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THE POLICY OF MINIMIZING OF FALLOUTS OF BANKING CRISIS IN UKRAINE
Download This ArticleOksana Gyrba, Iurii Galych
Abstract
Ukrainian economy faced sharp decrease in 2008, which was characterized by general deterioration in macroeconomic indicators. Such situation and influence of foreign markets led Ukraine to the financial crisis which started in banking system. Ukrainian banking crisis was accompanied by changes in national legislation. There are 3 ways of minimizing of fall-outs of banking crisis in Ukraine. They are as follows: temporary administration, nationalization and liquidation. Ukrainian anti-crisis steps, which were implemented, were compared with foreign experience. The question is whether these steps were as successful as some of foreign ones or not. Analysis which was made showed imperfection of national legislation, lack of interaction between state regulatory authority and lack of effective long-term strategy.
Keywords: Financial Crisis, Banking Sector, Liquidation, Nationalization, Temporary Administration
How to cite this paper: Gyrba, O., Galych, I., & Khomutenko, Y. (2011). The policy of minimizing of fallouts of banking crisis in Ukraine [Special issue]. Corporate Ownership & Control, 8(2-2), 102-110. https://doi.org/10.22495/cocv8si2p4
