Priority directions of the financial support of the population’s living standards in Ukraine

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Priority directions of the financial support of the population’s living standards in Ukraine

Journal Title: Економічний вісник університету - Year 2018, Vol 1, Issue 36

Abstract

Purpose. Set of interdependencies between various elements of the social and economic systems of the country with the purpose of determining priority directions of financial provision of the population’s living standards. Methodology. An evolutionary approach was used to study the main indicators that most accurately characterize not only the population’s standard of the living, but also the rate of their change in the process of evolutionary development of the economy in the course of the research. A systematic approach was also used to determine the signs of continuity and adaptability in the process of researching a single object. The main methods of visualization and typologization of the main research results are presented. The packages of the analytical data processing software MS Excel, MS Visio are used. Results. The cyclical development of Ukraine's social and economic systems, as well as the critical negative manifestations of the cycles that characterize the economic recession, actualized the need to find priority areas for financial provision of the population’s standard of living with a view to raising it. The direction and speed of further changes in the country, as well as economic stability in society, to a certain extent depend on the solution of these tasks. Finding the optimal mechanism for financial provision of a high standard of living requires a clearly defined financial policy, which is worked out by the state, based on persons, your standard of living, physical and social health. That is why any transformations that somehow can lead to a change in the standard of living require a systematic and continuous process of assessing their impact, in order to minimize negative impacts or maximize the positive effect on the population’s standard of living. Practical implications. The results of the research can be used in such branches of scientific knowledge as finance, money and credit, sociology, social sphere, which allows identifying priority directions of financial provision of the population’s standard of living with a view to raising it in Ukraine. Conclusions. Changes in the social and economic spheres are accompanied by a sharp increase in the differentiation of the population in terms of basic social and economic characteristics: wages, housing, personal property, and money savings. It is strategically important to provide for the financial policy of the state to increase the revenue side of the budget of households as a whole, and separately each of its members. Accordingly, the priorities for the country will be the directions of financial provision of the population’s standard of living, which ensure the improvement of the values of key indicators, such as: GDP per capita, average wages, per capita income, consumer price index, average pension, percentage of population with incomes, lower of the subsistence minimum, the aggregate income of households due to the possibility of providing feedback in the social and economic systems. This will eliminate the risks of financial losses to the population under the influence of negative factors and raise the standard of living in accordance with the conditions of social and economic development of the country, that is, to ensure the adaptability of this system to the external environment.

Authors and Affiliations

Oksana Hordei, Bogdan Patsai

Keywords

financial balance the risks of financial loss financial security social and economic systems strategy system approach the population’s standard of living

EP ID EP400788
DOI 10.5281/zenodo.1219814
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