Kulish E. Capital market in system of economic relations

Object of research: process of functioning of fund market in the socially oriented market economy. Pur-pose of research: development of conception of func-tioning of fund market as the redistributed mechanism of investing of production and practical recommenda-tions on adjusting of his socio-economic efficiency in the conditions of market transformation of economy. Methods of research: systems approach, methods of structurally-functional analysis generalization and comparison, historical and evolutional approach transi-tion methods, from abstract to concrete, analysis and synthesis, induction and deduction, methods of eco-nomical and statistical analysis. Results: socio-economic essence and functional setting of fund market is grounded; determination of term is offered "fund market"; conception of functioning and fund market development is developed in the conditions of economy of Ukraine; the method of comparative analysis of processes of forming of funds markets is improved in market and transformation economies; the system of internal and external factors of financial and credit and structurally and reproduction character is exposed; the role of the state is grounded in the making fund market and forming of his institutional and informative provid-ing; the complex of economic measures of the state is developed on the improvement of the system of state support of fund market development of Ukraine in the direction of increase of efficiency of his functioning; leverage and stimuli of effective taxation of the secu-rity-related operations and application of having a spe-cial purpose taxes deductions is certain; the mechanism of stimulation of the portfolio investing is offered. Novelty: first: modern conception of functioning and fund market development is developed in the condi-tions of economy of Ukraine; the mechanism of stimu-lation of the portfolio investing is offered; improved: determination of term is a "fund market", his socio-economic essence is exposed; method of comparative analysis of processes of forming of funds markets in market and transformation economies; got further de-velopment: ground of role of the state in the making fund market and forming of his institutional and infor-mative providing; determination of leverage and stimuli of effective taxation of the security-related operations and application of having a special purpose taxes de-ductions. Field of the use: of particular a branch.