
digitalización y tecnologías de la información.
Introduction
The development of the banking system directly depends on the
functioning of its institutions, which perform appropriate functions, have
66
Denis Shcherbatykh, Ruslan Tseben, Nataliia Valkova, Svitlana Jereleiko y Pavlo Nagorny
Regulatory policy and institutional transformation of the banking system of Ukraine in the
conditions of digitalization
certain powers, determine the rules of behavior of the banking sector and
determine the institutional structure of the banking system as a whole.
And the unconditional inuence on the development of the banking
system is exerted by state authorities, which determine the direction
of its development and transformation. The country’s banking system
is an integral part of the nancial and economic system, its institutional
development determines the role and place of the banking sector in the
development of the real sector of the economy.
In connection with the inuence of the banking system on the real
sector of the economy, there is a need to transform the banking sector in
the direction of increasing its eciency and competitiveness, which will
have a positive impact on the real sector of the country’s economy. This and
other factors determine the relevance of scientic research in the context
of the institutional transformation of the banking system in the modern
conditions of economic development and globalization trends.
The purpose of this study is the analysis of regulatory policy and
justication of the foundations of the institutional transformation of the
banking sector in the conditions of digitalization in order to increase the
eciency of its activities and competitiveness.
1. Literature Review
The institutional transformation of the banking system of Ukraine is
an extremely important and urgent issue. This issue has become especially
relevant with the active development of digitalization processes. Let’s
consider the research of foreign and domestic scientists who devoted their
scientic works to the indicated direction of scientic works.
Within the framework of the research of scientists (ByMarcin, 2021), the
consequences for the Polish banking institutional system in the context of
the nancial and economic crisis in the EU were considered. The authors
of article (Canh et al., 2021) proposed an empirical study of the inuence
of institutional quality on the risk of the banking system and credit risk.
Researchers have found that better institutional quality helps reduce
banking system risks in a highly concentrated banking system.
It was also established that better institutional quality increases the
negative impact of the inow of foreign direct investment both on the
risk of the banking system and on credit risk. The paper (Arias et al.,
2020) examines how the legal and institutional environment aects the
eectiveness of the banking system. Scientists use panel data and control
indicators of nancial and economic development. As a result of the study,
the authors found evidence of several interrelationships related to the
eciency of the banking system.
67
CUESTIONES POLÍTICAS
Vol. 40 Nº 75 (2022): 64-78
Scientists (Tresierra and Reyes, 2018) have determined whether the
quality of national institutions and banking development determine the
term of debt repayment depending on the short-term or long-term horizon.
Indicators of the quality of national institutions and banking development
were obtained by the authors from World Bank data and included factor
analysis for dynamic considerations. The results of the authors’ research,
obtained by processing the indicated indicators, factor analysis and further
evaluation of the dynamic econometric model, show that institutional quality
contributes to the repayment of long-term debt, and the development of the
banking sector contributes to short-term nancial development.
The study of the authors (Fedyshyn et al., 2019; Kosach et al., 2019)
reveals the peculiarities of managing the competitiveness of banking
services and the role of commission income in the formation of the income
of a commercial bank. Scientic work (13) reveals the world experience
of introducing modern innovations and information technologies in the
functioning of nancial institutions.
As a result of the research (Liao, 2017), the eciency of China’s
domestic banking system was evaluated. The article focuses on analyzing
the powers that China may have in choosing possible measures to ensure
the stability and development of its domestic banks in accordance with the
principles contained in the General Agreement on Trade in Services of the
World Trade Organization. In the study (Castro-Nagatomy et al., 2022), the
authors proposed changes that digitization of processes oers to companies
and the environment.
In conclusion, the authors conclude that change management and
management of the organization and infrastructure of banks are necessary
for the transformation of physical processes into digital ones. Within the
articles of scientists (Kychko et al., 2021; Areeva et al., 2021; Derhaliuk
et al., 2021) the impact of digitalization on changing forms of employment
and the labor market, the system of economic security in the conditions of
the transformation of power, as well as the state policy of transformation of
the potential-creating space was investigated.
The authors (Mamadiyarov et al., 2021) researched that the
coronavirus crisis actualized the need to accelerate the introduction of
innovative technologies into the banking and nancial system. Scientists
are investigating the expansion of sources of non-bank nancing, the
improvement of nancial literacy of the population, as well as the
development of more transparent mechanisms of social support for the
needy. Scientists are convinced of the importance of transforming banking
services in Uzbekistan in the context of the COVID-19 pandemic.
