Tab 1
Indicators of financial sustainability for different institutional sectors and markets
| Key indicators of financial stability of depository institutions | |
|---|---|
| I01 | Ratio of regulatory capital and risk-weighted assets |
| I02 | Ratio of regulatory capital of level I and risk-weighted assets |
| I03 | Equity ratio and risk-weighted assets |
| I04 | Capital share in assets |
| I05 | The share of non-performing loans less provisions in the total amount of capital |
| I06 | The share of non-performing loans in the total amount of loans |
| I07 | Reserves for non-performing loans |
| I08 | Distribution of loans by sectors, share in total loans |
| I09 | Return on assets |
| I10 | Return on equity |
| I11 | Percentage interest margin in gross income |
| I12 | Percentage of non-interest expenses in gross income |
| I13 | Share of liquid assets in the total assets |
| I14 | Value of liquid assets and short-term liabilities |
| I15 | Value of affordable stable financing and necessary stable financing |
| I16 | Ratio of net open position in foreign currency and capital |
| Additional indicators of the real estate market | |
| I17 | Ratio of regulatory capital and risk-weighted assets |
| Additional indicators of financial stability of depository institutions | |
| I18 | Ratio of large risks and capital |
| I19 | Geographical distribution of loans by sectors, share in total loans |
| I20 | Ratio of gross position of financial derivatives in assets and capital |
| I21 | Ratio of the gross position of financial derivatives in liabilities and equity |
| I22 | Share of income from financial instruments purchase and sale operations in gross income |
| I23 | Share of staff costs at non-interest expenses |
| I24 | Spread between interest rates on loans and deposit rates |
| I25 | Spread between the highest and lowest interbank rates |
| I26 | The ratio of customer deposits (excluding interbank loans) and total loans |
| I27 | The share of loans in foreign currency in the total amount of loans |
| I28 | The share of liabilities in foreign currency in the total amount of liabilities |
| I29 | The growth rate of loans to the private sector |
| Indicators of financial stability of other financial corporations | |
| I30 | The share of assets in the total assets of the financial system |
| I31 | Value of assets and GDP |
| Indicators of financial stability of funds in the money market | |
| I32 | Breakdown of investments by sectors, share in total investment |
| I33 | Breakdown of terms of investment, share in total investment |
| Indicators of financial stability of insurance companies | |
| I34 | Value of equity and investment assets |
| I35 | The ratio of received premiums minus premiums transferred by primary insurers to the total amount of premiums received |
| I36 | Return on assets |
| I37 | Return on equity |
| Indicators of financial stability of pension funds | |
| I37 | The ratio of liquid assets and projected retirement benefits next year |
| I39 | Return on assets |
| Indicators of financial stability of non-financial corporations | |
| I40 | The ratio of debt and equity |
| I41 | Return on assets |
| I42 | Return on equity |
| Indicators of financial stability of non-financial corporations | |
| I43 | The ratio of income and expenses for debt servicing and repayment |
| I44 | Ratio of income and interest expense |
| I45 | Share of liquid assets in the total assets amount Number of bankruptcy cases |
| I46 | The ratio of debt capital and GDP |
| Indicators of financial sustainability of households | |
| I47 | The ratio of household debt and GDP |
| I48 | The ratio of payments by households to debt servicing and repayment and income |
| I49 | The ratio of household boron and household income |
| Indicators of financial stability of the real estate market | |
| I50 | Dynamics of prices for commercial real estate |
| I51 | The share of loans for residential real estate in the total amount of loans |
| I52 | The share of loans for commercial real estate in the total amount of loans |
[i] GDP, gross domestic product.
[ii] Source: data from International Monetary Fund, 2018.
Fig 1
Categories of global competitiveness index. Source: Schwab (2017).
Fig 2
Categories of global competitiveness index. Source: Own elaboration.
