Regulation of financial services in the countries with transition economies, using an example from Ukraine

Abstract

The present dissertation evaluated the development of the financial services and their regulation during the transition period in a post centrally-regulated country. Ukraine has been chosen as a case-study.

The work evaluates the past, present and future prospects of financial services in Ukraine. It presents the role of the regulatory authorities for the particular services sector with special emphasis on the difference between the command system and the market economy, drawing the way toward it; introduces the most acute problems of the transition period of the state in general, as well as the particular conditions that prevail in the financial services sector.

The main queries approached in this dissertation are the following:

1. What are the most important tasks for a country in the transition? 2. How do the political, economic, demographic conditions of the country influence the development of the financial services? 3. How does financial services regulation evolve from the command system of the Union of Soviet Socialist Republics to the new market economy? 4. What are the conditions of financial services during the transition period and how will they develop in the near future? 5. Finally, what can be considered as "ideal" regulatory regime for financial services in the country with a growing economy and willing to join the European Union?