2025

European Research Studies Journal

Rocznik: 2025 | Tom: Vol. XXVIII | Numer: Issue 4

artykuł naukowy

angielski

EN The purpose of the article is to provide a comprehensive analysis of the determinants of contemporary economic instability and to identify mechanisms and tools for managing financial market security in conditions of growing global, technological, and systemic threats. The article also presents promising practices and prospects for developing financial security architecture at both national and international levels. Design/methodology/approach: The study uses a critical analysis of the literature, a comparative analysis of financial regulations, and a review of reports from supervisory institutions (European Central Bank (ECB), European Securities and Markets Authority (ESMA), International Monetary Fund (IMF), Bank for International Settlements (BIS)). A systemic approach to market risk assessment and a qualitative analysis of crisis management examples from recent financial crises were employed. The research problem was formulated as follows: How do contemporary economic, regulatory, and technological conditions affect the level of financial market security and the effectiveness of supervisory tools? The research hypothesis posits that effective management of financial market security necessitates the concurrent strengthening of the regulatory framework, the development of analytical tools, and adaptation to new technologies, as only their simultaneous use enhances the financial system's resilience to crises. Findings: The analysis indicates that contemporary financial markets operate in an environment of permanent instability, where systemic, credit, and liquidity risks mutually reinforce each other. Despite growing global integration, the stability of financial institutions is strongly dependent on the quality of supervision and the adequacy of regulatory tools. FinTech, AI, blockchain, and regtech technologies enhance the effectiveness of supervision, but at the same time, they generate new areas of risk, particularly in the realm of cybersecurity. Examples of crisis response measures following the COVID-19 pandemic and the collapse of selected systemic banks demonstrate that rapid coordination between regulators is crucial in preventing crises from escalating. Practical implications: The study's results highlight the need to strengthen the macroprudential framework, develop tools utilising data analytics, enhance the cyber resilience of the financial sector, and further enhance crisis management mechanisms. Regulators and supervisory institutions can utilise the article's recommendations to strengthen the stability of the economic system. Originality: The originality of the article lies in the integration of three perspectives: macroeconomic, regulatory, and technological, which allows for a more comprehensive picture of financial security. The conclusions and recommendations presented are based on both regulatory analysis and practical international experience, which highlights their practical applicability.

10.11.2025

940 - 951

10.35808/ersj/4153

https://ersj.eu/journal/4153

Bibliografia, netografia na stronach 950-951.

CC BY (uznanie autorstwa)

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08.09.2025

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