Importance The increasing crisis and global instability in the world economy refreshed the issues of measurement and management of the so-called global liquidity, as its uncontrolled growth may impair causal relationships in the monetary sphere and instigate new shocks in both the financial and real sector. Objectives The aim of the study is to develop adequate approaches to the concept of global liquidity, a methodology of its measurement, and create effective mechanisms to manage it at the international level. Methods In the study, I apply general scientific methods and techniques (scientific abstraction, induction and deduction, synthesis, elements of statistical analysis, comparative analysis and benchmarking) to assess the mechanism of global liquidity formation and to quantify official and private sector liquidity. Results The system analysis of global liquidity at the level of international financial institutions and the scientific community shows the absence of generally accepted single definition of global liquidity; a declining power of official monetary instruments and increasing influence of private sector liquidity under the world economy financialization; inadequate assessment of 'non-core sector' of global liquidity in developed and emerging economies. Conclusions Reputable international financial organizations should concentrate all information from national monetary authorities and predict on this basis a change in cash and financial assets for early detection of crisis.
Keywords: global liquidity, official liquidity, private sector liquidity, monetary policy, international financial institutions
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