Economics and Innovative Technologies


Abstract: The effectiveness of consistent economic reforms in the formation of a national economy based on a market economy depends in many respects on the gradual improvement of the elements of the corresponding economic mechanism. Especially in the current context of the global financial and economic crisis, the world economic system, which is changing in a unique way, requires the formation of a corresponding financial system. Periodic economic crises of a discrete nature in the world economy are the driving force of economic development, and each crisis and subsequent stages of development lead to the formation of an adequate economic system and the creation of a new financial "architecture". As a result, the financial system has gone through a period of evolutionary historical development and is constantly improving. Thus, the financial system is a separate component of the economic system, fulfilling the task of effective investment of existing financial resources in the sectors and industries that need it. Therefore, the national economy formed in each country and the specifics of its development are clearly reflected in the financial system. .


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