Mayorova T. Financial and Credit Mechanism of the Investment Process Activization in Ukraine

The thesis covers complex research of theoretical and methodological aspects of the modern paradigm of financial and credit mechanism, as well as grounds practical recommendations aimed at upgrading efficiency of its levers and instruments for the purpose of investment process activization in Ukraine. Evolution of scientific approaches to identifying the essence, structure and role of financial and credit mechanism in public reproduction was analyzed, interdisciplinary ties between finance and investment were defined; key determinants of building the paradigm of financial and credit mechanism of the investment process activization were found out. The essence of financial and credit levers was disclosed, vectors of their impact on the investment process activization were highlighted, actual trends of the investment process realization as the result of financial and credit levers' effect were analyzed. Financial facilities and ability to develop the investment potential of enterprises were specified, peculiarities of generating equity, debt and raised capital in financing the capital investment were clarified. The author ascertained problems of transforming savings into investment in Ukraine and examined the institutional component of the Ukrainian financial market in order to identify the ways of activating the role of collective investment institutions, insurance companies and banks in financing the economic development of Ukraine. We also offered a set of measures and instruments pointed at raising the efficiency of using budget, fiscal, monetary and credit levers in activization of the investment process in Ukraine. Methodology of evaluating the synergetic effect of financial and credit levers' impact on activization of the investment process was developed. Strategic Concept of state financial and credit policy in the investment sphere was grounded.