Typology of Factors of Formation of Models of Credit and Investment Policy in the National Economy

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Lviv Polytechnic National University
Lviv Polytechnic National University, Ukraine
Lviv Polytechnic National University

The article considers the approaches to defining the concept of «credit and investment policy» and the factors influencing the formation of models of credit and investment policy in the national economy. The authors typologize all factors of influence in five groups: institutional, economic, socio- psychological, infrastructural and technological. The authors propose to include the following factors to the technological group: the share of non-cash transactions, the number of broadband Internet users and the level of use of information and communication technologies. It is also suggested to add to the existing factors the following: level of financial literacy and technical education of the population, existence of state and regional investment funds, open accreditation of investment advisers, penalties for violation of investment or lending conditions, regulation of investment funds and credit unions, public confidence in state bodies, the presence of active business angels, access to credit resources, investor protection, venture capital, the amount of savings in the population. It is worth noting that the level of financial literacy has a significant impact due to the fact that the population with a higher level of financial literacy will invest more in their own savings, which will lead to an increase in private investment in Ukraine. Developed countries have long introduced educational financial and investment programs to improve financial knowledge, thereby encouraging people to save more and, as a result, to invest. Another important aspect is the development of financial literacy in the younger generation, because, according to the Organization for Economic Cooperation and Development, the purchasing power of young people (up to 25 years) is growing every year. It is concluded that the process of developing models of credit and investment policy and methods of evaluating their effectiveness need further research. Particular attention should be paid to the development of practical tools and methods for developing the credit and investment potential of the state.

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