COMPARATIVE ANALYSIS OF FINANCIAL SYSTEMS IN CONTEXT OF GLOBAL FINANCIAL CRISIS
Ghulam Mujtaba Chaudhary (),
Zaheer Abbas () and
Jamshed Khurshid Meer ()
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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
IBT Journal of Business Studies (JBS), 2018, vol. 14, issue 1, 14-8
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 doesnâ€™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 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:aib:ibtjbs:v:14:y:2018:i:1:p:14-8
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