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Substantial unity of manifestation and mechanisms of financial capital market organization under the world economy globalization

Vol. 25, Iss. 6, JUNE 2019

Received: 11 March 2019

Received in revised form: 27 March 2019

Accepted: 10 April 2019

Available online: 28 June 2019


JEL Classification: B24, E22, E44, F65

Pages: 1314–1327

Metel'skaya V.V. Kuban State University (KubSU), Krasnodar, Russian Federation

Subject I investigate methodological aspects of socio-anthropological, ontological and existential dominant in the development of the modern form of financial capital and organization of financial capital market in the context of the world economy globalization.
Objectives The paper defines the main forms of manifestation and the mechanism of financial capital market organization in the current conditions of financial globalization from the perspective of philosophical analysis.
Methods The study employs principles of development and interconnection, the integration approach, substantive approach, systems approach, and integrated approach that synthesizes various areas of knowledge.
Results I identify the main forms of manifestation of the financial capital market. First, it is the decoupling of financial market from the real sector of the economy (the hypothesis about divergence of financial sector from the real one). This enables high mobility of financial capital and the emergence of many TNCs. Secondly, the financial capital becomes dominant in the economy. Thirdly, the financial dominant in the behavior of participants of economic relations significantly changes their thinking. The value becomes the main priority of economic activity. Fourthly, there is a trend toward domination of global economic structures (including TNCs) as they tend to be highly diversified in the global financial market, integrate into innovative activities, concentrate their strategy on financial capital management.
Conclusions The mechanism of financial capital market organization, using the example of the domestic market implies, first of all, the development of financial technologies, legal regulation, development of digital technologies in the financial market, and transition to electronic interaction.

Keywords: financial capital, financial market, substantive approach, information and communication technologies


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