УДК 327:339.923] ((4) + (5?11)) JEL: 1Institute for Economics and Forecasting of the NAS of Ukraine, Research ID : http://www.researcherid.com/rid/https://publons.com/researcher/3420250/igor-piliaiev ASIAN INFRASTRUCTURE INVESTMENT BANK: ROLE AND TRENDS OF INFLUENCE ON THE INTERNATIONAL FINANCIAL SYSTEM The role of the Asian Infrastructure Investments Bank (AIIB) in the system of international financial relations is studied, the state and trends of its influence on the institutional and structural transformation of regional and global leadership are determined. The interdisciplinary-synergetic approach is applied, which combines the latest achievements of political economy, theory of international relations, global studies and transitology. Restructuring the international financial system in the context of strengthening both China's leadership position and the East Asian region’s role in the world economy and politics are analyzed. For the first time in the national academic literature the reasons for establishment, role and impact of AIIB on contemporary processes of regionalization and globalization are systemically investigated. The comparative analysis identified the advantages and disadvantages of the newly established development bank compared to the Asian Development Bank and other international financial institutions. The peculiarities of the decision-making mechanism in AIIB, especially regarding lending for infrastructure projects, in the context of influences on the bank's policy by member states, international financial and non-governmental institutions are revealed. It is proved that AIIB by its nature, strategy, membership, areas and scope of activities is an interstate multilateral financial institution not regional but global in nature and, in fact, the institutional “tip” of China's strategic geoeconomic initiative “One Belt, One Road”. A conclusion is made about AIIB’s practical readiness to finance projects for the development of transcontinental transport and logistics infrastructure in Central and Eastern Europe, including Ukraine, that raises the question of the feasibility of future accession of our country to AIIB. The expediency of combining the Ukraine – World Bank financial cooperation with the institutional and project participation in AIIB is substantiated. Keywords:Asian Infrastructure Investment Bank; Bretton Woods system; international financial institutions; development banks; global leadership.
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