EFFECTS OF GLOBAL ECONOMIC AND FINANCIAL REFORMS ON DEVELOPING ECONOMIES: A REASSESSMENT

Falaye, Adebanjo Joseph and Ahmed, Ayodele Victor (2016) EFFECTS OF GLOBAL ECONOMIC AND FINANCIAL REFORMS ON DEVELOPING ECONOMIES: A REASSESSMENT. Researchjournali's Journal of Finance, 4 (1). pp. 1-10. ISSN 2348-0948

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Abstract

This paper aims at creating the necessary awareness that could bail out developing economies from continuous living in squalor. It highlights the major global economic and financial reforms as championed by the Basel III standards stipulated by Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS), which G-20 instigated. The paper presents a brief history of what led to Basel III standards and the lessons from it. It presents the Basel III global capital adequacy requirements and the relativity of the reforms to developing countries’ banking institutions. In conclusion, suggestions are made on what the way forward ought to be for the developing countries. Summarily, there is the view that economic and financial reforms should not hamper, but enhance economic growth in the developing countries. Hence, the need to end the stunting roles that local economic and financial regulators play to compare with their peers in the developed economies.

Item Type: Article
Subjects: H Social Sciences > HG Finance
Depositing User: Dr Adebanjo Joseph Falaye
Date Deposited: 13 Jul 2017 09:35
Last Modified: 13 Jul 2017 09:35
URI: http://eprints.lmu.edu.ng/id/eprint/961

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