ORCID ID: https://orcid.org/0000-0003-1092-4218
ORCID ID: https://orcid.org/0000-0002-0858-2629
ROLE OF EDUCATIONAL FACTORS IN FINANCIAL PARADIGM FORMATION IN UKRAINE
Abstract. The article discusses the issue of the evolution of the financial paradigm in Ukraine. The definition essence of the financial paradigm and the factors determining them are analyzed, as well as its connection with the concepts of financial literacy, financial behavior, and financial infrastructure. The role of educational drivers for the financial paradigm of the Ukrainian population is determined. The specific features of the evolution of the financial paradigm at the different levels of education in Ukraine (first of all, higher education) are studied. Key features of the evolution of the paradigm priorities at the scientific level of higher education are established. The correlation between the financial paradigm, financial literacy and saving and investment activity of Ukrainian households has been evaluated. Key components of the corporate strategy of the national financial institutions determined by Ukrainian households’ financial paradigm have been identified. Reasons for the interest of many domestic financial institutions in the implementation of opportunistic corporate strategies at the level of interaction with households have been identified. The article substantiates several practical recommendations aimed at overcoming ideological distortions in the financial relations in Ukraine, including at the level of «households – managerial financial infrastructure». The key role of the state in the evolution of the ideology of domestic households and mechanisms for its realization are demonstrated. Emphasis is placed on the necessity to ensure the quality of financial education at higher education levels, as well as to develop measures for improving financial literacy in the lifelong learning process. The positive impact of proposed measures on the development of financial relations in Ukraine in general and financial behavior of households – in particular (primarily, regarding institutional financial infrastructure) has been proved.
Keywords: paradigm, financial paradigm, financial literacy, education, higher education, financial infrastructure, managerial financial infrastructure, financial institutions, savings, investments.
JEL classification: А2, P34.