GLOBAL MONITORING OF FINANCIAL INDICATORS OF DEVELOPMENT AND INNOVATION AS A PREREQUISITE FOR WARNING OF FINANCIAL CRISES

Abstract

Despite the existing developments that reveal the problems of the financial sector and financial innovations, it is worth focusing our research on such points. It is worth doing detailed monitoring of financial indicators at the level of many countries from different parts of the world, which reflect the state of financial innovation. In addition, a relevant study related to the monitoring of financial indicators is the analysis of indicators on which the stable development of society depends. It is also worth not only displaying the dynamics of financial indicators over a long period of time, but also trying to show the forecast values of such indicators in the coming years. It is this approach that will allow us to form a certain vision regarding the prevention of financial crises in the future. The article examines the indicators of net lending, gross debt and cyclically adjusted balance of payments of the countries for the period 2007-2024, and also indicates the corresponding forecast indicators for 2025-2027. The monitoring was carried out and the prospects for the development of the field of financial innovations for the countries for 2007-2027 were determined. We also investigated the need to track and understand current financial innovations that will allow us to counteract the manifestations of financial crises in the future. It was confirmed as a result of research into the state of innovation of individual states (in particular, the Fintech sphere) that precisely those countries that invest in the development of scientific and technical developments have the opportunity to develop the economy faster. It is established that the financial sector of innovation has changed significantly from the model of traditional corporate banks to powerful ecosystems of banking and non-banking markets. It has been confirmed that the prospects for the development of Blockchain technology in the field of finance are that such technology will allow the financial sector to further develop in the direction of security, stability and reliability, and therefore prevent the occurrence of financial crises in the future. It was revealed that financial innovations can exist and develop at the same time and other financial indicators can deteriorate (increase in debt and budget imbalance). Therefore, in order to understand and prevent crises, it is worth developing an appropriate level of tracking and forecasting the smallest changes in financial indicators at the global level.