THE IMPLICATIONS OF GLOBALIZATION ON THE EFFICIENCY AND STABILITY OF FINANCIAL SYSTEMS

International economy is marked by a multitude of substantive changes reshaping the fabric of interdependence on which it operates. The development of the information society and the continuous adaptation to rapid changes in economic structures that occur in the world puts virtually all nations in a continuous process of restructuring and transition. Two main forces, dynamic and interdependent lead this process, namely: deepening of globalization and the emergence of the global economy and the development of economic arrangements in financial systems.