Stepanyuk Y. Maintenance of financial stability within the framework of international capital flows regulation

The thesis examined the theoretical basis of financial stability maintenance within the context of capital flows regulation and developed practical guidelines for financial stability policy in Ukraine. Author submitted a complex definition of financial stability and its characteristics, analyzed main risks for financial stability in conjunction with international capital flows and their structure. He argued the role of central bank in supporting financial stability and outlined measures that are effective in prevention of financial stability breakdown. The thesis provided an estimation of international capital flows effect upon financial stability indicators in Ukraine. Author developed a methodology for estimation of aggregate asset price indices in Ukraine. Considering domestic and international experience of capital controls implementation along with central banks' experience in setting up financial stability function author gave recommendations on enhancement of capital flows regulation policy, banking supervision, monetary and fiscal policies in order to promote financial stability in Ukraine.