Strategic analysis of global, regional and industry trends in the development of global financial systems in a technological transformation

M. K. Khabekova ()

Russian Journal of Industrial Economics, 2020, vol. 13, issue 1

Abstract: The process of globalization has an impact on all spheres of national economics' development. Strategic trends in the active implementation and realization of innovative solutions are reflected in the global financial system. Modern enterprises regardless of industry implement a digital high-tech transformation strategy. Digital transformation doesn't mean only technological changes in the enterprises' activities. A fundamental factor in the process of strategic transformation is a change in vision, thinking, and organizational culture. Organizations and enterprises need to respond in a timely manner to changes in strategic trends and effectively use their competitive advantages. Technological transformation leads to an acceleration of business activity, reduction in operating costs and in the time and barriers for companies to enter new markets, and also allows satisfying customer needs at a higher level. The article analyzes the global strategic trends in the development of global financial systems, and also reveals features of the development of the financial industry in the context of technological transformation.Regional and industry trends are also being evaluated. The analysis of the introduction of innovative technologies in the financial system of Russia is carried out. In the course of the study, the author comes to the result that the global financial system is characterized by the active introduction of technology and innovation.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ach:journl:y:2020:id:823

DOI: 10.17073/2072-1633-2020-1-67-77

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