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Finance and Credit
 

On some regularities of adaptive development of modern securities markets

Vol. 23, Iss. 34, SEPTEMBER 2017

PDF  Article PDF Version

Received: 21 July 2017

Received in revised form: 7 August 2017

Accepted: 22 August 2017

Available online: 19 September 2017

Subject Heading: Securities market

JEL Classification: G01

Pages: 2061–2074

https://doi.org/10.24891/fc.23.34.2061

Lakhno Yu.V. Rostov State University of Economics, Rostov-on-Don, Russian Federation
lachnojulia@gmail.com

Importance The securities market of each country is unique. There are some common characteristics of the development of modern securities markets: globalization, uncertainty, sustainable development, working with large volumes of data.
Objectives The paper aims to point out the regularities of the adaptive development of modern securities markets.
Methods The methodological basis of the study consists of the systems approach, institutional-evolutionary approach, the work of the founder of the Organization Theory A. Bogdanov and the creator of the Theory of Adaptive Markets A. Lo.
Results The article reveals the regularities of adaptive development of modern securities markets. They are differentiated depending on their ability to affect the development of the real sector of the national economy.
Conclusions and Relevance There is a great dependence of the modern financial markets on foreign investors with the speculative strategy. That is why the analysis of adaptive development of modern securities markets is important for national economic security. Some patterns of adaptive development of modern securities markets will be replaced by the opposite in the future, due to cyclicity of the economic system. But some are irreversible, due to the evolutionary development of systems.

Keywords: securities, regulator, green bonds, algorithmic trading, Initial Public Offering

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