The research (Elisabeth and Hareesh, 2020) states that the digital
revolution has signicantly changed the business environment, with
68
Denis Shcherbatykh, Ruslan Tseben, Nataliia Valkova, Svitlana Jereleiko y Pavlo Nagorny
Regulatory policy and institutional transformation of the banking system of Ukraine in the
conditions of digitalization
most banks recognizing the importance of new technologies to improve
productivity and customer satisfaction. The authors assessed the impact
of these transformations on the eciency of nancial institutions and their
business model.
Within the framework of scientic works (Grosu et al., 2021;
Zhavoronok et al., 2022), the regulatory policy was analyzed and the
nancial management model was conceptualized in Romanian agriculture.
The research (Dubyna et al., 2022; Tarasenko et al., 2022) is based on
the study of the transformation of regional models of household nancial
behavior, the analysis of household deposit behavior and the peculiarities
of its formation in the conditions of the rapid development of the nancial
services market. The papers of scientists (Lyeonow et al., 2022; Savin et al.,
2021) are devoted to the creation of screen forms for users of the automated
information system of nancial monitoring of economic development and
economic growth.
The study (Castillo-Carmelino et al., 2020) found that paper
consumption in Peru has increased in recent years due to constant demand
from companies. The authors determined that approximately 90% of all
nancial institutions still maintain a traditional paper-based system,
including printing, storing, and requesting physical account opening
documentation. Considering the above, in order to reduce the number
of physical documents being processed, the authors propose a four-stage
digitization model.
The authors of the article (Bratu and Petria, 2018) conrm the relevance
of the processes of digitalization of the nancial system, especially the
banking system in Romania. Scientists are investigating the readiness
of future generations of Romania to fully integrate into the process of
digitalization of banking, and also analyze the usefulness and advantages
of digital banking services.
Despite the signicant number of publications on this topic, the study
of the institutional transformation of the banking system of Ukraine in the
conditions of digitalization remains an urgent issue that requires further
research.
2. Results
The functioning of the banking system of Ukraine is in a state of
institutional changes, interaction with the real sector of the economy
depends on its transformation.
The institutional structure of the banking system includes not only the
direct subjects of banking institutions, but also institutions of inuence and
69
CUESTIONES POLÍTICAS
Vol. 40 Nº 75 (2022): 64-78
supporting institutions that organize these relations. The main regulatory
body of the banking system of Ukraine is the National Bank of Ukraine, as
well as the Individual Deposit Guarantee Fund, which closely interacts with
the National Bank (Fig. 1).
Figure. No. 1. Institutional structure and shortcomings of the functioning of the
banking system of Ukraine.
Source: constructed by the authors of the study.
The Deposit Guarantee Fund of Individuals, in accordance with the
policy of the National Bank of Ukraine, works to remove from the market
insolvent banking institutions that do not meet the liquidity requirements
of banks and have lost their own capital. Also, in addition to banking
institutions, the institutional structure of the banking sector is represented
by the banking infrastructure, which is represented by institutions that
provide information, technical, technological, methodical, security and
70
Denis Shcherbatykh, Ruslan Tseben, Nataliia Valkova, Svitlana Jereleiko y Pavlo Nagorny
Regulatory policy and institutional transformation of the banking system of Ukraine in the
conditions of digitalization
personnel support of the banking sector for its eective and trouble-free
functioning.
Despite the extensiveness of the banking infrastructure, the main
institution of the banking system is the National Bank of Ukraine, which
implements the policy and creates the necessary conditions for the
functioning of the banking sector.
It should be noted that according to the international index of
political and economic stability, the GMT-index, which characterizes the
independence of central banks, the National Bank of Ukraine has 11 points
out of 16 recommended. Such positions require the transformation of the
functioning of the National Bank of Ukraine in the direction of creating
economically adaptive functions that are able to respond more quickly to
changes in the surrounding environment.
Before the National Bank of Ukraine, there is a need to transform
the institutional environment in the direction of applying behavioral
mechanisms of inuence on banking institutions for the purpose of their
development. Gradual changes in the behavior of banking institutions in
the market of the banking sector should ensure their stable functioning in
accordance with the macroeconomic situation in the country and contribute
to the development of the real sector of the economy.
