Abstract
The article is devoted to structuring and improving the methodological foundations of the mechanism of state regulation of the stock market. Priority directions for the development of the stock market are determined in order to strengthen its role in stabilization of the national economy. As a result, a structural and functional model of stock market operation in the system of economic development of the country was elaborated. It involves ensuring the legitimate access of national companies to the global stock markets while attracting foreign investors to the Ukrainian stock market. The authors argue that the mechanism of the national stock market integration involves several stages: from enhancing international cooperation primarily with the stock markets of countries that are strategic partners, subsequent full participation in regional and subregional integration associations of stock markets, up to global integration in the world stock market as a priority direction for the development of the domestic stock market in the context of stabilization of the national economy.
Highlights
At present, economic growth requires sufficient financial resources for the restructuring of the economy
The degree of integration of the domestic stock market to the world one is manifested in a high level of volatility, which determines its dependence on globalization processes in the world economy and indicates the need to improve the stock market infrastructure
The implementation of integration mechanisms is possible only provided that the priority directions of development of the Ukrainian stock market are substantiated based on the world experience
Summary
Economic growth requires sufficient financial resources for the restructuring of the economy. The trends of the modern world economy include the objective process of increasing the role of the stock market in the economic development of the country. In the present context of qualitative improvement of market relations, an important macroeconomic task of the stock market is related to the mobilization of disparate financial resources, their accumulation and transformation into productive capital. In order to effectively allocate financial resources to different sectors of the economy, to endure the financing of the state budget deficit, to improve the investment climate, to encourage stock exchanges to form integration structures with other stock market participants, as well as to achieve positive economic and social results, it is important to realize the potential of the stock market. The implementation of integration mechanisms is possible only provided that the priority directions of development of the Ukrainian stock market are substantiated based on the world experience
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