GCC Financial Markets in the Wake of Recent Global Crisis

2013 ◽  
pp. 139-155
Author(s):  
Mazin A. M. Al Janabi
Keyword(s):  
Financial Markets ◽  
Global Crisis

The Fiscal Response to the Global Crisis

2009 ◽  
Vol 34 (3) ◽  
pp. 47-52
Author(s):  
Errol D'Souza
Keyword(s):  
Financial Markets ◽  
Global Economy ◽  
Financial Integration ◽  
Global Financial Crisis ◽  
Global Crisis ◽  
Fiscal Stimulus ◽  
Subprime Mortgage ◽  
Direct Exposure ◽  
The Global Financial Crisis ◽  
Lack Of Commitment

India's banks had no direct exposure to the subprime mortgage assets. Yet India was affected by the global financial crisis as its economy has significantly integrated with the global economy in the recent past in terms of the globalization of trade and financial integration. The global crisis resulted in a reversal of capital flows to India and a slump in the demand for its exports. This caused a deceleration in growth and the policy response was a fiscal and monetary stimulus that resulted in the fiscal deficit being the highest since 1993–94, the revenue deficit that is the largest ever in India's history, and an aggressive reduction in monetary policy rates. The massive government borrowing programme has resulted in a hardening of the yield on government securities which adversely affects aggregate output. As financial markets have factored in a lack of commitment to fiscal correction, the intentions of the fiscal stimulus have been impeded. The fiscal stimulus lacks sustainability, states Errol D'Souza.

FINANCIAL STRESS IN ASEAN-5 ECONOMIES FROM THE ASIAN CRISIS TO THE GLOBAL CRISIS

2012 ◽  
Vol 57 (02) ◽  
pp. 1250013 ◽  
Author(s):  
BOON HWA TNG ◽  
KIAN TENG KWEK ◽  
ANDREW SHENG
Keyword(s):  
Principal Component Analysis ◽  
Financial Markets ◽  
Equity Markets ◽  
Financial Stress ◽  
Principal Component ◽  
International Markets ◽  
Asian Crisis ◽  
Predominant Role ◽  
Global Crisis ◽  
Stress Indices

We construct four market-specific Financial Stress Indices (FSIs) and overall FSIs for the ASEAN-5 economies from 1997 to 2009. Using the FSIs, we establish stylized features of financial stress and characterize the connectivity of financial markets. The results show that stress was most severe during the Asian Crisis, followed by the Tech Burst and the recent Global Crisis. Principal component analysis (PCA) demonstrates that regional connectivity is strongest in equity markets, implying their predominant role in the transmission of stress within the region. Meanwhile, Singapore possesses the lowest connectivity within the ASEAN cluster, but the highest to international markets.

Financial Crisis and the Prospects of Global Regulation

2011 ◽  
pp. 97-105
Author(s):  
V. Tambovtsev
Keyword(s):  
Financial Crisis ◽  
Financial Markets ◽  
Financial Regulation ◽  
Strict Liability ◽  
State Regulation ◽  
Global Regulation ◽  
Global Crisis ◽  
Liability Rules ◽  
Economic Agents

Challenges in the sphere of financial regulation created by the global crisis of 2008-2009 are discussed. Advantages of the mechanism based on strict liability rules for deterring economic agents negligent behavior on financial markets are validated. The possibilities for applying the mechanism in the sphere of state regulation are analyzed.

scholarly journals Economies of Turkic Republics after 2008 Global Crisis and their Commercial Relations with Turkey

2010 ◽  
Author(s):  
Müslüme Narin ◽  
Akın Marşap
Keyword(s):  
Growth Rate ◽  
Financial Markets ◽  
Great Depression ◽  
Economic Crisis ◽  
World Economy ◽  
Developing Economies ◽  
Real Economy ◽  
Global Crisis ◽  
Developed Economies ◽  
The Great Depression

In 2008, world economy has faced with the largest crisis, since the great depression in1929. The economic crisis, which started at financial markets, has turned into dramatic occasion in the second half of 2008 and got under control real economy. As a result of globalism, this crisis has affected developing economies as much as developed economies. Growth rate of Turk Republics and Turkey has decreased with the effect of the crisis. The aim of this paper is to analyze Turkic Republics economies after global crisis and their commercial relations with Turkey. By this way, first the causes of the global crisis and its effects on world economy will be focused and then, all of the economical situation of the Turkic Republics and global crisis has affected on its will be discussed. Finally, Turkic Republics commercial relations with Turkey will be inquired.

Evidences for Price Discovery between On- and Off-shore Won/Dollar Spot, Forward and NDF FX Rate

2016 ◽  
Vol 24 (2) ◽  
pp. 339-363
Author(s):  
Ki Beom Binh ◽  
Sang-min Lee ◽  
Won Seop Lee
Keyword(s):  
Financial Markets ◽  
Exchange Rates ◽  
Price Discovery ◽  
Mutual Influence ◽  
Dollar Spot ◽  
Information Share ◽  
Global Crisis ◽  
Exchange Rate Fluctuations ◽  
Spot Exchange Rate ◽  
Fx Market

Using Hasbrouck’s (1995, 2002) information share method, we examine the mutual price discovery dynamics among Won/Dollar spot, forward, and NDF exchange rates in on- and off-shore FX markets. Our findings include : (i) During the entire period, the mutual price discovery between on-shore FX market and off-shore NDF market are significantly led by on-shore Won-Dollar spot and forward exchange rates. (ii) Within the period around the global crisis, NDF exchange rates have mutual influence on the price discovery, which is expecially greater than the any other period. The results show Won-Dollar spot exchange rate fluctuations during the global crisis are greatly affected by external factors of the international financial markets. Not only that, but off-shore NDF trading promptly reflects the price information of KRW on the factors.

scholarly journals Juridical Tools of Governmental Nature Used to Mitigate Various Difficulties of the Financial and Budgetary System

2014 ◽  
Vol 61 (2) ◽  
pp. 133-148 ◽  
Author(s):  
Ionel Bostan
Keyword(s):  
Financial Markets ◽  
Financial System ◽  
Sustainable Growth ◽  
Standard Of Living ◽  
Global Crisis ◽  
Financial Products ◽  
Business System ◽  
Executive Authority ◽  
Specific Manner ◽  
Specialized Institutions

Abstract The lack of supervision and thorough regulation of the financial system, by virtue of the exercise of the principle of laissez-faire, is likely to lead to imbalances with destructive consequences on the standard of living and savings of the population. The global crisis which started in 2007 is the most illustrative example in this regard. This has highlighted the inability of the regulatory and supervisory institutions to adapt to the realities of the market. As a result, nowadays authorities are still concerned with restoring the balance between the freedom of the markets, firms and financial products and their appropriate regulation. The anticipated result: the installation of the sustainable growth. This requires the existence of a more transparent financial system, with severe rules in accounting/accounting reporting of assets and a mechanism for ensuring the integrity of the financial markets. We must assert that lately there has been a certain intensification of the intervention of the executive authority/government by juridical means (government ordinances and decisions) in the economic and business system, due, as we will show, to the deterioration of the financial problems. Therefore, in this paper we seek to emphasize the specific manner in which the national executive authority was involved in the direction shown. Obviously, we address the topic from the perspective of the economic and financial legislation, also considering the budgetary aspects and, to some extent, certain elements of impact. To this end, we used the most recent law and economic/financial bibliography, reports issued by prestigious specialized institutions and also the substantiation notes drafted by the governmental factors when adopting normative acts of the type described above, as the issue in question concerned us over the last five years.

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