To date, the banking system of Ukraine is extensive and functioning,
but it is not without signicant shortcomings that need to be leveled. Such
negative signs of the functioning of the banking system of Ukraine include:
• The reduction of banking institutions (in the last decades, the
reduction occurred twice), which negatively aects the competition
of the banking sector and leads to disproportions in the structure
of the national banking system. Such disproportions are observed
between banks of dierent sizes depending on their capital and
among banks of dierent forms of ownership.
• A signicant reduction in bank branch oces, which worsens the
conditions of competition in the banking sector market as it reduces
the level of customer accessibility to the banking product, as bank
branch oces are the main centers for selling banking services and
the so-called prot centers for banking institutions. In Ukraine,
there is a directly proportional dependence and negative dynamics
regarding the number of banking institutions, as well as structural
subdivisions of banks.
• A decrease in the share of domestic private banking institutions in
relation to banking institutions with a large share of foreign capital,
this carries an additional threat taking into account the share of
foreign capital from the Russian Federation, which is unacceptable
71
CUESTIONES POLÍTICAS
Vol. 40 Nº 75 (2022): 64-78
given today’s military actions by this state on the territory of
Ukraine. The tendency to reduce banking institutions is observed
at the expense of both large and small banks due to high risks,
low-quality loan portfolios, signicant amounts of bank lending to
related parties, which in aggregate leads to bank bankruptcy.
• An increase in the share of state ownership in the banking sector,
caused by forced nationalization and a decrease in the share of
private capital in the banking sector of Ukraine. According to
statistical data, it can be observed that the key players in the market
of banking institutions are banks with foreign capital, which have
the largest share in total capital, and banks with state participation,
which have the largest share in total assets. At the same time, the
experience of European countries proves that the main driver of the
development of the real sector of the economy is private banks with
foreign capital. However, it should be noted that the growth of state
participation in bank capital has a number of advantages, which
should include: the implementation of state economic policy and
providing an impetus for the development of other areas of economic
activity, simplifying the implementation of the stabilization policy
of the national bank; increasing public condence, which leads to
increased stability of the banking sector.
• Negative dynamics of bank assets and credit portfolio of banking
institutions, which inhibits the development of the real sector of the
economy.
• Signicant deterioration of the quality characteristics of «working»
loans, which increases the riskiness of the banking sector.
• The direction of active banking operations of commercial banks in
the direction of lending to the National Bank of Ukraine and the
decit of the state budget, which, in turn, further increases the
decit of credit funds in relation to the real sector of the economy.
• Active emission coverage of the state budget decit (especially
with the start of hostilities on the territory of Ukraine as a result
of the aggression of the Russian Federation) due to the purchase
of domestic state loan bonds in the portfolio of the National Bank
of Ukraine, which negatively aects price dynamics in the country.
• High variability of deposits of the population, which recently
illustrates negative trends and hinders the accumulation of bank
assets, which demonstrates the low trust of the banking system on
the part of the country’s population.
• Prolonged unprotability of the banking sector as a result of the
forced increase in costs for the formation of insurance reserves
72
Denis Shcherbatykh, Ruslan Tseben, Nataliia Valkova, Svitlana Jereleiko y Pavlo Nagorny
Regulatory policy and institutional transformation of the banking system of Ukraine in the
conditions of digitalization
for problem assets. The income structure of the banking sector
demonstrates the eectiveness of the country’s economic system as
a whole, in this case negative trends are reected.
• A high level of dollarization of deposit and credit portfolios of
banking institutions, which increases the riskiness of the functioning
of the national banking system.
The listed shortcomings require institutional transformation of the
banking system of Ukraine, since the banking system is in a state of crisis
and has negative dynamic qualitative and quantitative indicators. The
banking system has a signicant role in ensuring the economic security
of the country and should be aimed at protecting national interests and
ensuring the stability of the banking system to ensure the functioning of the
real sector of the economy.
Digitization of economic processes directly aects the functioning and
development of the banking system. The transformation of the country’s
banking system is aimed at merging with the global nancial system and
at the same time is aimed at increasing its own competitiveness. The
competitiveness of the national banking system cannot be ensured without
the use of modern information technologies.
