The article examines theoretical approaches to structural modernization of the economy and reveals the key role of the financial sector in ensuring sustainable economic development. The main scientific concepts of modernization, including industrial, innovative, institutional, sustainable and digital approaches, are considered. Special attention is paid to the mechanisms of functioning of the financial sector as a source of investment resources and a tool for capital redistribution. It is proved that the banking system, the capital market and digital financial technologies are the most important drivers of structural transformation. The conclusion is made about the need for further development of the financial infrastructure to accelerate modernization processes.
Feruza et al. (Tue,) studied this question.