The impact of the pandemic on digital transformation is considered. It is determined that in international business, digital technologies destroy traditional competitive advantages and create new ...business models. It has been proven that the development of digital strategies will increase the ability of businesses to provide customers with a personalized experience focused on their behavior. We concluded that digital transformation requires changing the business processes, business models, strategies, customer relationships, employee experience and culture.
The analysis of the financial technologies introduction has proved that their application over-complicates the institutional structure of the global financial system. As a result, usual functional ...relationships cease to operate, new institutes and interdependencies appear, and systemic risks increase. In this context, the system instability increases, resulting in a transition to a new institutional status. The analysis of the financial technologies impact on the stability of financial system shows that the lack of institutional support for new financial technologies is the most important catalyst for the financial industry destabilization and the formation of financial bubbles in various market segments. The ways to reduce the negative impact of financial technologies on the financial system stability (such as development of international prudential standards; revision of the licensing regime for financial companies; “regulatory sandboxes”, which test new technologies, business models and algorithms underlying the Fintech innovations; legal regulation of ownership of digital tokens; and clear definition of the blockchain technology in various areas of life, etc.) have been proposed.
The trends of the global stock market under financial singularity are identified. The current institutional deformation of the financial system is the evidence of a new stage in its evolution.
The paper discusses the meaning of economic indicators as of a system of quantitative characteristics describing the functioning and development of an economy. The role and significance of economic ...indicators both in the system of economic sciences and in economic, political and socio-cultural practices of a society are revealed. The dual nature of economic indicators is exposed. It is shown that, on the one hand, they constitute the information base for making and implementing economic and political decisions by economic actors, thus representing a factor that reduces uncertainty and minimizes risks of their activities. On the other hand, economic indicators may give a distorted picture of the reality and/or be used as means of external pressure on actors aimed at realizing not the actors' interests but rather the interests of those who generated the information. Based on that, it is suggested that the most productive methodological framework for examining and interpreting economic indicators is a rhetorical approach to economics. Examples of applying the most common rhetorical techniques (devices) for using and interpreting economic indicators are given and discussed.
Introduction. The current state of the global stock market is characterized by increasing instability of global development. The main reasons of this instability are the disparity of growth between ...developed and emerging countries, and increasing debt in the public and financial sectors of the countries. Purpose of the article is to determine the dynamics of the global stock market in terms of global uncertainty. Results. Global stock market analysis suggests that the dynamics of various segments of the global stock market does not depend on the economic situation in some countries. It depends on the actions of the central banks (especially the Fed) that are actively pursuing a policy of quantitative easing. However, the main goal of the monetary stimulus is not to grow market share, but to improve the banking system functioning and loans activation. The last factor will lead to an increase in GDP and reduce unemployment. If the main goal is not the quantitative easing achievement, it becomes a superficial measure. In addition, the monetary incentives bring imbalances in the various economic sectors and regions development. We found trends of financial instability increasing in the markets when the Fed of the USA starts raising the interest rates. Conclusion. Desynchronization of the different countries stock markets dynamics indicates strengthening of fluctuations on the global level. This leads to the economic growth weakening and the situation on the stock markets deterioration. The mentioned processes become the major risks in the global economy. As a result, the stock markets and the world economy become very vulnerable to a new crisis. Nevertheless, many investors tend to be very optimistic and continue to ignore the monetary tightening risks. The analysis led us to conclusion that the stock markets and the global economy are extremely vulnerable to a new crisis due to continuous increasing of the speculative bubbles burst probability that has emerged in the markets.
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