Characteristic Features of the Development of the World Financial Market at the Current Stage
Journal Title: Проблеми економіки - Year 2014, Vol 2014, Issue 3
Abstract
The objective of the article is analysis of the development of the world financial market and determination of its trends and lines of development of nonbank financial institutions. Basic developmental trends of the world financial market are singled out and analyzed on the basis of reports of the US Economic Security Council, the European Central Bank, the International Organization of Securities Commissions. The role of nonbank financial institutions in the world financial market is determined. The effect of economic reforms in the countries of Eastern and Central Europe is studied with a view to applying their experience in Ukraine. Thus, primary developmental trends of the world financial market are: increasing volume of trade in financial services; increasing share of financial services in the international service turnover; increasing employment in the financial services sector; establishment of a single mega-regulator of the financial market; integration of information technology and financial services; high merger and acquisition activity in the nonbank financial institutions sector; expansion and utilization of outsourcing on the world financial market; inception of the disintermediation and deglobalization processes. Further study prospects in this field consist in the establishment of tendencies in the development of the financial market, in particular, nonbank financial institutions of Ukraine and their conformity with the world financial market.
Authors and Affiliations
Yevgeniia Polishchuk
Keywords
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