Global capital markets: An updated profile

Abstract

More than two decades after the beginning of the financial revolution globalization of capital flows still attracts considerable attention, from both practitioners and academics. The aim of this paper is to contribute to understanding of some aspects of the global capital scene, as well as to emphasize certain developments which might illustrate its changing profile. Several fundamental perspectives profile the global capital market. A quantitative review provides a sense of sheer volumes, trends, origins and destinations of capital flows; an assessment of the global capital market?s degree of integration follows. The emergence of new (types of) actors is another important aspect of the global processes, while illustrations of new market products and emerging segments may add new perspectives on the profile of the global capital market. Finally, the paper concludes with a brief overview of digitalization of the financial supply chain.Vise od dve decenije od pocetka finansijske revolucije, globalizacija tokova kapitala jos uvek nastavlja da privlaci znacajnu paznju, kako prakticara tako i akademskih krugova. Cilj rada je da doprinese razumevanje odredjenih aspekta globalne scene za kapital, kao i da istakne izvesne tokove koji mogu da ilustruju njegov izmenjen profil. Postoji nekoliko osnovnih perspektiva koje opisuju globalno trziste kapitala. Kvantitativni pristup pruza senzibilniji prikaz obima, trendova, porekla i odredista tokova kapitala, kroz procenu stepena integrisanosti globalnog trzista kapitala. Pojava novih (vrsta) ucesnika je drugi znacajan aspekt procesa globalizacije, dok opisi novih proizvoda na trzistu i nastajucih segmenata daje novu perspektivu na profil globalnog trzista kapitala. Na kraju, rad se zavrsava sa kratkim pregledom digitalizacije finansijskih lanaca ponude.