The implementation of digital technologies in the activities of banking
sector entities makes it possible to increase their competitiveness thanks to
(Fig. 2):
• establishing a closer relationship with the client audience;
• faster training and improvement of sta qualications;
• creating databases and saving information;
• implementation of various computer and mobile applications for
more convenient use of banking services;
• improvement of business processes and implementation of new,
more eective ones using the latest information technologies.
Internet banking is one of the modern trends in the implementation of
modern information technologies, which provides:
• instant client access to information about the state of their own
bank accounts, transaction tracking;
• exchange of documents between the bank and the client in electronic
format, which reduces time spent by employees;
• reduction of banks’ costs for customer service and improvement of
the quality of customer service.
73
CUESTIONES POLÍTICAS
Vol. 40 Nº 75 (2022): 64-78
Figure No. 2. Directions of regulatory policy and institutional transformation
of the banking system of Ukraine in conditions of digitalization.
Source: developed by the authors.
Institutional transformation requires the reorganization of the
functioning of the National Bank of Ukraine due to reforms aimed at
increasing its eciency due to the implementation of world experience in
the creation of economically adaptive functions that are able to respond
more quickly to changes in the environment through the use of information
technologies, as well as the use of methods of preventive recovery of
74
Denis Shcherbatykh, Ruslan Tseben, Nataliia Valkova, Svitlana Jereleiko y Pavlo Nagorny
Regulatory policy and institutional transformation of the banking system of Ukraine in the
conditions of digitalization
problem banks to make them impossible bankruptcy and weakening of the
institutional structure of the banking system, as well as timely identication
and prevention of lending to related parties, which will contribute to the
reduction of non-performing loan portfolios.
In the direction of the transformation of the institutional support
for the development of the banking system in Ukraine, it is necessary to
expand the functions of the Deposit Guarantee Fund of individuals in the
direction of guaranteeing the deposits of not only individuals, but also legal
entities, as well as the deposits of communities and nancial institutions
such as pension and insurance funds, and small enterprises and non-prot
organizations Expanding the deposit guarantee system to include non-
prot organizations, small businesses, pension and insurance funds will
contribute to the activation of deposit activities.
Also, the institutional transformation of the banking system of Ukraine
should be aimed at increasing the stabilization of the banking system by
strengthening the role of private banks. The presence and active activity of
banking institutions with private capital contributes to the development of
market relations in the banking sector and at the same time corresponds to
national interests. The implementation of an active credit policy by private
banking institutions contributes to the growth of prices for ordinary capital,
which leads to an increase in the value of companies. Also, the process of
banking intermediation within the national economy is strengthened by
ensuring the necessary ow of money to service other spheres of economic
activity.
Elimination of corruption in banking institutions, prevention of abuse,
attraction and transfer of nancial resources to materially connected and
political persons, as a result of which entrepreneurial initiative is reduced,
the number of low-quality credit portfolios increases. Such abuses and
nancial frauds can be hindered by increased supervision in terms of
identifying and preventing lending to related parties.
Strengthening of banking institutions due to the introduction of
information technologies and digitization of economic processes will
contribute to the reduction of operational and information costs in the
economy and, above all, in the real sector, which acts as an impetus for
investment and innovative development of enterprises.
Conclusion
Thus, the role of banking institutions is constantly growing, the
stabilization of the banking system and the mobilization of banking
resources depends on the eectiveness of the development of the real sector
75
CUESTIONES POLÍTICAS
Vol. 40 Nº 75 (2022): 64-78
of the economy and the synergistic eectiveness of the interaction of human,
nancial, managerial and material resources. Institutional transformation
requires the introduction of stabilizing, adaptive banking institutions to
reduce the riskiness of the banking sector, overcome bankruptcies and
increase the eciency of the entire banking system.
The scientic novelty of the study is the substantiation of the foundations
of the institutional transformation of the banking sector in the conditions of
digitalization to increase the eciency of its activity and competitiveness,
which involves: rstly, the direction of the banking system to merge with
the global nancial system while simultaneously ensuring an increase in its
own competitiveness; secondly, the transformation of the functioning of the
National Bank of Ukraine in the direction of the creation of economically
adaptive functions and the application of behavioral mechanisms of
inuence on banking institutions in order to develop them and strengthen
supervision in terms of identifying and preventing crediting of related
parties.
