The article analyzes the financial and credit imperatives of alterglobalization the emerging markets. In the study, it is researched the theory of financial globalization and there are established advantages, benefits and disadvantages of financial globalization for emerging markets. There are defined the main conditions and risks of global financial stability and there are analyzed the capital flows to emerging market economies. In the article, it is researched that the combination of declining global trade and growth would increase corporate vulnerability. It is concluded the distribution of government debt breakdown of emerging market economies in foreign currency and nonresident holdings of local currency. In the research, it is established a correlation between emerging market economy and advanced economy volatilities. In the study, it is proved that disadvantages of financial globalization include availability of crises, shocks, risks, external risks and nonliquidity. In the article, it is developed the financial-credit imperatives of alterglobalization the emerging markets and it is argued the transition of emerging markets to an alternative global model of economic development.
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