Deglobalization as a Challenge for the Institutional Development of the Financial Market of Ukraine

Abstract

The purpose of this article is to study the challenges caused by deglobalization processes and analyze their impact on the institutional development of the Ukrainian financial market. The focus is on ensuring the stability of the financial system, introducing innovations, and deepening integration into the European and global financial space. The study uses comparative legal analysis, which made it possible to outline the peculiarities of financial institutions' adaptation to changes in the global economic environment. In addition, economic analysis was used to assess the impact of deglobalization processes on key indicators of the Ukrainian financial market. Using the generalization method, conclusions were formulated regarding the prospects for further development of the financial system in conditions of economic turbulence. The issues raised in the article are extremely relevant in the context of modern geopolitical realities, given the transformation of global economic relations, the consequences of military actions, and changes in the structure of international trade and finance. Ukraine faces the need to respond quickly to these changes and develop an effective financial market development strategy that meets the requirements of the times, ensures its stability, and promotes its gradual integration into international financial systems. The article analyzes the impact of deglobalization on Ukraine's domestic financial market. The importance of creating a transparent and effective regulatory environment as a prerequisite for increasing investor confidence, reducing risks, and stimulating financial flows is emphasized. Limited liquidity, an imperfect legislative framework, and delays in implementing necessary reforms are identified as key obstacles to market development. In this context, practical recommendations are proposed, in particular on accelerating regulatory changes, improving financial education of the population, and stimulating investment in the digital transformation of the financial sector. The prospects for harmonizing Ukrainian financial legislation with European standards as one of the priorities for ensuring stable economic growth are considered separately. In conclusion, it is emphasized that the strategic development of Ukraine's financial system in the context of deglobalization requires a comprehensive approach that combines stability, innovation, and close international cooperation.