Thirdly, the application of methods of preventive rehabilitation of
problem banks to prevent their bankruptcy and to weaken the institutional
structure of the banking system; fourthly, increasing the stabilization
of the banking system by strengthening the role of private banks; fthly,
expansion of the functions of the Individual Deposit Guarantee Fund in
the direction of guaranteeing the deposits of legal entities, communities,
small enterprises, non-prot organizations and nancial institutions such
as pension and insurance funds; sixthly, the implementation of digital
technologies in the activities of banking sector entities, which contributes
to the reduction of operational and information costs in the economy,
which acts as an impetus for investment and innovative development of the
economy.
The issue of the introduction of modern information technologies in the
banking sector to increase the eciency of the functioning of the banking
system, ensure economic security and improve the quality of the provision
of banking services requires further scientic research, which in aggregate
is able to give a synergistic eect to ensure the development of the real
sector of the economy in modern conditions of uncertainty and increased
risk in a consequence of the escalation of social relations.
Bibliographic References
AREFIEVA, Olena; TULCHYNSKA, Svitlana; POPELO, Olha; AREFIEV,
Serhii; TKACHENKO, Tetiana. 2021. “The Economic Security System in
the Conditions of the Powers Transformation” In: IJCSNS International
Journal of Computer Science and Network Security. Vol. 21, No. 7,
pp. 35-42.
76
Denis Shcherbatykh, Ruslan Tseben, Nataliia Valkova, Svitlana Jereleiko y Pavlo Nagorny
Regulatory policy and institutional transformation of the banking system of Ukraine in the
conditions of digitalization
ARIAS, José; MAQUIEIRA, Carlos; JARA, Mauricio. 2020. “Do legal and
institutional environments matter for banking system performance?” In:
Economic research - Ekonomska istraživanja. Vol. 33, No. 1, pp. 2203-
2228.
BRATU, Renate; PETRIA, Nicolae. 2018. “Evaluation of Banking Digitization
Policy of Romanian Commercial Banks” In: Springer Proceedings in
Business and Economics, pp. 21-39.
BYMARCIN, Roman Czubala Ostapiuk. 2021. “Financial and economic crisis
within the EU. Consequences for the Polish banking institutional
system”. Institutional Change after the Great Recession.
CANH, Nguyen Phuc; SCHINCKUS, Christophe; SU, Thanh Dinh; CHONG,
Felicia Hui Ling. 2021. “Institutional quality and risk in the banking
system” In: Journal of Economics, Finance and Administrative Science.
Vol. 26, No. 51, pp. 22-40.
CASTILLO-CARMELINO, Julio; CASTRO-NAGATOMY, Eder; PEREZ-
PAREDES, Maribel; RAYMUNDO-IBAÑEZ, Carlos; ALVAREZ, Jose
Maria. 2020. “Digitization Model for Reducing Costs and Operating
Times in Peruvian Banks” In: 2020 9th International Conference on
Industrial Technology and Management (ICITM), pp. 166-170.
CASTRO-NAGATOMY, Eder; CASTILLO-CARMELINO, Julio; RAYMUNDO-
IBAÑEZ, Carlos; PEREZ-PAREDES, Maribel; DOMINGUEZ, Francisco.
2022. “Digitization model for costs and operating times reduction in
Peruvian Banks” In: Energy Reports. Vol. 8, pp. 639-652.
DERHALIUK, Marta; POPELO, Olha; TULCHYNSKA, Svitlana;
MASHNENKOV, Kostyantyn; BEREZOVSKYI, Danylo. 2021. “State
policy of the potential-forming space transformation in the context of the
regional development intensication” In: Cuestiones Políticas. Vol. 39,
No. 70, pp. 80-93.
DUBYNA, Maksym; POPELO, Olha; KHOLIAVKO, Nataliia; PANCHENKO,
Olena; TARASENKO, Artem. 2022. “Features of the Transformation
of the Regional Models of the Households’ Financial Behavior” In:
Management Theory and Studies for Rural Business and Infrastructure
Development. Vol. 44, No. 1, pp. 117-124.
ELISABETH, Paulet; HAREESH, Mavoori. 2020. “Conventional banks and
Fintechs: how digitization has transformed both models” In: Journal of
Business Strategy. Vol. 41, No. 6, pp. 19-29.
FEDYSHYN, Maiia; ABRAMOVA, Alla; ZHAVORONOK, Artur; MARYCH,
Maksym. 2019. “Management of competitiveness of the banking services”
77
CUESTIONES POLÍTICAS
Vol. 40 Nº 75 (2022): 64-78
In: Financial and credit activity: problems of theory and practice. Vol. 1,
No. 28, pp. 64-74.
