Security Dimension of Financial Support for the Sustainable Development of Ukrainian Regions

Abstract

The purpose of the article is to present the results of determining the security level of financial support of the regions of Ukraine in the conditions of the concept of sustainable development implementation. The research substantiates a set of indicators that monitor the level of financial support for the development of the region from the following sources: the financial market, the corporate sector, and public finance. The proposed indicators and their security levels include the following aspects: the sustainability of public finances, the level of entrepreneurial activity, the investment climate, the development of the banking sector and the standard of living of the population. The level of financial security of Ukraine’s regions was assessed on the basis of an integrated approach. Systemic interrelationships between the resulting indicator of the financial security of the regions and the factors affecting its level were also revealed. The obtained results provided an answer to the questions regarding the existing problems of financial support for the sustainable development of the regions of Ukraine. Based on the results of the research, the priority directions for ensuring the financial security of the region are substantiated. The recommendations are developed on the basis of the study of the impact of the security factors of the financial market, the corporate sector, and public finances on the achievement of sustainable development goals.

Keywords: financial security of the region, indicator analysis, sustainable development, decentralization