CORPORATE BONDS IN THE POST-WAR RECONSTRUCTION OF UKRAINE

Abstract

The article is devoted to the mechanisms of the post-war recovery of the economy and infrastructure of Ukraine. Taking into account the results of the conducted research, it is proven that real estate construction is a systemic, budget-generating industry that has a direct and decisive influence on the development of the entire economy. The implementation of infrastructure projects leads to a reduction of unemployment, growth in business activity, increase in the capitalization of other industries and is an indicator of the expectations of institutional investors and corporations regarding the development of the economy in the coming years. After disquisition of the financing mechanisms of construction in Ukraine and valuation the scale of infrastructure destruction during the war, it was determined that the existing financing mechanism is limited and insufficient to attract investments in the volumes necessary for post-war reconstruction. With this in mind, a model of attracting investments for the restoration of infrastructure and the economy of Ukraine is proposed. World experience proves that the use of infrastructure-type corporate bonds is economically justified and effective in attracting large amounts of investment, and the use of military bonds by the government of Ukraine shows that domestic business and ordinary Ukrainians have a positive attitude to the appearance of new financial instruments, if the purpose of using such instruments is clear and understandable. The necessary characteristics of debt securities are determined in order to increase their investment attractiveness for various groups of investors. The definition of he main reasons for the low popularity of Ukrainian bonds among foreign investors is given and ways to increase the attractiveness of debt securities abroad are proposed. A mechanism for attracting investments in infrastructure projects in the context of the post-war reconstruction of Ukraine has been developed. It has been proven that large-scale financing of construction is the key to the development of the economy and well-being of Ukraine.