Dmytro Tkachenko

The deposit insurance market is an essential subsystem of Ukraine’s financial infrastructure. The study aims to evaluate the development of deposit insurance in Ukraine based on the depth of deposit insurance, the implementation of the deposit guarantee function, the activity of the banking system and to identify their impact on the development of deposit insurance at various stages.
To determine the periods of deposit insurance in Ukraine, it was proposed to use the methodological toolkit of cluster analysis, having carried out the following stages: selecting input-defining features, variable standardization, applying the Ward procedure for the formation of clusters-periods, and financial and analytical interpretation of the results and characteristics of the periods obtained. Approbation of the proposed scientific and systematic approach allowed drawing conclusions regarding four stages of the development of deposit insurance in Ukraine from 2005–2020: completion of the formation (2005–2007), formedness and activity (2008–2013), performance under pressure (2014–2016), stabilization (2017–2020). While the first two stages, completion of formation and formedness and activity, were followed by a synchronous and slight increase in the level of the depth of the insurance system, the implementation of the deposit guarantee function and the activity of the banking system, the period of performance under pressure and the stabilization period demonstrated a desynchronization between the components.
The completion of the formation of deposit insurance (2005−2007) was followed by a synchronous and slight increase in the level of the depth of the insurance system, the implementation of the deposit guarantee function and the activity of the banking system.

Acknowledgment
Alina Bukhtiarova gratefully acknowledges financial support from the Ministry of Education and Science of Ukraine (0120U100473).
We are thankful to the Czech government support provided by the Ministry of Foreign Affairs of the Czech Republic, which allowed this scientific cooperation to start within the project “Enhancement of the PhD Students Potential For Qualitative Research In Ukraine”.