CURRENT TRENDS OF FINANCIAL GLOBALIZATION

Abstract

A significant factor that reflects the state of international relations and the development of the world community are the processes of globalization, which involve a large number of countries that differ in their economic and political development. The process of formation of the global economy and financial globalization cannot be avoided. A characteristic feature of financial globalization is the possibility of free movement of financial capital, the formation of a single market and close cooperation between countries. That is why it is necessary to determine the priorities of Ukraine's participation in globalization, in order to use it to increase the competitiveness of the domestic economy and create effective mechanisms to minimize its negative consequences. Globalization is a leading factor in revolutionary trends in the modern economy. With the development of foreign economic relations between countries, there are more and more opportunities to spread first national and then world product. The degree of positive impact of globalization processes depends on the place and role of each country in the world environment. The globalization of financial markets involves the removal of barriers between domestic and international markets and the development of multifaceted links between sectors, so the concept of stability is fundamental to the modern world economy, because without a sufficient level of stability of national and global financial markets financial sector. As noted above, the process of globalization has spread most in the financial sector. Information technology has made it possible to connect the world's financial centers, reduce the time of transactions and reduce their cost. The wave of mergers and acquisitions in developed countries and the deregulation of the economy in the last decades of the last century have led to the emergence of financial holdings. The financial market began to develop from its own sources, separating itself from the real economy. The state loses control over the movement of private capital, which determines the economic situation in most countries. A new global decision-making mechanism is being formed with a new composition of participants.