Orlyk M. The crediting evolution of the Naddnieper Ukraine (the end of the 18th - the beginning of the 20th centuries)

The purpose of the thesis work is to deepen insight into the theoretical and methodological principles of investigation the crediting evolution of the Naddnieper Ukraine for the period of the end of the 18th the beginning of the 20th centuries based on the comprehensive historical and theoretical analysis and to develop recommendations concerning the enhancing the effectiveness of lending at the domestic market of finance services. In this doctoral dissertation were examined and analysed theoretical basics of History of Economic Doctrines on lending according to three existing theories: naturalistic, capitalmaking, Marxist theory under these theories was highlighted theoretical basics of formation and development of the credit system of the Naddnieper Ukraine, and the economic essence of the loan was disclosed. Using as the basis historical and economic analysis of studies of the 19th - beginning of the 20th century, it was established the formation and transformation of scientific views which were influenced by economic and political historical processes, and it was found out that the Russian Empire considered the experience of the European countries during its credit policy formation. It has been proven that significant contribution of the Ukrainian economists of the imperial era to the development of economic thought had a positive impact not only on the formation of the national economic school, but also was widely used in reforming the credit system of the Russian Empire as a whole, which had a corresponding reflection on the formation and development of the financial and credit system of the Dnieper Ukraine. It has been analysed the state of the modern domestic economic thought concerning crediting problem in the Ukrainian territory during imperial era and found that they were proceeding by these main directions: 1) establishment and activities of the state empire banks; 2) the development of agricultural crediting at the Ukrainian territory; 3) bank system formation; 4) development of the credit cooperation; 5) activity of other financial and credit societies and institutions. Most scientists considered these issues using regional principles. It was separately investigated groups of Ukrainian governorates of the Leftbank Ukraine, Right-bank Ukraine, Southern Ukraine or it was studied distinct Ukrainian governorates. It has been proved that private banks in the Ukrainian territory in the pre-reform period was poorly developed, however the basis of development of small loan was established by loan cash desks attached to landlordly estates and rural banks. In large commercial and industrial cities begin to establish both banking houses, which carried out a certain range of banking operations including borrowing operations and trading houses combining trading and banking activities. Investigating the development process of commercial bank lending in the postreform period (late 19th - early 20th centuries) were discovered its intensification and spreading to the whole territory of Naddnieper Ukraine. It was founded that the characteristic feature of State Bank was the existence near public financial management, regulating functions of the existing bank system, crediting of other banks and institutions in addition. Analyzing the formation and development of mortgage lending in the second half of the 19th – early 20th centuries it was found that the main feature of building an imperial system of mortgage lending by banking institutions could be considered its social class principle concerning determination of the circle of borrowers. We have been investigated and highlighted the formation process of domestic credit cooperation as the basis of small loan. The attention was paid to the reasons of origin and crediting principles of small credit institutions of the new type in the form of savings and loan associations and credit societies, which were the effective form of uniting the Ukrainian peasantry for lending in order to buy out land and purchase agricultural equipment. It was found that specialties of lending mechanism by the mutual credit societies in the Naddnieper Ukraine in the first half of the 19th -the beginning of the 20th century was formed under the influence of the widespread at that time European experience of stakeholders’ self-organization in order to create mutual credit societies on conditions of mutual guarantee of society members, who were at the same time founders and borrowers on conditions determined under the terms of the charter. In providing grounds for using historical experience of the credit system evolution in the modern conditions, it was highlighted, that private land ownership offers significant opportunities for development of the long-term mortgage lending, will contribute to Investing in development of agriculture and other branches of the economy.