MODERN APPROACHES TO ENSURING FINANCIAL SYSTEM STABILITY IN A CHANGING FINANCIAL AND DIGITAL LANDSCAPE

Abstract

This article examines the pressing need to ensure the resilience of the financial system amid macroeconomic instability caused by prolonged Russian military aggression, the transition to a recovery trajectory, and subsequent development trends.
While long-term development on a self-sustaining financial basis is a goal, the immediate priority is identifying sources of stability in the context of modern dynamics. The article clarifies the importance of theoretical and methodological frameworks, as well as specific functional aspects, that shape the financial system’s development.
Resilience is highlighted as a crucial property of the financial system, ensuring its survival and the fulfillment of its inherent functions. The roles of financialization and digitalization in enhancing system resilience are also examined. It is emphasized that changes in financial system resilience stem from the evolving financial and digital landscape, influenced by globalization and digitalization processes.
The article notes the ability of individual economic entities to impact their own financial resilience and the broader financial system by implementing balanced strategies that rationalize the benefits and risks of digitalization, while considering global financialization trends. In ensuring system resilience, emphasis is placed on the capabilities of individual entities and financial subsystems to adapt to digitalization’s impact, balancing technical, technological, and informational components, each with unique characteristics and effectiveness.
It is concluded that the flexible response of economic entities to modern transformation trends, facilitated by the adaptation of specific mechanisms and management actions, is vital for achieving and maintaining financial system resilience amid the changing financial and digital landscape.