Vladimir Lukyanov, Ph.D. (Econ.), Associate Professor, National Academy of Management (Kiev, Ukraine).
THE FINANCIAL ECONOMY IN A GLOBALIZING WORLD
This article is concerned with the current realities and development prospects of a civilization phenomenon known as the financial economy. It examines the basic imperatives of globalization changes in financial markets as the key drivers behind the rise of the financial economy. Another purpose of this article is to analyze the main sources, instruments and mechanisms of the development of the financial economy in the context of the current possibilities of national economies.
Keywords: Financial economy, financial globalization, financialization, financial markets, financial instruments.
The financial economy is a natural product of globalization. One of the basic trends of the modern economy is an intensification of cross-border financial flows that determines the rapid development of financial markets and the accumulation of huge financial resources. In developed market systems, the financial market economy is increasingly asserting itself as an essential civilization imperative that has an inevitable impact on the development prospects of modern states. The global financial and economic crisis of 2008-2009 and the debt crisis of 2011-2012 have clearly shown the importance of an objective and………