This paper examines the impact of Global Financial Crisis (GFC) on wealth inequality. We investigate this question, using data for 143 countries period 2010–2018. find no significant occurrence crisis show limited evidence that severity banking affects change in Furthermore, GFC inequality is influenced by country characteristics: has more enhanced with higher levels economic and financial deve...

Much of the debate surrounding the recent global crisis is focused on respective governments’ policy responses to the financial and economic downturn. Much less attention has been placed on the manner in which private sector businesses responded to the crisis. This study analyses the results of a survey of 284 Jamaican businesses conducted in the first quarter of 2009. It identifies the respons...

Recent crisis in the global financial world has generated renewed interests in fragilities of global financial networks among economists and regulatory authorities. In particular, a potential vulnerability of the financial networks is the ‘financial contagion’ process in which insolvencies of individual entities propagate through the ‘web of dependencies’ to affect the entire system. In this pa...

The ASEAN Free Trade Agreement (AFTA) was set up in 1993 and has already shown significant effects by 2010. This study empirically investigates the effect of trade creation on intra-ASEAN trade for the period of 1986 to 2010. Using the gravity model, we find that major determinants of bilateral trade in ASEAN are GDP, population, relative endowment, distance and common border. A dummy variable ...

recent strong growth of china’s exports has elevated the country to a rising global economic power and caused geo-political concern to policy-makers in the country and its trading partners world-wide. what are the determinants of this growth, how has it affected major economies in asean (world bank, 2009) in particular, and what kind of evidence-based responses are required and appropriate? the...

As a response to the recent global financial crisis, we witnessed a period of unprecedented central bank activism. This situation contrasts with what we experienced during the “great moderation”. This dramatic change has led many observers to discuss reevaluating the role of central banks in the new era. On the one hand, some arguments posit that central banks had forgotten a crucial task in th...

This paper aims to reveal the mechanism of Collateralized Debt Obligations (CDOs) and how CDOs extend the current global financial crisis. We first introduce the concept of CDOs and give a brief account of the development of CDOs. We then explicate the mechanism of CDOs within a concrete example with mortgage deals and we outline the evolution of the current financial crisis. Based on our overv...

The East Asian financial crisis in the late 1990s has challenged the widely-held belief that international financial markets should be deregulated. The common arguments both for and against free international capital flows are analysed and contrasted. Given the existence of various distortions and market failures in the global economy, there is a case for some degree of control. The extension a...

The financial crisis has exerted influences of different degrees within a global scope, and, in the meanwhile, has brought about definite risks to the electric charge management in electric network enterprises. This paper makes a comprehensive analysis of prominent risks and characteristic changes in electric charge management in electric network enterprises under influences of the financial cr...