VIRTUALITY OF FICTITIOUS CAPITAL IN MODERN CONDITIONS
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The article discusses "financialization" – the process of transformation of financial capital into fictitious and virtual capital and its separation from the real manufacturing sector. It shows a tremendous growth in the financial sector in the last decades of the 20th century and the beginning of the new century and growing segmentation of financial instruments due to financial innovations, aimed, among other things, at evading government regulations, which increase their influence on the trends in the real and financial sector, leading to the creation of conditions for the emergence of financial crises and financial "bubbles". We study the market of derivative securities, its dynamics and impact on the economy of Ukraine.