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Comparative Analysis Of Financial Systems In Context Of Global Financial Crisis

Author

Listed:
  • Ghulam Mujtaba Chaudhary

    (Assistant Professor, Department of Business Administration, University of Kotli, AJ&K Ph.D Scholar, International Islamic University, Islamabad, Pakistan)

  • Zaheer Abbas

    (Assistant Professor, Faculty of Management Sciences, International Islamic University, Islamabad, Pakistan)

  • Jamshed Khurshid Meer

    (Senior Manager for Portfolio Management & Investment, Standard Chartered Bank, Ltd, Karachi)

Abstract

Purpose This study is aimed at analysing the relative effect of global financial crisis across diverse category countries.Methodology/Sampling The top 50 countries of world are selected and categorized on the basis of financial structure and economic development level.The empirical analysis is based on panel data methodology and appropriate dummies are inserted to capture overall as well as relative effect of crisis.Findings The study finds a substantial overall effect of crisis on economic progression of sample countries.The significance divergence for different categories is, however, not observed.Conclusion The traditional dichotomy of financial systems doesn’t matter much in modern, globalized world.The inter linkages and interdependencies among intermediaries and markets exists across globe that contributed in rapid propagation of shocks.Practical Implications The results of study can facilitate in better and systematic choice of financial system instead of a random one.

Suggested Citation

  • Ghulam Mujtaba Chaudhary & Zaheer Abbas & Jamshed Khurshid Meer, 2018. "Comparative Analysis Of Financial Systems In Context Of Global Financial Crisis," IBT Journal of Business Studies (JBS), Ilma University, Faculty of Management Science, vol. 14(1), pages 95-109.
    • Handle: RePEc:aib:ibtjbs:v:14:y:2018:i:1:p:95-109
    DOI: https://doi.org/10.46745/ilma.ibtjbs.2018.141.8
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