Тенденції реформування світової фінансової системи

Abstract

Abstract. Introduction. The relevance of the study of trends in the reform of the global financial system is due to the fact that it is currently going through one of the most difficult and critical stages of its existence. The traditional challenges in the field of international currency circulation include the steady development of globalization of all economic processes, the development of digital technologies, as well as the impact of powerful exogenous factors such as rapid climate change and the COVID-19 pandemic, which requires a rapid and comprehensive response Purpose. In this regard, this article aims to identify key aspects of the current stage of reforming the global financial system, their general characteristics, as well as changes in theoretical and political approaches to solving problems of the global financial system from the standpoint of complexity. The main research method was the method of induction, which based on the study of a number of primary international documents, theoretical studies and research focused on the initial analysis of individual problems of the global financial system allowed to form a comprehensive vision, identify and systematize major trends in global financial system reform. Results. The article provides a brief overview of trends in global financial architecture, emphasizes the awareness of major players – politicians, international economic and financial organizations, most scholars and key bankers of central banks – the need for closer linkage of monetary and financial processes with the needs of the real economy and international trade, increasing the regulatory role of the state in financial processes, as well as closer international coordination of efforts in the financial sphere, which is especially important for an adequate response to climate change and in the fight against the COVID-19 pandemic. The impact of digital technologies and exogenous factors (climate change and the COVID-19 pandemic) has forced politicians and financiers to focus on the Global Tax Agreement and the European Union's introduction of a transboundary carbon regulation mechanism. Conclusions. The identified trends in reforming the global financial system and their key characteristics, given in this article, can serve as a starting point for further research, both comprehensive and more specialized, as well as contribute to a broader understanding of modern global financial processes in shaping financial policy and adoption management decisions/