Faculty / School

Faculty of Business Administration (FBA)

Department

Department of Finance

Was this content written or created while at IBA?

Yes

Document Type

Conference Paper

Publication Date

5-22-2012

Author Affiliation

  • Dr. Ishrat Husain is Dean and Director at Institute of Business Administration, Karachi.

Conference Name

Distinguish Speaker Series 2012, Asian Institute of Finance

Conference Location

Kuala Lampur, Malaysia

Conference Dates

May 22, 2012

First Page

1

Last Page

19

Keywords

Financial industry, Financial system, Financial regulation

Abstract / Description

Why change the Regulatory Regime?

US and European Financial Systems were badly affected by the recent Global financial crisis and trillions of public tax dollars had to be poured into the system to avert a complete collapse.

The banks in Europe particularly in Spain, Greece, Ireland and Portugal are still not out of woods despite generous support from the European Central Bank in the recent months.

Financial systems in Canada, Australia and New Zealand were least affected despite their close integration into the global system.

Emerging and Developing Economies (EDEs) particularly China, India, Turkey, Indonesia, Brazil, Pakistan survived the onslaught and their economies rebounced fairly quickly. Although, Eastern European Economies did suffer

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