Financial globalization represents an important form of economic globalization and is a process of interconnection of basic segments of financial markets at national and international level. It is expressed through increasing the volume and intensity of financial flows, which is determined by opening of national financial markets, level of financial leverage and financial integration. Also, it is aggregated form of international financial integration, which refers to increasing global connections created through cross-border financial flows. The carried out research demonstrate, that certain basic features of financial globalization are in fact prerequisites for triggering international financial crises. The amplification of financial globalization increases the instability in the international financial system and the probability of international financial crises. Knowing this allows the facilitation of predicting international financial crises and reducing their contagion effect