CHANGES IN THE WORLD FINANCIAL MARKETS UNDER THE INFLUENCE OF CURRENT GEOECONOMIC IMPERATIVES

Abstract

Increasing uncertainty in the global economy and increasing turbulence in the international capital market pose global risks to financial markets, especially in the current pandemic crisis. Utilizing the benefits of financial globalization while minimizing its risks requires both the application of specific measures to regulate capital inflows and outflows and the implementation of systemic comprehensive economic reforms based on successful models and examples of developed countries and developing countries. The modern methodological concept reveals the patterns of evolution of financial market models. Global corporatization, regional localization and institutional organization of financial markets are the main geoeconomic imperatives that affect the change in the formats of financial markets. From a geoeconomic standpoint, regulatory mechanisms for the stable and transparent functioning of financial markets make the global financial system more flexible. The new configuration of international financial organizations outlines new guidelines through the implementation of the developed methodological steps of economic policy of emerging markets. Globalization in the modern world has strongly influenced the competition between countries for investment, technology, jobs, so developing countries need to clearly define the goal, path and quickly implement such a transformation, which would be based on comprehensive socio-economic reform and strategy of increasing national competitiveness. With comprehensive and clearly defined priorities and reforms, the financial markets of emerging and developing countries will have the prospect of development and the ability to counter the negative effects of financial globalization in the world.