FINANCIAL GLOBALIZATION

BILORUS Oleh ¹

¹Institute for Economics and Forecasting of the NAS of Ukraine
OrcID ID : https://orcid.org/0000-0003-0731-5649

Political world system of financial and economic globalization: new trends and patterns of global financial sector

The article deals with problems of theory of international (global) political economy related to the world system of financial and economic globalization at the current stage of global economic development. Patterns and new trends of the global financial sector are revealed. Contradictions, internal conflicts and prospects of the global financial system and global financial markets are shown. The attempt to forecast global place and role of the financial sector in terms of global economy and global economic processes of reproduction is made by author. Scientific recommendations on the development of national strategies of transitive countries in their integration into the global financial market, as well as in the active conduct of national policies of participation in the process of financial globalization and financial neoconvergence to improve global competitiveness are formulated. The author raises the question of the existence of objective law of unevenness and asymmetry of global financial and economic development and its system-crisis character. The article emphasizes the special role of endogenous factors and sources of financing of the economy and development of national financial markets. The need to develop and implement national strategies for financial security and the safety of social and economic development of the transitive countries is emphasized.

Keywords: political economy, the world system of financial and economic globalization, the global financial sector, transitive countries, financial neoconvergence.

JEL: F60, F63, F65.

Bilorus O. . Political world system of financial and economic globalization: new trends and patterns of global financial sector / O. . Bilorus // Фінанси України. - 2015. - № 5. - C. 7-15.