Financial markets globalization: the essence and impact on the regulation of national securities markets

Tetyana Zadorozhna


Introduction. In 2020, the world experienced an unprecedented crisis caused by the Covid-19 pandemic, which affected all aspects of public life, including the financial market. The negative impact of the current crisis on individual countries is exacerbated by the significant level of globalization of financial markets, which is characterized by lower regulatory barriers and rapid capital movements between national markets. The current coronavirus crisis, like a litmus test, has highlighted the benefits of good and failings of bad regulatory policies, and that countries that have responded in a timely manner to the challenges of globalization and implemented the necessary reforms, liberalizing markets and pursuing macroeconomic policies, can benefits of globalization.

Purpose. The purpose of the article is to draw conclusions based on the definition of the nature and features of globalization, methods of its assessment and potential impact on national economies in order to improve national securities market regulation policies, as well as improve cooperation between national regulators in the world.

Method (methodology). The methods of analysis, synthesis, comparison, generalization, statistical data processing, as well as a graphical method of presenting scientific results were applied.

Results. The essence, types and main stages of globalization are determined, definition of «financial globalization» is proposed, and conclusions regarding the strengthening of signs of de-globalization in the real sector of the economy in 2020, the first signs of which appeared after the arrival of Trump as President of the United States are made. Тhe negative and positive aspects of globalization impact on financial markets are analyzed, the problem aspects of regulation of national securities markets in the context of financial globalization are focused, the list of indicators for estimating dynamics and development of globalization in the financial aspect is defined.


globalization; liberalization; internationalization; financial market; consequences of globalization; capital flow

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Science Works Journal "Ekonomichnyy analiz"

ISSN 1993-0259 (Print)  ISSN 2219-4649 (Online) DOI: 10.35774/econa

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