We construct and explore a new quarterly dataset of 12 traditional financial ratios for defaulted banks. The retrospective comparative analysis of bank-specific early-warning indicators’ predictive power for 2 samples of problem banks over 2008–2012 and 2014 periods was conducted. The survey results reveal the most appropriate early-warning signals, which are useful for credit rating methodologies, and can improve the quality of systemic risk monitoring in the banking sector. The best predictors of defaults proved to be traditional indicators of profitability and liquidity, the share of retail deposits in the liabilities, and qualitative factor of the bank's ownership structure. Insufficiently indicative predictive ability was demonstrated by the simplified indicators of capital adequacy and assets quality.

Key words:
Banks, bank default, early-warning indicators, banking crises, systemic risk.

The article analyzes the direct impact of factors on employment in the context of the three sectors directly related to the tourism sector in Greece (air transport, hotels and restaurants, leisure sector) with the regression and correla-tion analysis. The regression models take into account the impact of the number of nights spent by non-residents in hotels, tourism export growth, GDP growth, inflation, the dynamics of the real effective exchange rate, the increase in ex-penditures on tourism by the EU citizens. Indirect impact of international tourism on employment in other sectors is estimated as well.

Key words:
International tourism, Greek tourism, development, employment, air transport, hotels and restaurants, leisure sector.

The Fortaleza Declaration and the environment of the global financial and credit institutions, including the BRICS of New Development Bank are analyzed. The theoretical and practical aspects of overcoming the economic imbalances and political risks of BRICS countries in making appropriate decisions in global finance are accumulated.

Key words:
BRICS, Fortaleza Declaration, New Development Bank, the pool of foreign exchange reserves, beneficiary countries, donor countries.

Approaches to economic reforms in Ukraine since independence are con-sidered. It is shown that they were half and created the conditions for oligarchic economy. Two trends which were of pro-Western or pro-Russian orientation had dominated in the reformist movement. The idea of systematic changes in the economy, which also must cover all political, legal, social and economic institu-tions, pre-reform of which should be a court reform is developing. Qualities that should be inherent by reformers are forming. Reforms should bring down oligar-chic system and provide change in the direction of the country of export orienta-tion from the Russian market to the Europe, Asia and America one. The idea ac-cording to which the center of reform initiatives should be a system of Education, which should encourage the inclusion of Ukraine in scientific leadership especially in the military-industrial complex, the achievement of which are able to create a chain reaction effect and spread to other industries is substantiated.

Key words:
Reforms of Ukraine, sectoral reforms, reform concepts, innovative economy.

This work reveals the essence of tourism as a component of the economy as a whole, and as a specific means of spiritual self-enrichment of the individual. Here is going to characterize tourism potential of Ukraine, allocate objects in-cluded in the UNESCO World Heritage List, as well as those that are attractive to tourists. Special attention is paid to the historical and cultural heritage and muse-ums. This article will substantiate causes of inefficient usage and possible solu-tions. Among the last ones stands out innovative cluster approach to the devel-opment of tourism. Nature tourism cluster and its components are covered quite extensively. Particular attention is paid to the role of this cluster in generating in-novative environment area. Intended ways to accelerate the development of tourism cluster on the ba-sis of innovation. It is emphasized that to achieve this it is important to ensure innovation, new technologies in each of the components of the tourism cluster.

Key words:
Innovation, innovative environment, tourism cluster, globalization, tourism market, management, marketing.

The problem of marketization of education and research NPOs in the con-text of Ukrainian financial paradigm has been elucidated in the article. It has been proved that the following areas of marketing activity are relevant for the domestic business education and research: increased market orientation of non-profit education and research, as market orientation is applicable for Ukrainian universities though it is not always carried out properly; development of markets (one of the directions of the educational markets both in Ukraine and Europe is lifelong learning and adult education, the latter, however, is not wide spread in Ukraine, the development of distance learning, attracting foreign students from less developed countries); organization of effective marketing in order to improve the quality of education and reduce the gap between the supply of educational services market and demand in the labor market. The analysis of definitions of «marketing of educational organizations» has revealed some similarities as well as own definition has been suggested. A number of peculiar features of the elements of the complex of marketing of educational organizations have been presented.

Key words:
Marketing, non-profit organization, education and research, educational service, distance learning, labor market.