FEATURES OF FINANCIAL MANAGEMENT IN INTERNATIONAL ECONOMIC ACTIVITY

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DOI:

https://doi.org/10.18371/fcaptp.v3i38.237467

Abstract

Abstract. The article identifies the features of financial management in international economic activity in terms of limiting economic relations associated with the COVID-19 pandemic. It is clear that the current state of the economy requires the spread of international economic activity at both macro and micro levels, as only provided that the integrated system of economic relations between the national economies of different countries and the benefits of international cooperation, it is possible to avoid economic and social problems associated with the COVID-19 pandemic. It is noted that Ukraine’s active participation in world economic processes requires economy. In turn, the transformation processes in Ukraine require a clear coordination of actions in all areas and parts of the financial system, which is the conceptual basis of a new model of economic and social development of the state. Such a model should combine the constant improvement of the welfare of society and every citizen and the formation of a competitive national economy in Ukraine, which would be organically integrated into global economic processes and take a worthy place in them. It is determined that Ukraine’s international economic activity has a very great potential in the development of economic relations, despite the existing problems, the solution of which is the key to future success in the development of trade in the international market. A SWOT-analysis of Ukraine’s international economic activity was conducted, which revealed trends in the development of foreign economic activity. The financial mechanism of development of the international economic activity (IEC) which is an element of management and the regulator of foreign economic relations is offered. The concept of IEC financial management is proposed, which substantiates the purpose and main tasks, which are specified at the micro and macro levels. It is concluded that many problems of financial management in international economic activity should be addressed primarily at the macro level, i.e. public institutions.

Keywords: financial management, international economic activity, financial mechanism, concept.

JEL Classіcatіon F30, G20

Formulas: 0; fig.: 3; tabl.: 1; bibl.: 10.

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Published

2021-06-30

How to Cite

Fedotova, Y., Volkova, M., Naumov, M., Burmaka, T., & Serogina, D. (2021). FEATURES OF FINANCIAL MANAGEMENT IN INTERNATIONAL ECONOMIC ACTIVITY. Financial and Credit Activity: Problems of Theory and Practice, 3(38), 351–357. https://doi.org/10.18371/fcaptp.v3i38.237467

Issue

Section

Economic-theoretical aspect of Financial Credit System's development