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The Developments in Banking Regulations - Coursework Example

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"The Developments in Banking Regulations" paper critically discusses the developments in banking regulation that have been, and continue to be, put in place as a result of the economic crisis from which the global banking industry is still recovering, and assess the likelihood of their success. …
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The Developments in Banking Regulations
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Download file to see previous pages Various financial crises have often been recurrent due to the poor response mechanisms by the local and at times the international regulatory agencies. Failures of various governments in managing trade liberalization. The governments in these cases have failed to properly introduce their national economy into the international capital market (Raghavan, 1998).

An important point to note in the issue of the economic and financial crises is that they are similarly characterized in both the developed and the developing countries. The causal factors and the manifestation of the economic crises are more or less the same across all the economies in the world (Raghavan, 1998). There are also some lessons that can be learned from the global financial and economic crises and that can be used to provide an insight into the possible preventive and management mechanisms for future crises. One lesson is that it is not appropriate to make changes in the financial system of a given country when the country is already experiencing a crisis (Raghavan, 1998). It was also observed that ‘when currency turmoil is associated with financial difficulties, raising interest rates may simply worsen the situation by bringing about widespread corporate and bank insolvencies’ (Raghavan, 1998). Besides, it has also been noted that it is often a big loss to a given economy if the currency in the economy loses value in the international money market when it had international creditors (Raghavan, 1998).

The proper management of the financial crisis requires a thorough understanding of the possible causes of the crises and the features characteristic of such situations. A reduction in the average income caused by underemployment or unemployment increases the poverty level among a given population. This coupled with an increase in the cost of living like food prices and other human needs provide a proper avenue for an economic crisis (Raghavan, 1998). ...Download file to see next pagesRead More
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