Volume 14 Issue 1 2018


Ghulam Mujtaba Chaudhary
Assistant Professor, Department of Business Administration, University of Kotli, AJ&K Ph.D Scholar, International Islamic University, Islamabad, Pakistan.

Zaheer Abbas
Assistant Professor, Faculty of Management Sciences, International Islamic University, Islamabad, Pakistan.

Jamshed Khurshid Meer
Senior Manager for Portfolio Management & Investment, Standard Chartered Bank, Ltd, Karachi.

Abstract This study is aimed at analyzing the relative effect of the global financial crisis across diverse category countries. The top 50 countries of the world are selected and categorized based on financial structure and economic development level. The empirical analysis is based on panel data methodology and appropriate dummies are inserted to capture overall as well as the relative effect of the crisis. The study finds a substantial overall effect of the crisis on the economic progression of sample countries. The significance divergence for different categories is, however, not observed. The traditional dichotomy of financial systems doesn’t matter much in a modern, globalized world. The interlinkages and interdependencies among intermediaries and markets exist across the globe that contributed to the rapid propagation of shocks. The results of the study can facilitate in better and systematic choice of the financial system instead of a random one.
Keywords Financial System, Economic Development, Global Financial Crisis, Panel Data
Year 2018
Volume 14
Issue 1
Type Short Report
Recognized by Higher Education Commission of Pakistan, HEC
Category "Y"
Journal Name IBT Journal of Business Studies
Publisher Name ILMA University
Jel Classification F01, G00, G01
ISSN no (E, Electronic) 2409-6520
ISSN no (P, Print) 2416-8393
Country Pakistan
City Karachi
Institution Type University
Journal Type Open Access
Type of Review Double Blind Peer Reviewed
Format PDF
Paper Link
Page 95-109
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