GENESIS OF THE FORMATION AND ESTABLISHMENT OF THE WORLD FINANCIAL SYSTEM

Abstract

Abstract. Despite the fact that recently, the world has seen a significant increase in international conflicts and exacerbations, the main driving force of human development remains the globalization processes observed in various spheres of human life. Thus, one of these key areas is financial, thanks to which the free funds of individuals and legal entities are mobilized and redistributed to those areas where they have the most beneficial application. It is important to note that the financial system itself today has gone beyond national borders and has become above national, i.e. global. Thus, today it is quite difficult to imagine a closed national financial system that will function effectively independently, without interaction with other national, regional financial systems and generally within the framework of the world financial system. Ukraine is also no exception to this rule, especially in the context of the fact that our country directly depends on constant financial infusions into our economy from Western partners. That is why the study of the process of formation of the world financial system, the analysis of its constituent parts, and the determination of the stages of its development. Allows us to more thoroughly and holistically understand how it functions, what is the direction of its development and how our current financial system of Ukraine can be integrated into a more global world financial system. For our country, this issue is particularly relevant in the context of post-war reconstruction, because the creation of a favorable investment climate, the establishment of stable cash flows and their proper legal support will be the basis of further effective reconstruction. In addition, in general, the pro-European vector of development, which Ukraine has identified as a priority, requires full-fledged such integration, also within the framework of the financial sector. The analysis of the stages of the formation of the world financial system and especially the concentration of attention on its key elements enables a deeper understanding of what exactly needs to be emphasized in development, which, with an adequate state policy, can bring rapid development to our country in the post-war period.