JEL classification: E58; G21
Introduction. In the current economy, developed countries have created effective mechanisms to support economic development. Today, favorable conditions have already been created for the participants development in the banking sector, but it is foreign experience that is of considerable interest both for the formation of domestic participants in the banking sector and for the security of the national economy as a whole.
The purpose of the article is to study the mechanisms of participants development in the banking sector in various countries of the world, analysis of approaches to corporate governance and participants development in the banking sector.
Results. Processes of mechanisms formation of participants development of the banking sector in national economies of various countries in the world are investigated. It is determined that foreign experience is an incentive for the formation of their own domestic approaches and mechanisms for the participants development in the banking sector. Theories of participants development in the banking sector are studied. It is determined that due to the removal of most administrative and legislative restrictions and the introduction of such a set of measures, most of the countries of Western Europe have taken a leading position at the present stage of the world economy development in terms of business development and economic security indicators of participants in the banking sector of the economy. It is shown that creating an effective system of corporate governance, banks face the need to solve many specific issues in addition to those that are dealt with by joint-stock companies operating in the real sector of the economy.
Conclusions. Based on the research, it was revealed that the organization of corporate governance is mainly used in banks in Europe and the United States, and in practice, such a system of organizing the work of the above banking institutions is directly described by the monistic concept.
Keywords: banking system, development mechanisms, management approach, banking sector, success rating.
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The article was received 05.01.2020