Fig. 3
Countries of the world on the FD–FS matrix in 2009–2017. Source: Own elaboration. Note: ▴ – developed countries: AUT – Austria, CZE – Czech Republic, GBR – Great Britain, CAN – Canada, DEU – Deutschland, POL – Poland, USA – United States of America, • – developing countries: GEO – Georgia, KAZ – Kazakhstan, ZAF – South Africa, RUS – Russian Federation, ROU – Romania, TUR – Turkey, UKR – Ukraine.
Tab. 2
The impact of financial sustainability on the social and economic development of developing and developed countries in 2009–2016
| No. | Indicator | Developing countries | Developed countries | ||||
|---|---|---|---|---|---|---|---|
| Result | Criteria | Direction of connection | Result | Criteria | Direction of connection | ||
| 1 | GDP, $ | ||||||
| Fehner | −0.39 | 3.14 | ↓↓ | 0.14* | 1.06 | – | |
| Spearman | −0.06* | 0.27 | – | 0.43 | 0.25 | ↑↑ | |
| 2 | Money supply, $ | ||||||
| Fehner | 0.00* | 0.13* | – | −0.06* | 0.42 | – | |
| Spearman | 0.00 | 0.27 | – | 0.34 | 0.34 | ↑↑ | |
| 3 | Gold and currency reserves, $ | ||||||
| Fehner | −0.04* | 0.26 | – | −0.07* | 0.53 | – | |
| Spearman | 0.02* | 0.27 | – | −0.26* | 0.26 | – | |
| 4 | Use of IMF loans, $ | ||||||
| Fehner | 0.43 | 3.49 | ↑↑ | – | – | – | |
| Spearman | 0.24* | 0.26 | – | – | – | – | |
| 5 | High-tech export, $ | ||||||
| Fehner | 0.46 | 3.85 | ↑↑ | −0.18* | 1.33 | – | |
| Spearman | 0.56 | 0.23 | ↑↑↑ | −0.67 | 0.20 | – | |
| 6 | Direct foreign investments (net flow), $ | ||||||
| Fehner | 0.36 | 2.81 | ↑↑ | −0.07* | 0.53 | – | |
| Spearman | 0.35 | 0.25 | ↑↑ | −0.14* | 0.27 | – | |
| 7 | Interest rate on deposits,% | ||||||
| Fehner | −0.08* | 0.57 | – | 0.75 | 4.24 | ↑↑↑↑ | |
| Spearman | −0.08* | 0.3 | – | 0.74 | 0.39 | ↑↑↑↑ | |
| 8 | Real interest rate on loans,% | ||||||
| Fehner | 0.25* | 1.59 | – | 0.25* | 1.21 | – | |
| Spearman | 0.27* | 0.32 | – | 0.30* | 0.42 | – | |
| 9 | Financial sector loans to residents,% ВВП | ||||||
| Fehner | −0.29 | 2.19 | ↓ | 0.05* | 0.30 | – | |
| Spearman | −0.45 | 0.24 | ↓↓ | 0.08* | 0.57 | – | |
| 10 | Consumer price index,% за рік | ||||||
| Fehner | 0.04* | 0.26 | – | −0.25 | 1.90 | ↓ | |
| Spearman | −0.10* | 0.27 | – | −0.24* | 0.26 | – | |
| 11 | Unemployment rate,% | ||||||
| Fehner | −0.54 | 4.66 | ↓↓↓ | −0.36 | 2.81 | ↓↓ | |
| Spearman | −0.50 | 0.24 | ↓↓↓ | −0.45 | 0.24 | ↓↓ | |
GDP, gross domestic product.
Source: Own calculations based on data from the International Monetary Fund and World Bank.
Note: ′ F for the coefficient Fechner, ρ for the Spearman coefficient; ″ tF factor for Fechner, tρ for the Spearman coefficient; ′′′ ↑↑↑↑ – close straight, ↑↑↑ – visible straight, ↓↓↓ – noticeable inverse, ↑↑ – moderate straight line, ↓↓ – moderate inverse, ↓ – weak inverted;