Banking Industry in the Global Market: Foregrounds of an Everlasting Evolution

Mario Pinesa

Economic Research-Ekonomska Istraživanja, 2013, vol. 26, issue 1, 257-276

Abstract: The present financial crisis, starting in the year 2000 with the dot.com bubble break out, lately evolved into something very peculiar and different from any previous historical cyclical turmoil, as considered in our political economy models: Classical, Austrians, Keynesians Monetarist and post Keynesians. Such approaches cannot be seen as appropriate to explain an epochal change in the world economy but simple temporary economic disorders. The new age of turbulence, as Greenspan used to say Greenspan (2007), seems to require a central authority as a regulator of most financial flows and markets and a framework of new rules related to new financial products, new trading rules of markets and financial institutions, mostly banks and trading platforms to pursue the long hoped goal for economic growth in general stability background.Recently, the overlapping prevailing global market has shadowed most local markets and productions, as some low cost Asian Countries industrial production hubs have globally crowded out most western industrial areas.

Date: 2013
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DOI: 10.1080/1331677X.2013.11517601

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