EXCHANGES AND WAR: HISTORICAL PARALLELS AND THE UKRAINIAN CASE

Abstract

Purpose. The aim of the article is to reveal the trends of the influence of the large-scale military invasion of Russia into Ukraine on the stock exchanges of the countries participating in the war, in particular, and the world stock markets in general, based on the analysis of the dynamics of stock exchange prices on securities rates. Methodology of research. The theoretical and methodological basis of the research is the position of modern economic theory, scientific works of scientists. In the research process, general scientific and special methods were used, in particular: dialectical, monographic and systemic analysis – to substantiate the essence of the stock market; analysis and synthesis – for studying the object and subject of research; comparative analysis – to compare economic indicators in time and space; graphic – for a visual display of the dynamics of exchange prices for securities rates; abstract and logical – during the formation of theoretical generalizations, assumptions, conclusions. Findings. Peculiarities of changes in exchange prices for securities rates during two centuries are considered. The trends of the influence of Russia's large-scale military invasion of Ukraine on the stock exchanges of the countries participating in the war in particular and the world stock markets in general have been revealed. The influence of past wars on the dynamics of changes in prices and exchange rates of stock exchange assets has been studied. The feature of digitalization of the world economy is emphasized, in particular, the importance of cryptocurrency exchanges on financial markets. Originality. The importance of cryptocurrency exchanges in the context of military operations is substantiated, in particular the activity of the Binance exchange in evading sanctions by the Russian military. Practical value. The main results of the conducted research will create favourable conditions for a better understanding of the role of cryptocurrency exchanges in the modern conditions of economic activity of business entities and countries. Key words: financial market, stock exchange, security, stock trading, cryptocurrency exchange, cryptocurrency market, Binance, military invasion.