MODERN TRENDS OF WORLD FINANCIAL MARKET STRUCTURAL TRANSFORMATIONS IN THE CONTEXT OF GLOBALIZATION

Abstract

Abstract. The study of the world financial market development key trends in the context of
globalization has actualized of late. The world financial market internationalization that means
the highest level of integration comes before globalization. All these processes are oriented to
the creation of national financial markets new opportunities and development prospects through
geographical expansion.
Global dimension of the integration deepens owing to the interstate financial and credit relations
development boost; competition intensification; foreign investment volumes growth; latter-
day financial innovative technologies implementation and modernization of the old ones;
new participants involvement.
Financial globalization manifestation peculiarities as an economic phenomenon, its impact
on the economies of developed countries and emerging markets require conducting comprehensive
research. The scope of the international economic system globalization is primarily determined
by the state of integration processes at the financial market and in the banking sector
in particular.
World financial market development trends are closely related to the globalization process
and consist in the transnational financial companies’ and groups establishment that integrate
banking and industrial capital. Financial relations liberalization has also promoted the financial
services trade internationalization and national financial markets integration into the world
financial market.
Key words: globalization processes, world financial market, structural transformations,
modern development trends.