摘要：The article studies the process of financial globalization.The major objective is to study the main paradoxes of financial globalization – the phenomenon of "home bias” and the paradox of "Feldstein-Horioka".Assessment of the paradoxes of financial globalisation is especially important during depression periods,which are taking place in the world economy,because their analysis makes it possible to evaluate the stage of development of the globalisation process as well as its ability to develop even under the conditions of economic depression.The study results in stating that international financial crises of the 1990s did not affect the international investors' confidence in the perspectives of financial globalization.It is proved by the growing mobility of international investment capital and also by the investors' wish to diversify the portfolio of securities by purchasing securities issued in different countries.Apparently,under such conditions financial crises can be considered an additional powerful stimulus for financial globalization rather than a barrier for its development.
关键词：The article studies the process of financial globalization.The major objective is to study the main paradoxes of financial globalization – the phenomenon of "home bias” and the paradox of "Feldstein-Horioka".Assessment of the paradoxes of financial globalisation is especially important during depression periods,which are taking place in the world economy,because their analysis makes it possible to evaluate the stage of development of the globalisation process as well as its ability to develop even under the conditions of economic depression.The study results in stating that international financial crises of the 1990s did not affect the international investors' confidence in the perspectives of financial globalization.It is proved by the growing mobility of international investment capital and also by the investors' wish to diversify the portfolio of securities by purchasing securities issued in different countries.Apparently,under such conditions financial crises can be considered an additional powerful stimulus for financial globalization rather than a barrier for its development.
