FINANCIAL UNITY OF THE WORLD AS AN ORGANIC PART OF GLOBALIZATION

Iryna Honcharenko () and Inna Servatynska ()
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Iryna Honcharenko: Department Finance, Cherkasy State Technological University, Ukraine
Inna Servatynska: Department Finance, Cherkasy State Technological University, Ukraine

Baltic Journal of Economic Studies, 2018, vol. 4, issue 2

Abstract: The purpose of the paper is to determine the current features and phases of the formation of the financial unity of the world as an organic component of globalization and to identify the features of financial globalization in this context. Methodology. The list of the research methods of the subject under consideration includes the monographic method, analysis, techniques of the abstract-logical method, etc. Results. The urgency of the article is that the development and spread of globalization processes is a necessity to study the processes of forming a financial unity on a global scale, as a phenomenon that can have both positive and negative consequences. It is proved that the financial unity of the world is an integral part of globalization. The stages of formation of the financial unity of the world are determined. The positive and negative consequences are specified. Despite the assumption about possible negative manifestations of the financial unity of the world, acceleration of its offensive in the final, perfect form will allow providing significant advantages for global economic development. Practical implications. The main idea of the article was to justify the expediency of providing and using the financial unity as the instrument for development taking into account the prospects of globalization for national, regional economics, enterprises, and communities. Value/originality. The conducted research allowed highlighting the positive and negative effects of financial unity and financial globalization, as its manifestation, in the global economic system as important characteristics of the evolution and the current state of world financial architecture.

Keywords: globalization; financial globalization; financial market; single currency; financial calculations (search for similar items in EconPapers)
JEL-codes: F36 G11 G22 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:bal:journl:2256-0742:2018:4:2:8

DOI: 10.30525/2256-0742/2018-4-2-53-57

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