The strategy of activating the mechanism of markets and financial and banking institutions in the era of globalization

Abstract

Markets and financial institutions in various countries of the world play a “pioneering” role in the national economy by attracting savings and directing them towards investment in various economic activities. There was and still is a large gap between the reality and nature of markets and financial institutions and their level of performance in both developing countries and their counterparts in developed countries due to the lack of equal opportunities, material and technical capabilities, and the volume of activity in each of them. Globalization is based on the openness and integration of global markets, and money and information technology are its most important pillars and foundations, and multinational companies, the International Monetary Fund, the World Bank, the Bank for International Settlements, and the global trade system are its most important tools. The markets and financial institutions in developed countries enjoy high efficiency and great technical and material capabilities compared to their counterparts in developing countries. Therefore, the former dominated the overall economic activity in the world and it became necessary for those markets and financial institutions in developing countries, including Iraq, to ​​work hard to develop their work and raise the level of efficiency of their performance. Using advanced and appropriate financial methods, frameworks and strategies and enhancing its ability to innovate and innovate, which enhances its role in the national economy, leads to its survival and development, and strengthens its competitive position, which increases its ability to face the challenges of globalization imposed on it. The research was divided into an introduction and three sections. The first section dealt with the theoretical aspect of the research Which included both the research methodology, the concept of globalization and its nature, and efficient markets and financial institutions, while the second section was concerned with clarifying the reality of markets and financial institutions in the Arab world and Iraq.