Abstract

Globalisation and regionalism in the world economy and changes in the functioning of the world financial system caused regional financial crises in the 1990s. The possibility for their spreading, which provoked a search for a model of a new financial architecture and an analysis of the causes for financial crises, is studied, as well as their impact on other regions and countries. Upon studying the development of regional integration, methods for evaluation, forecasting and possible prevention of consequences of these crises are sought, especially for countries striving for accessing integration communities, mostly the European Union.