Historical aspects of the development and formation of the Ukreinian stock market

  • Yuliia Horodnichenko Pereiaslav-Khmelnytskyi Hryhorii Skovoroda State Pedagogical University
Keywords: financial market, stock market, securities, investments, bill, exchange


The subject of the study is the financial relations that arise between the state and other economic entities in the process of attracting, distributing, using and repaying the state debt of Ukraine. The purpose of the work is to study and generalize the main stages of the emergence, formation and formation of the stock market in the world and its emergence in Ukraine and on the basis of this definition of its basic concept of existence and further development. Methods which were used in course of research: generalization, comparative analysis method, statistical method and other methods. Methodology of work. The work is based on the research of modern scientific views on the definition of the essence of the stock market. Results of work. The attention was paid to the study of the factors contributing to the appearance of the first securities; it was determined that one of the first securities was a bill; the features of appearance and formation of stock markets in the world and in Ukraine are determined. As a result of the study, a number of unresolved problems in the field of stock market operation were found. The prospect of further research is the search for methods of managing the stock market, which will make it possible to increase the efficiency of the domestic economy at the expense of inflow of funds. Application of results: Ministry of Finance of Ukraine, the Verkhovna Rada of Ukraine. Conclusions. Given that essence is a philosophical category that reflects the inner content of an object, manifested in the unity of all the many-sided and contradictory forms of its existence. The stock market has a 400-year history of development in European countries, and a profound history in Tsarist Russia. The development of the stock market infrastructure has always ensured the rights of ownership of market participants, the integrity of the redistribution of profits, as well as free redistribution of capital between sectors of the national economy. It is the stock market that is the mechanism that provides the flow of capital to new innovative industries without bureaucratic state intervention. The stock market is one of the most important segments of the financial system, through which the financial investments that are dominant in the modern economy are carried out. This market is closely linked to many markets, including the currency market, capital markets, which, like the stock market, are part of the financial market of Ukraine. The impact of the stock market on the economy, especially with the achievement of a high level of development, can not be overestimated. So, instead of cash-emission methods to cover the budget deficit or huge loans of the National Bank of Ukraine, securities are used, that is, not inflation coverage of this deficit. At the same time, securities associate free funds of economic entities and the population.


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Author Biography

Yuliia Horodnichenko, Pereiaslav-Khmelnytskyi Hryhorii Skovoroda State Pedagogical University

Horodnichenko Yuliia, PhD in Economics, Associate Professor, Chair of Finances, Banking and Insurance

How to Cite
Horodnichenko, Y. (2017). Historical aspects of the development and formation of the Ukreinian stock market. University Economic Bulletin, (35/1), 176-181. Retrieved from https://economic-bulletin.com/index.php/journal/article/view/117
Finance, Monetary Circulation and Credit