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Evolving regulations and emerging market challenges -- the Indian context

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  • G. Padmanabhan

Abstract

The global financial crisis of 2007--2008 has led to important regulatory changes being initiated by a number of countries to segregate commercial banking from investment banking activities. The changes also encompass reforms in the OTC derivatives market segment, which is considered to be one of the root causes of the crisis. This article highlights the important regulatory change initiatives that are being undertaken to enhance the safety of the financial markets, their likely impact on the market participants and challenges to be faced in their implementation, especially in the Indian context. The article also analyses the changes taking place in the Indian forex derivatives market and touches upon the prospects of greater internationalization of the rupee against the backdrop of proactive steps taken by the Chinese authorities to internationalize renminbi in the post-crisis period.

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  • G. Padmanabhan, 2014. "Evolving regulations and emerging market challenges -- the Indian context," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 7(1), pages 195-204, March.
    • Handle: RePEc:taf:macfem:v:7:y:2014:i:1:p:195-204
    DOI: 10.1080/17520843.2013.870222
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    References listed on IDEAS

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    1. Anat Admati & Martin Hellwig, 2013. "The Bankers' New Clothes: What's Wrong with Banking and What to Do about It," Economics Books, Princeton University Press, edition 1, volume 1, number 9929.
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