Financialization of world economy: new trends and regulatory issues

Abstract

In the study is to analyze the current systemic problems of world finance, including the dominant changes in the architecture of world finance, the expansion of the role of central banks and states in general in the regulation of the global financial market. Structural and historical analysis methods are used in the course of the study. The paradigm of the transition from the financialization of the world economy to its definancialization is determined, in connection with which the necessity of state regulation of national financial markets and cross-border movements of capital between developed and developing countries is justified. The factors and the historical evolution of the financialization of the economy have been investigated, the main consequences of financialization for the national financial markets and the global economy are identified. The destructive impact of the level of financial depth of the economy on the world economy as a whole has been proved. The need to develop national and supranational measures to regulate financial markets is justified, with the allocation of structural, institutional and monetary and financial conditions for their implementation in practice, including optimization of adoption mechanisms strategic decisions and planning, methods and tools aimed at expanding state supervision and regulation of financial markets and generally definancing the global economy and developing its real sector.