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Essay / Research Paper Abstract
This 3-page paper answer some questions about the impact of financial institutions on globalization and potential trends in the finance industry during the next several years. Bibliography lists 3 sources.
Page Count:
3 pages (~225 words per page)
File: D0_MTfinglo.rtf
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Unformatted sample text from the term paper:
global economy Global integration hasnt necessarily made the banks of the world into one huge bank -- but its gone a long
way of going in that direction. Financial markets themselves seem to be integrated, whether countries are developed or emerging markets (Askari, 2004).
One reason for this is because the concept of globalization, in and of itself, means global economic and financial integration -- in other words, the process in which countries become
more like one country, because barriers are removed, and goods, services and capital are free to flow across borders without impediment (Askari, 2004).
But financial institutions dont operate in a vacuum -- there are two international institutions that direct finances and these are the International Monetary Fund and the World Bank Group
(Askari, 2004). Basically, financial institutions have impacted the global economies by opening previously closed economies (such as those in China and Eastern
Europe), increasing financial flows across borders, thanks to developments in technology and communication, and helping to open up markets of developing countries (Askari, 2004). The IMF, in the meantime, is
charged with creating rules to help create and ensure the stability of the international monetary system, while the World Bank is responsible for allocation of various financial resources (Askari, 2004).
Discuss how the financial services industry is likely to change over the next decade Financial institutions once served local or regional stakeholders
and businesses. However, with a global economy (and an international monetary system) this is no longer the case. Given this, Kelkar, et al (2005) describe the following trends and make
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