Development of the Stock Market of Ukraine in Modern Conditions: Current State and Prospects

Анотація

The stock market is a vital element of any country's financial system.It effectively redistributes monetary resources among economic participants.In today's world, the development of this market is crucial for attracting capital, ensuring optimal asset allocation, and promoting long-term economic growth.For nations undergoing economic transitions -Ukraine being a prominent example -establishing a well-functioning, transparent stock market infrastructure is indispensable for reinforcing the national financial framework.Purpose.This study aims to evaluate Ukraine's current stock market conditions, identify the primary factors influencing its trajectory, and propose strategies to enhance its operational performance in the face of present economic challenges.Results.The investigation identifies current patterns in the development of Ukraine's securities market and describes the main factors that determine its functioning.Considerable attention is devoted to trading volume fluctuations, the variety of financial instruments in circulation, and investor engagement levels.The research also identifies major obstacles to market growth, such as insufficient liquidity, limited tradable assets, minimal institutional investor involvement, and low public trust.Additionally, the paper examines the impact of ongoing economic turbulence on market operations, emphasizing the overwhelming predominance of government war bonds and the resultant crowding-out effect on corporate securities.Conclusions.Based on empirical evidence, the study outlines key strategies to advance Ukraine's stock market, improve operational efficiency, and increase investment appeal.The study identifies strengthening regulatory oversight, modernizing market infrastructure, broadening the range of available instruments, and encouraging participation from institutional and retail investors as critical prerequisites for sustainable development.Furthermore, the study proposes that aligning with European standards and deliberately adopting digital financial technologies, including distributed ledger systems and asset tokenization, are innovative catalysts for post-conflict market restoration.

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