EVOLUTIONARY DEVELOPMENT OF THE FINANCE AND STABILITY OF THE MODERN FINANCIAL MARKET

The paper analyzes structural alterations in the financial and economic environment and systematizes the institutional environment of a modern financial market. The analysis focuses on the types of financial innovations and their impact on the qualitative state and stability of the financial system. The paper and investigates the principal causes of a financial crisis 2008–2010. The author critically analyzes the neoliberal economic policy, specifies its abstractness and deep internal contradictions. The paper indicates the main forms of expression of financialisation of the modern economy. On the example of the US economy, it is shown that the structural imbalances formed over the past decades and led to the system crisis phenomena. On the basis of interrelation between the finance and business sector, we reveal the stages of development of the capitalist system. It is proved that the instability is the manifestation of endogenous factors in the development of financial and economic system. The theoretical-methodological and practical approaches to the formation of a modern financial policy are actualized.