The Regulatory Response to Globalization of Financial Flows

Stephany Griffith-Jones
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Stephany Griffith-Jones: University of Sussex

Chapter 7 in Global Capital Flows, 1998, pp 157-170 from Palgrave Macmillan

Abstract: Abstract As has been discussed in more detail in Chapter 2, (see also Griffith-Jones 1993), during the last decade, the size and structure of financial markets has undergone profound changes. First, financial markets have become increasingly globalized and integrated. Secondly, the size and influence of financial markets increased markedly throughout all countries. Thirdly, there has been an important trend for dissolution of functional boundaries, particularly between banking and securities activities, leading to the creation of increasingly complex institutions, which integrate traditional banking services with various types of securities and, more recently, with the provision of insurance. Fourthly, there has been a vast expansion of available financial instruments, facilitated by the explosion of information technology. Finally, there was a greater institutionalization of savings, that provided a base for the expansion of securities markets, their push towards internationalization and integration of markets.

Keywords: Financial Market; Credit Risk; Capital Requirement; Market Risk; Banking Regulation (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-26912-9_7

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DOI: 10.1007/978-1-349-26912-9_7

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