Faculty / School
Faculty of Business Administration (FBA)
Department
Department of Economics
Was this content written or created while at IBA?
Yes
Document Type
Article
Source Publication
SBP Research Bulletin
Keywords
Finance, Financial sector, Financial crisis, Pakistan
Disciplines
Business | Finance | Government Contracts
Abstract
The 2008 global financial crisis that turned into the worst economic recession across the world has led to some serious soul searching among the scholars and practitioners about the ways in which financial sector has to be regulated and supervised. There is very little doubt that the U.S. and European financial systems were badly affected and trillions of public tax dollars had to be poured into the system to avert a complete breakdown. The prompt and coordinated response of the G-8 and G-20 to the crisis was something which had not been seen before. Emerging and Developing Economies (EDEs) particularly China, India and Pakistan however survived this onslaught as well as the 1995-96 Asian crisis. It thus becomes an interesting question to explore as to why the financial systems in these countries were able to insulate themselves or at least created fire walls of safety and security that were difficult to permeate.
Recommended Citation
Husain, I. (2011). Financial sector regulation in Pakistan: the way forward. SBP Research Bulletin, 7 (1), 31-44. Retrieved from https://ir.iba.edu.pk/faculty-research-articles/228
Publication Status
Published