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Banking and Financial Markets Around the Globe

In: Cross-Cultural Practices in Business and Finance

Author

Listed:
  • Binod Sundararajan

    (Dalhousie University)

  • Oksana Shkurska

    (Dalhousie University)

  • Shannon Lin

    (Dalhousie University)

Abstract

We begin by looking briefly at the history of banking systems around the globe. It is well known that the banking industry is regulated by each country’s government and for good reason. A failure in banking and financial markets has detrimental effects on a country’s economy and thus standard of living. We then describe how the systems are similar and different in each major economy and the implications of these differences. We then explore the equity and debt markets, how they developed in various centers, and how they have become closely linked across the globe. The freeing of capital flow between countries coupled with the availability of the internet and instantaneous information, in addition to cheap trading has made financial markets accessible to more investors than it ever has. Unfortunately, high volatility and financial bubbles are consequences of active trading and (relatively) free money flows around the globe and will be here to stay. Finally, we will also discuss how technology has profoundly impacted the way banking is done.

Suggested Citation

  • Binod Sundararajan & Oksana Shkurska & Shannon Lin, 2023. "Banking and Financial Markets Around the Globe," Springer Books, in: Cross-Cultural Practices in Business and Finance, chapter 0, pages 109-120, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-06440-1_7
    DOI: 10.1007/978-3-031-06440-1_7
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