Studying the global financial system development in the modern context: methodological problems

Abstract

The article is devoted to fundamental theoretical aspects of the global financial system development under the influence of globalization processes. The aim of the study is to consider the relevance of traditional research methodology to the challenges of the global financial system at the contemporary phase, to determine problems and potential solutions for methodological problems. Changes in the global financial system under the influence of intensifying business and financial activities and the increasing uncertainty are analyzed The limitations of traditional deterministic methods are exposed and inconsistencies between these methods and the challenges of the global financial system at its contemporary phase are shown. The prospects for developing a new research paradigm in zriew of most recent globalization tendencies are outlined.

It is concluded that the uncertainty of future trends in the global economy requires change in the methodological framework, in the research standards, and in the mode of scientific thinking Only fundamental change in the paradigm of the global financial system research is able to activate theoretical thinking in this field and restore itsepistemic status, globalization, methodology, determinism, research