PECULIARITIES OF THE CREDIT MARKET OF ROMANIA AND COMPARISON WITH UKRAINE

Abstract

The financial markets highlight the collateral essence of economic segments as an element of the financial infrastructure, represented by a complex of institutions and mechanisms that ensure the functioning of the economy. In a market economy, the role of credit is most prominently manifested in optimizing the proportions of social reproduction. As for the stock market, it creates a market mechanism for the free, albeit regulated, transfer of capital to the most efficient industries. Finally, the currency market performs the functions of the international monetary system. Today, more and more new processes are emerging that occupy a significant place in economic relations, especially in the credit and currency markets. As a result, their segments are increasingly integrating through the implementation of innovative approaches to financial management. The rapid increase in innovative financial instruments and the number of institutions and institutions of financial markets are leading to changes. Analyzing these changes in the Romanian economy from the perspective of the concept of financial markets based on the dynamics of data from financial statements (revenues and chain indexes, etc.), the latest trends in the financial market infrastructure of Romania have been studied (the banking sector, the activity of non-banking financial and credit institutions: insurance companies, private pension funds, credit institutions, securities market), which allow a free orientation in the variety of financial institutions in Romania and their instrumental support for activities. The meaningful justification and ways to improve the functioning of institutions and infrastructure of the credit, stock, and currency markets of Romania have also been proposed. The interrelationships between different sectors of the financial market of Romania have been identified. Romania's economic power is mainly concentrated in the production of goods by small and medium-sized enterprises in industries such as precision engineering, automotive, chemical industry, pharmaceuticals, household appliances, and clothing.