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Assessment of the financial security of agriculture in Ukraine

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  • Kunytska-Iliash, Marta

Abstract

Purpose. The purpose of the article is to improve the methodology and approbation of the author’s methodical approach to analyzing the financial security of the country’s agriculture in order to form an appropriate informational and analytical basis for the development of high-quality management decisions aimed at strengthening the key security parameters of this strategic branch of the national economy and the impact of these processes on the growth of the industry, implementation its potential for the development of rural areas and improvement of the quality of life of the rural population. Methodology / approach. The methodological basis of the study was system-structural (development of information and analytical support for monitoring financial security at the industry level) and integral-temporal (construction of dynamic series of empirical indicators of financial security of the industry, including their components) approaches. The author’s approach to assessing the financial security of agriculture involves the use of an algorithm, the basis of which is the normalization of indicators (stimulators and destimulators, complementary influence), determination of the weights of indicators and their groups using the Principal component analysis, calculation of multidimensional values in the form of weighted integral indices. Results. The results of the analysis of the dynamics of the integral values of the components of the financial security of Ukraine’s agriculture provided grounds for the conclusion that there are both positive trends and problematic changes in the functioning and development of the country’s agriculture and rural areas in general. It was established that the greatest impact on ensuring the financial resilience of the agricultural sector of Ukraine for 2010–2020 was industrial and economic (the weighting factor was 19.1 %) and credit (18.8 %) security. The results of the empirical research showed that the level of financial security of agriculture in Ukraine for 2010–2020 was below moderate (48.9 %) and decreased by 0.87 percentage points on average every year. Originality / scientific novelty. A new functional-systemic method of calculating the integral index of financial security of the industry (by six components: investment, credit, debt, money, production-economic, system-structural) has been developed, which takes into account the spatial-temporal and sigmoidal nature of financial-economic processes through the use of a logarithmic function , leveling the statistical error of the linear calculation method. Practical value / implications. The results of the study are aimed at the formation of a powerful informational and analytical basis for the development of management decisions on strengthening the financial security of agriculture in Ukraine with a simultaneous focus on the development of rural areas and improving the quality of life of the rural population.

Suggested Citation

  • Kunytska-Iliash, Marta, 2023. "Assessment of the financial security of agriculture in Ukraine," Agricultural and Resource Economics: International Scientific E-Journal, Agricultural and Resource Economics: International Scientific E-Journal, vol. 9(1), March.
    • Handle: RePEc:ags:areint:337421
    DOI: 10.22004/ag.econ.337421
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    1. Vasyltsiv, Taras & Mulska, Olha & Hrabynska, Iryna & Ivaniuk, Ulana & Shopska, Yuliya, 2023. "Financial and economic security of agricultural business: specifics, analysis methodology, and measures of stabilization," Agricultural and Resource Economics: International Scientific E-Journal, Agricultural and Resource Economics: International Scientific E-Journal, vol. 9(2), June.

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