Article | Open Access | Published: 10 July 2018
COMPARATIVE ANALYSIS OF FINANCIAL SYSTEMS IN CONTEXT OF GLOBAL FINANCIAL CRISIS
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Abstract:
Purpose: This study is aimed at analysing the relative effect of global financial crisis across diverse category countries. Methodology/Sampling: The top 50 countries of world are selected and categorized on the basis of 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 relative effect of crisis. Findings: The study finds a substantial overall effect of crisis on economic progression of sample countries. The significance divergence for different categories is, however, not observed. Conclusion: The traditional dichotomy of financial systems doesn?t matter much in modern, globalized world. The inter linkages and interdependencies among intermediaries and markets exists across globe that contributed in rapid propagation of shocks. Practical Implications: The results of study can facilitate in better and systematic choice of financial system instead of a random one.
Keywords:
Financial System, Economic Development, Global Financial Crisis, Panel Data
Publisher:
ILMA UNIVERSITY
Published:
10 July 2018
Issue:
Issue 1 : Volume 14
E-ISSN:
2409-6520
P-ISSN:
2414-8393
This is an open access article distributed under the terms of the Creative Commons Attribution CC BY 4.0 license, which permits any use, distribution, and reproduction of the work without further permission provided the original author(s) and source are credited.