Globalised Financial System and Its Impact on Indian Business
National Seminar: Paper Presentation
On
Globalised Financial System and Impact on Indian Business
Miss. Reshma Ramesh Nirbhavane
Mr. Makarand M. Dharkar
Roll no. -15
Roll No. 13
First Year MMS/MBA Student
C.K Thakur Institute Management Studies,
New Panvel - Navi Mumbai.
Reshu87_19@yahoo.com
GLOBAL FINANCIAL SYSTEM
Definition
The global financial system (GFS) is the financial system consisting of institutions and regulators that act on the international level, as opposed to those that act on a national or regional level. The main players are the global institutions, such as International Monetary Fund and Bank for International Settlements, national agencies and government departments, e.g., central banks and finance ministries, private institutions acting on the global scale, e.g., banks and hedge funds, and regional institutions
HISTORY OF FINANCIAL GLOBALIZATION
The history of financial institutions must be differentiated from economic history and history of money. In Europe, it may have started with the first commodity exchange, the Bruges Bourse in 1309 and the first financiers and banks in the 15th–17th centuries in central and western Europe. The first global financiers the Fuggers (1487) in Germany; the first stock company in England (Russia Company 1553); the first foreign exchange market (The Royal Exchange 1566, England); the first stock exchange (the Amsterdam Stock Exchange 1602).
Milestones in the history of financial institutions are the Gold Standard (1871–1932), the founding of International Monetary Fund (IMF), World Bank at Bretton Woods, and the abolishment of fixed exchange rates in 1973. |
Massive growth have been noticed in global economy in the last couple of years, and in the field of technology, more precisely in transport and communications there was a silent revolution which made the globalization of finance an obvious choice. The International Monetary Fund (IMF) and World Bank are the two international institutions of finance
On
Globalised Financial System and Impact on Indian Business
Miss. Reshma Ramesh Nirbhavane
Mr. Makarand M. Dharkar
Roll no. -15
Roll No. 13
First Year MMS/MBA Student
C.K Thakur Institute Management Studies,
New Panvel - Navi Mumbai.
Reshu87_19@yahoo.com
GLOBAL FINANCIAL SYSTEM
Definition
The global financial system (GFS) is the financial system consisting of institutions and regulators that act on the international level, as opposed to those that act on a national or regional level. The main players are the global institutions, such as International Monetary Fund and Bank for International Settlements, national agencies and government departments, e.g., central banks and finance ministries, private institutions acting on the global scale, e.g., banks and hedge funds, and regional institutions
HISTORY OF FINANCIAL GLOBALIZATION
The history of financial institutions must be differentiated from economic history and history of money. In Europe, it may have started with the first commodity exchange, the Bruges Bourse in 1309 and the first financiers and banks in the 15th–17th centuries in central and western Europe. The first global financiers the Fuggers (1487) in Germany; the first stock company in England (Russia Company 1553); the first foreign exchange market (The Royal Exchange 1566, England); the first stock exchange (the Amsterdam Stock Exchange 1602).
Milestones in the history of financial institutions are the Gold Standard (1871–1932), the founding of International Monetary Fund (IMF), World Bank at Bretton Woods, and the abolishment of fixed exchange rates in 1973. |
Massive growth have been noticed in global economy in the last couple of years, and in the field of technology, more precisely in transport and communications there was a silent revolution which made the globalization of finance an obvious choice. The International Monetary Fund (IMF) and World Bank are the two international institutions of finance