Iryna Honcharenko

  Inna Servatynska


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.

How to Cite

Honcharenko, I., & Servatynska, I. (2018). FINANCIAL UNITY OF THE WORLD AS AN ORGANIC PART OF GLOBALIZATION. Baltic Journal of Economic Studies, 4(2), 53-57.
Article views: 356 | PDF Downloads: 102



globalization, financial globalization, financial market, single currency, financial calculations


Berezina, O.Y. & Tkachenko, Yu.V. (2017) Hlobalne partnerstvo v paradyhmi staloho rozvytku: osvita, tekhnolohii, innovatsii [Global partnership in the sustainable development paradigm: education, technology, innovation]: monograph. Cherkasy: Chabanenko Yu.A., 524 p.

Get Ready for the Phoenix Source (1988) Economist. vol. 9, 306, pp. 9-10.

Honcharenko, I. & Berezina, O. (2016) Cooperation of the bank and insurance business as an effective model: history and present day. Organizational and economic mechanisms of development of the financial system: collective monograph / edited by M. Bezpartochnyi. Riga : Landmark SIA, pp. 83-92.

Kulishov, V.V. (2013) Finansova hlobalizatsiya: sutnist i naslidky [Financial globalization: the essence and consequences] Business Inform, vol. 3, pp. 303-307.

Lukyanov, V.S. (2013) Hlobalizatsiya natsionalnykh finansovykh system: bazovi imperatyvy ta antykryzovi mekhanizmy [Globalization of National Financial Systems: Basic Imperatives and Anti-crisis Mechanisms] Finance of Ukraine. vol. 9, pp. 60-67.

Mamotenko, D.Yu. (2009) Hlobalizatsiya mizhnarodnykh finansovykh rynkiv [Globalization of International Financial Markets]. Humanitarian Bulletin of Zaporizhzhya State Engineering Academy, vol. 39, pp. 229-237.

Prasad K.R., Shang-Jin W. & Kose M.A. (2003) Effects of Financial Globalization on Developing Countries: Some Empirical Evidence. Available at: (accessed 10 April 2018).

Rousseau P.L. & Sylla R. (2001) Financial Systems, Economic Growth, and Globalization. Globalization in Historical Perspective. – University of Chicago Press, pp. 373-415.

Sheffield J., Korotayev A. & Grinin L. (2013) Globalization: Yesterday, Today, and Tomorrow. USA [in English].

Schmukler S.L. (2004) Benefits and Risks of Financial Globalization: Challenges for Developing Countries. Available at: (accessed 10 April 2018).

Ukhnal, N.M. (2015) Osoblyvosti rozvytku mizhnarodnykh finansovykh tsentriv v umovakh hlobalizatsiyi finansovoyi systemy [Features of the Development of International Financial Centers in the Conditions of the Globalization of the Financial System] Scientific Papers NDFI, vol. 2, pp. 17-32.

Zhuravel, V.V. (2010) Osoblyvosti hlobalizatsiyi svitovoyi finansovoyi systemy [Features of Globalization of the World Financial System] Bulletin of Kharkiv National University named after V.N. Karazin. Series: Economics, vol. 911, pp. 133-137.