Lepushynskyi V. Scientific and methodological fundamentals of assessment of monetary policy effectiveness in Ukraine

The theoretical fundamentals for monetary policy effectiveness have been discovered in the thesis. Essential and interrelated conditions of monetary policy effectiveness such as monetary regime and monetary transmission mechanism are defined. Main relevant institutional and systemic factors that deteriorate monetary policy effectiveness are revealed and classified. The phenomenon of credit rationing in the monetary market of Ukraine has been determined and proved. The usage of banking liquidity as an indicator of monetary policy stance has been substantiated. Empirical approaches to investigation of monetary policy influence on certain macroeconomic process have been improved. The need for adaptation of flexible exchange rate regime has been substantiated. Approaches to elaboration of scenario forecasts of monetary policy potential in stabilization of Ukrainian economy using VAR models have been improved. Reasonability of a shift to monetary regime based on a price stability has been substantiated.