Міжнародні фінанси в умовах глобалізації

Ihor CHUGUNOV; Halyna KUCHER

doi:10.31617/zt.knute.2020(113)05

Authors

Ihor CHUGUNOV Kyiv National University of Trade and Economics https://orcid.org/0000-0003-4915-1267
Halyna KUCHER Kyiv National University of Trade and Economics https://orcid.org/0000-0002-1714-5623

DOI:

https://doi.org/10.31617/zt.knute.2020(113)05

Keywords:

international finance, globalization, dollarization, currency relations, international capital movement, global financial centers, national banking system, international financial and credit institutions.

Abstract

Background. The international finance in the conditions of globalization is providing the strengthening for international cooperation and activity of supranational institutions, up growth volumes of foreign trade, and development of digital technology. It is important to identify the factors that influence and determine the development of international finance.
The aim of the paper is to develop the theoretical and methodological approaches to defining the determinants of globalization's impact on the development of international finance.
Materials and methods. It was used a system of scientific methods and approaches, which allowed to achieve the study goal, in particular: system method –for disclosing approaches to the evolution of international financial relations and substantiation of the determinants of their development; methods of scientific abstraction, structural, analysis and generalization are used for the study of the dynamics and features of the functioning of individual segments of international finance.
Results. The development of international finance reflects the growth of financial potential countries and the global GDP. The new general principles in society development are forming in the condition of globalization. The international finance makes for “blurring the borders”, acceleration of calculations and the movement of capital. It has deepened the system of interrelations of the architectonics of international finance and it is forming a new matrix of their relations. The financial and banking technologies of settlements play an important role in the conditions of globalization.
The emergence and functioning of global financial centers accelerated the movement of international financial flows. There is an accumulation of significant financial resources at the disposal of TNCs, TNPs, TNBs in the world. The dollarization of the nation's economy and rapid development of Internet digital technologies affect the volumes of foreign economic activity, and individual sovereign and global risks.
International financial institutions play an important role in stabilizing global development, financing the strategic goals of the world community, counteracting and overcoming financial-banking crises, etc.
Conclusion. The deepening of integration processes in international finance strengthens the influence of general and specific factors. The adaptability of the international finance system provides a new global matrix of financial relations and its institutional architecture. Transparency, stability, and development of national financing and banking systems and international financial-credit institutions play a significant role in ensuring sustainable development in the world.
The development of the institutional environment should ensure the effectiveness of international cooperation and the use of financial resources, the protection of national sovereignty, and national security.

Author Biographies

Ihor CHUGUNOV, Kyiv National University of Trade and Economics

Doctor of Economics, Professor, Head of the Department of Finance

Halyna KUCHER, Kyiv National University of Trade and Economics

Doctor of Economics, Associate Professor, Professor at the Department of Finance

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