FINANCIAL INNOVATION: THEORETICAL DISCOURSE

Анотація

The article is devoted to the essence of financial innovations and their economic nature, which primarily reflects innovative developments in the financial segment of the global market, which are implemented in cash and cover mainly significant qualitative changes in organizational, economic and institutional support of financial and credit, financial instruments and financial business practice, as well as the activities of financial institutions. The generalization of methodological and conceptual principles of various theories of financial markets suggests that each of them has its advantages and "bottlenecks" and has performed a historical function in shaping scientific views on financial innovation, their economic nature and mechanisms for implementation in the global process. reproduction of the social product. At the same time, each direction of the theoretical discourse of financial innovations has always been a kind of reaction to the transformations of the capitalist market system and the world financial market, which they have undergone at every stage of world economic progress. At the same time, the theoretical discourse of financial innovations is still in the so-called pre-paradigmatic stage of the study of systemic processes of innovation in the global financial sector. This stage is characterized by the presence of separate concepts of financial innovations and the practice of their implementation in the absence of a single, recognized by all members of the scientific community of their comprehensive theoretical justification. This raises the question of finding world economic science qualitatively new conceptual contours of the study of financial innovations and alternative models of world economic development, taking into account the latest paradigm of financial globalism. In our opinion, the choice of the most effective model should organically integrate on its conceptual platform all constructive elements of previous theories of financial innovation research with their corresponding adaptation to perspective structural changes of the world financial market due to irreversible impact of financial globalization on the international economic system.

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