The mechanism of integration of the Ukrainian stock market in the world stock market

¹ National University of Life and Environmental Science of Ukraine, Heroiv Oborony, 11, 03041, Kiev, Ukraine
² Batumi Shota Rustaveli State University, Ninoshvili, 35, 6010, Batumi, Georgia
³ Zhytomyr National Agroecological University, Staryi Blvd, 7, 10008, Zhytomyr, Ukraine

^* Corresponding author: george.abuselidze@bsu.edu.ge

Abstract

The article is devoted to structuring and improving the methodological foundations of the mechanism of state regulation of the stock market. Priority directions for the development of the stock market are determined in order to strengthen its role in stabilization of the national economy. As a result, a structural and functional model of stock market operation in the system of economic development of the country was elaborated. It involves ensuring the legitimate access of national companies to the global stock markets while attracting foreign investors to the Ukrainian stock market. The authors argue that the mechanism of the national stock market integration involves several stages: from enhancing international cooperation primarily with the stock markets of countries that are strategic partners, subsequent full participation in regional and subregional integration associations of stock markets, up to global integration in the world stock market as a priority direction for the development of the domestic stock market in the context of stabilization of the national economy.