GROSU, Veronica; KHOLIAVKO, Nataliia; ZHAVORONOK, Artur; ZLATI,
Monica Laura; COSMULESE, Cristina Gabriela. 2021. “Conceptualization
of model of nancial management in romanian agriculture” In: Economic
Annals-XXI. Vol. 191, No. 7-8 (1), pp. 54-66.
KOSACH, Iryna; ZHAVORONOK, Artur; FEDYSHYN, Maiia; ABRAMOVA,
Alla. 2019. “Role of commission receipts in formation of the revenue
of the commercial bank” In: Financial and credit activity: problems of
theory and practice. Vol. 4, No. 31, pp. 22-30.
KYCHKO, Iryna; POPELO, Olha; TULCHYNSKA, Svitlana; ZHYGALKEVYCH,
Zhanna; TREITIAK, Olha. 2021. “The Impact of Digitalization on the
Forms Change of Employment and the Labor Market in the Context
of the Information Economy Development” In: IJCSNS International
Journal of Computer Science and Network Security. Vol. 21, No. 5, рр.
160-167.
LIAO, Mei. 2017. “Institutional Reform in the Chinese Banking System and
China’s Implementation of Commitments to the WTO” In: China and the
Challenge of Economic Globalization: The Impact of WTO Membership,
pp. 207-232.
LYEONOW, Serhiy; YAROVENKO, Hanna; KOIBICHUK, Vitalia; BOYKO,
Anton; KRAVCHYK, Yurii. 2022. “Creation of users’ screen forms of
the nancial monitoring automated information system for economic
development and economic growth” In: Financial and Credit Activity
Problems of Theory and Practice. Vol. 6, No. 41, pp. 212-222.
MAMADIYAROV, Zokir Toshtemirovich; SULAYMANOV, Samandarboy
Adhambek ugli; ASKAROV, Sarvar Anvar ugli; UKTAMOVA, Durdona
Bakhtiyor kizi. 2021. “Impact of COVID-19 pandemic on accelerating
the digitization and transformation of banks” In: The 5th International
Conference on Future Networks & Distributed Systems (ICFNDS 2021),
December 15-16, 2021, Dubai, United Arab Emirates, pp. 706-712.
SAVIN, Stanislav; KRAVCHYK, Yurii; DZHERELIUK, Yuliia; DYAGILEVA
Olena; NABOKA, Ruslan. 2021. “Management of the Processes on
the Quality Provision of the Logistic Activity in the Context of Socio-
Economic Interaction of Their Participants” In: IJCSNS International
Journal of Computer Science and Network Security. Vol. 21, No. 12,
pp. 45-52.
78
Denis Shcherbatykh, Ruslan Tseben, Nataliia Valkova, Svitlana Jereleiko y Pavlo Nagorny
Regulatory policy and institutional transformation of the banking system of Ukraine in the
conditions of digitalization
TARASENKO, Olena; DUBYNA, Maksym; POPELO, Olha. 2022. “The Essence
of the Deposit Behavior of Households and Features of its Formation
in the Conditions of Turbulent Development of the Financial Services
Market” In: Baltic Journal of Economic Studies. Vol. 8, No. 1, pp. 134-
147.
TRESIERRA, Alvaro Edmundo; REYES, Sergio David. 2018. “Eects of
institutional quality and the development of the banking system on
corporate debt” In: Journal of Economics, Finance and Administrative
Science. Vol. 23, No. 44, pp. 113-124.
ZHAVORONOK, Artur; CHUB, Anton; YAKUSHKO, Inna; KOTELEVETS,
Dmytro; LOZYCHENKO, Oleksandr; KUPCHYSHYNА, Olga. 2022.
“Regulatory Policy: Bibliometric Analysis Using the VOSviewer Program”
In: International Journal of Computer Science and Network Security.
Vol. 22, No. 1, pp. 39-48.
www.luz.edu.ve
www.serbi.luz.edu.ve
www.produccioncienticaluz.org
Esta revista fue editada en formato digital y publicada
en diciembre de 2022, por el Fondo Editorial Serbiluz,
Universidad del Zulia. Maracaibo-Venezuela
Vol.40 Nº 75
