A few comments have been made for this paper, please follow the suggestions:   If the focus is on how all or most financial systems evolve, there needs to be specific sources that support that.  If the focus is narrower - that needs to be clear.  I am also puzzled by some of your sources.  For example: Fenn, D. J., Porter, M. A., Williams, S., McDonald, M., Johnson, N. F., & Jones, N. S. (2011). Temporal evolution of financial-market correlations. Physical review E, 84(2), 026109. Why is a paper like this in a Physics Journal?   Sometimes, finance papers that can not get published in finance journals get published in other kinds of journals.  Unfortunately, the editors of such journals often lack the expertise to select the best finance papers to publish. Porfir'ev, B. (2016). Green trends in the global financial system. Mirovaya ekonomika i mezhdunarodnye otnosheniya, 60(9), 5-16. Or more basically, what is this journal? Sarkar, V., & Khaparde, S. A. (2008). A comprehensive assessment of the evolution of financial transmission rights. IEEE Transactions on Power Systems, 23(4), 1783-1795.  I've heard of this journal, but why is a finance paper in it, and also, what are financial transmission rights? Your conclusion is weak. The body of the paper is great: it is well researched and well written. But a conclusion is the last information the reader will take from your paper, and I think you could end on a better note. I recommend you extend your conclusion to be able to overview all of what you have discussed in the paper, so the reader can tie everything together. Tighten up your thesis. This isn't an argumentative paper, so you don't really need a true thesis, but I think having a two-three sentence thesis at the end of the introduction that serves as a starting point for what you are going to talk about in the rest of the paper would be helpful. Instead of "this paper seeks to discuss the evolution of the financial system" I recommend you outline briefly exactly how they have evolved.