TRANSFORMATION CHANGES IN THE FINANCIAL MARKET

Анотація

The article deals with the essence of the financial market, its role in the national economy, directions of interaction between the financial and real sectors.The model of functioning of the financial market, characterized by the growing importance of the financial sector in the economy, against which there is a separation of financial services from the real sector of the economy, an increase in the share of speculative transactions in the financial market, which lead to significant fluctuations in business activity.The outlined signs also reveal the deformation of the economic role of the financial market, which also involves the transformation of the financial market from an infrastructure component of the economic system into an element that is able to influence the market conditions of goods and services, the stability of the entire economic system as a whole.The authors investigated the content and characteristics of transformation, examines the factors and mechanisms of development of transformational processes in the financial market, their impacts on macroeconomic stability and economic growth.The essence of the financial market lies in the sale of financial resources, which are created in the process of distribution and redistribution of national income in the form of money at all levels of management and flows in economic agents, which can be both investors and borrowers in the financial market, thereby creating supply and demand.Price of financial resources is the interest rate, which is a fee for use, which is also determined by the risk that arises in various segments of the financial market.It is the probability of price deviation from equilibrium gives rise to speculation in the financial market, that is the reason for the deformation of the economic role of the financial market.The process of transforming financial capital into fictitious capital and virtual creates a separation from the real economy, the production sector, which leads to the transfer of financial capital in speculative capital, which ceases to serve the manufacturing sector by taking her under his complete control.

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