Regulatory clarity in the context of capital globalization

the presented study substantiates the need for revision and purposeful updating of the documentary base of international institutions responsible for controlling cross-border capital flows in order to strengthen the stability of national economies in the context of increasing intensity of global financial flows and increasing their systemic interconnectedness. The purpose of the work is to identify poorly regulated processes related to the control of international capital movements. The objectives of the work are to analyze key theoretical approaches to regulating the international movement of capital, as well as to formulate proposals for their improvement. The article also examines the practical implementation of the proposed transformation through institutionalized cooperation between states, central banks and international organizations, which involves the coordination of regulatory agreements, setting up macroprudential contours. The practical significance of the results is expressed in the development of applied tools for regulators and analysts: a set of updated recommendations for modernizing the regulatory framework, methods for assessing systemic sustainability using stress testing and network analysis of relationships, as well as operational response contours to global financial shocks aimed at reducing the negative consequences associated with uncontrolled capital flows and reducing the total costs of crisis episodes, which ultimately, increases the adaptive readiness of national economies to external shocks and strengthens their long-term financial stability.

international capital movement, reforms of international organizations, crisis management, coordination of international policy, financial stability, macroeconomic stability