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Financial Market in the Context of Globalization: Experience of Economic and Legal Analysis

Author

Listed:
  • Aleksandr Baykov

    (Baltic International Academy, Riga, Republic of Latvia)

  • Olha Pavuk

    (Baltic International Academy, Riga, Republic of Latvia)

Abstract

Today financial market is no longer has national character thanks to revitalization of transnational corporations, cheap labor and the development of international and supranational organizations. In relation to this important area of research, it became possible to identify patterns of modern finance market that would not only allow to substantiate the condition of financial capital but also to determine its intrinsic characteristics and forms of organization. The aim of the article is to conduct economic and legal analysis of approaches to identify the nature, characteristics and prospects of development of securities market in the context of globalization. Legal characteristics of securities that form the substance of this concept are revealed. It is discovered that in certain countries where there is no single definition of a security, its meaning can be set by transferring a number of signs contained in various norms of specific legislation. The main concepts of perception of securities are emphasized and characterized. Approaches to the classification of securities and systematized classification criteria are covered. Experience of legal regulation of securities turnover in the United Kingdom is revealed.

Suggested Citation

  • Aleksandr Baykov & Olha Pavuk, 2017. "Financial Market in the Context of Globalization: Experience of Economic and Legal Analysis," Oblik i finansi, Institute of Accounting and Finance, issue 1, pages 120-131, March.
    • Handle: RePEc:iaf:journl:y:2017:i:1:p:120-131
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    JEL classification:

    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)

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