ASSESSING THE IMPACT OF DIGITAL PAYMENT INSTRUMENTS DEVELOPMENT ON THE SCALE OF ECONOMIC INFORMALISATION: INTERNATIONAL AND NATIONAL CONTEXTS

Анотація

The rapid development of digitalization of the payment sphere and its growing role in achieving transparency of financial flows both in the world and in Ukraine, actualizes research in this area to develop recommendations for the formation of effective state financial and fiscal policy. The purpose of our study is to assess the effectiveness of the implementation of digital financial instruments in reducing shadow economic processes to determine the priority areas of state policy in the field of digitalization of the payment sphere.The article examines the relationship between the spread of digital payment instruments and the dynamics of the shadow economy using the example of Ukraine and Poland. To assess the density and direction of the relationship between these indicators, the Fechner correlation method was used, which made it possible to determine the consistency of the trends in changes in the relevant indicators in the countries studied. The results of the study indicate the presence of an inverse statistical relationship between the growth of the share of non-cash transactions and the reduction of the level of the shadow economy, which confirms the de-mining potential of the digitalization of the payment infrastructure. The value of the correlation coefficients (0.5) proves that to combat the shadow economy, it is necessary to take measures also in the tax sphere, the sphere of institutional support, the legal framework, and finance in general. At the same time, a significant use of electronic payment instruments and deposit ATMs in the informal economy in Ukraine was revealed, which requires increasing the effectiveness of control over the use of these instruments.The study also took into account the level of income across countries and showed that countries with higher income levels have a higher share of cashless payments and a lower level of the shadow economy.

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