Function of economy financial and real sectors subjects must be held according to particular rules which are defined by the economic system (fig

PhD in Economics, Associate Professor Коrneyev М.V.

LLC "AgroInvestGroup", Ukraine

THE THEORETICAL AND METHODICAL BASES OF FINANCIAL AND REAL SECTORS STUDY IN CONDITIONS OF THE TRANSITION TO FINANCIAL ECONOMY

The development of segmental structure of economy financial and real sectors correlates with the general development of economic system in whole. At a later time is assured the stability of such system, the regularity of its subjects economical activity, is assured the need in trusty protection from many financial and economic risks which exist in every specific conditions of management. The activity of financial and real sectors separate subjects acquires the considerable paces in any conditions of economic development and of course depends on segmental structure of economy. The public policy in the region of development of economy financial and real sectors directs at improvement of normative and legal base, at expansion of financial and economic services volume in the market, thereafter at increase of subjects reliability of one or another sector of economy. The tactical and strategic development of subjects activity of economy financial and real sectors with position of situational modelling can occur in the form of several scripts which meet the expectations of such subjects different groups [2;3;6].

Function of economy financial and real sectors subjects must be held according to particular rules which are defined by the economic system (fig. 1).

The methodical bases before estimate of development state of sector structure on the stage of the transition to financial economy are characterized with the system of separate base indicators:

1) The correlation of economy financial and real sectors on separate macro-indicators (in general or on separate groups of such sectors subjects). Such correlation characterizes the degree of domination of one sector over other in every specific conditions of management; in addition also is determined the speed of the resources move (on their kinds) on these sectors of economy.

Fig. 1. Cooperation and convergence of economy

financial and real sectors

2) The flexibility of financial (real) sector (in general or on separate groups of such sectors subjects) characterizes the relative occasion of adjustment of sector subjects to changeable conditions of management; in addition also is determined the degree of balance (or inversely the imbalances on their kinds) on these sectors of economy.

3) The resistance of financial (real) sector (on separate groups and all sum-total of such sectors subjects) characterizes the flexible response to influences of economic circumstances purposely of separate cases prevention.

4) The stability of financial (real) sector (on separate groups and all sum-total of such sectors subjects) characterizes the relative ability of sector (groups of its subjects) to function persistently, equivalently, without structural changes.

5) The activity of financial (real) sector (on separate groups and all sum-total of such sectors subjects) characterizes the measure what directs to realization of potential for further achievement of results.

6) The indicator of competitive ability of financial (real) sector (on separate groups and all sum-total of such sectors subjects) is addition to previous indicator and characterizes the level of ability to compete on separate criteria.

7) The segmentation (branching) of financial (real) sector (in general or on separate kinds of subjects) characterizes the degree of division into approximate, corresponding on characters components.

The dynamics and structure of above-listed indicators increasingly characterize the macroeconomic bases of development of sector structure on the stage of transition to financial economy. The results of corresponding analysis are possibility to detail the system of specializing indicators concerning subjects or their groups for one or other sector of economy in specific period of time: the indicators of transformation (negotiability of assets on their kinds); the indicator of capital negotiability on its kinds and in general; the indicators of backlog negotiability on its kinds; the indicator of dependence (independence); the indicators of concentration and flexibility of capital (on its kinds); the indicators of provision; the indicators of liquidity on its kinds; the indicator of responsibility; the indicators of economic efficiency (profitability) on its kinds; the indicator of reinvestment; the indicator of resistance of economic growth. In addition on indicators of transformation and negotiability it is possible to determine the periods of assets and liabilities negotiability on its kinds on subjects, the periods of backlog discharge on its kinds concerning subjects or their groups of one or other sector of economy during specific period of time [1;4;5].

In practice taking into account base and specializing indicators of estimate of development state of economy financial and real sectors is formed the generalizing indicator what characterizes the degree of their interaction. In addition is determined the degree of convergence of economy financial and real sectors (in other words the degree of converging of such sectors, their institutional mechanisms) in every specific conditions of management. In separate conditions of economic development is determined the degree of divergence of economy financial and real sectors (in other words the degree of such sectors variety) [4;5;7].

On basis of structural correlation of real and financial sectors during long run it is possible to determine the degree of transition to financial economy. In case of approximate relative equality of structural correlation of real and financial sectors during long run it can argue about transition to so-called financial economy. Within such economy neatly is traced the relative leveling of examined sectors in terms of financial resources volume, and their degree of convergence achieves the considerable level in compliance with other periods of study, also happens the variation of financial flows within given sectors on corresponding characters etc. In the pre-crisis period farthest is achieved the occasion of transition to financial economy, at the same time the crisis events visually decrease the speed of such transition (cease such transition).

Literature:

1. Ізмайлова К.В. Фінансовий аналіз: навч. Посібник / К.В. Ізмайлова – 2-ге вид., стереотип. – К.: МАУП, 2001. – 152 с.

2. Корнєєв М. В. Особливості державного регулювання сегментів фінансового ринку / М. В. Корнєєв // Збірник наукових праць ВНАУ. Серія: Економічні науки. – 2013. – №3. – С.130-139.

3. Корнєєв М. В. Формування концептуальних засад розвитку суб’єктів фінансового сектору в умовах глобалізації / М. В. Корнєєв // Інвестиції: практика та досвід. - 2013 – №22. - С.31-34.

4. Левина И. К вопросу о соотношении реального и финансового секторов / И. К. Левина // Вопросы экономики. – 2006. – № 9. – С. 83-103.

5. Ломачинська І. А. Вплив конвергенції фінансового та реального секторів на розвиток національної економіки україни / І. А. Ломачинська, А. О. Кравцова // Вісник ОНУ імені І. І. Мечникова. – 2012. – Т. 17. – Вип. 2. – С. 139-146.

6. Науменкова С.В. Розвиток фінансового сектору України в умовах формування нової фінансової архітектури: [монографія] / С.В. Науменкова, С.В. Міщенко. – К.: Університет банківської справи, Центр наукових досліджень НБУ, 2009. – 384 с.

7. Сафина Т. Р. Финансовый и реальный сектор: подходы к оценке места и роли в экономике / Т. Р. Сафина // Финансы и кредит. – 2007. – № 46. – С. 25-31.