LEASING FINANCING AS A TOOL FOR IMPLEMENTING STATE POLICY FOR ECONOMIC RECOVERY

Abstract

Introduction. The state policy of economic recovery of Ukraine requires effective and flexible financial instruments to stimulate business processes. The leasing market is an effective mechanism for attracting private investment, updating fixed capital and supporting the logistics of the real sector of the economy. Research into global trends and modernization of leasing financing through the use of innovative mathematical models and assessments should promote the interest of the business community in implementing the economic recovery policy within the framework of the Ukraine Facility program.

The purpose of the article is to substantiate the theoretical and applied concept of scaling leasing financing and the application of mathematical models for evaluating leasing agreements under uncertainty to ensure the implementation of the economic recovery policy within the framework of the Ukraine Facility program.

Results. In an applied context, leasing effectively reduces agency costs and redistributes tax shields. Practical recommendations are formulated to activate the leasing services market: reducing the share of government securities on banks' balance sheets to release liquidity for lending and leasing financing of the real sector; the expediency of directing state aid exclusively to strategic sectors of the economy, relocated enterprises and business groups that use leasing in accordance with EU state aid standards. Expanding guarantee instruments through more active implementation of credit and leasing guarantees will contribute to supporting enterprises with insufficient financial security. The advantages of applying the concept of real options, fuzzy methods and hybrid fuzzy-stochastic models for evaluating transactions under conditions of epistemic uncertainty are substantiated.

Conclusions. The research priorities include micro-fundamental models for assessing the probability of housing sales, algorithmic financial diversification of the portfolio of construction companies, and the development of standards for optimizing funding sources depending on the level of segmentation of the housing market. The transformation of financial risk management should facilitate the transition from passive price monitoring to active management of the credit channel through micro-data, stress testing, and hedging.