raja slot
raja slot
slot deposit pulsa tanpa potongan
slot gacor 2024
raja slot
raja slot
raja slot
Dr O. S. Deol
,
Abstract

Recently the International Monetary Fund has highlighted risks of a new financial crisis, cautioning that global output could be cut by 3.9% over the next five years by a repeat of the market turmoil witnessed during the 2008-09 recession. The emergence of new shocks such as U. S. monetary policy tightening; adoption of negatives interest rate policies by European central banks, Bank of Japan, and the sharp drop in oil and other commodity prices have highlighted the vulnerability of economies across the globe to volatile capital flows and trade related shocks. The East Asian financial crisis in 1997 and the global financial crisis in 2008 compelled the world community to devise the ways to avert or at least mitigate the impact of such financial crises in future. The efforts in this direction have been made by improving the macro-prudential policy underpinning the supervisory and regulatory framework for financial markets both at individual economy level and multilateral institutions level.

This paper discusses the financial crisis of 1997 in the East Asia and the global financial crisis of 2008 in context of the causes responsible and the lessons learnt.  The paper then take a look on supervisory and regulatory framework adopted in Asia keeping in view the two financial crises. The improvement in the financial stability in the Asian region is assessed of the basis of certain stability measures. The paper finally assesses the vulnerability to such crises in future in Asian region.

KEYWORDS: Financial stability, global financial crisis, macro-prudential policy, financial regulations and supervision

JEL classification Number: G 01, G 28, F 55

Keywords:
Journal Name :
EPRA International Journal of Economic and Business Review(JEBR)

VIEW PDF
Published on :

Vol : 6
Issue : 11
Month : November
Year : 2018
Copyright © 2024 EPRA JOURNALS. All rights reserved
Developed by Peace Soft raja slot