Legal

The Impact Of The Global Crisis On South Asia

Free registration required

Executive Summary

The financial crisis that began with problems in the sub-prime mortgage market in the United States (US) and spread around the world in September 2008 marked the first global financial crisis of the 21st century. Indeed, what appeared initially to be a difficult, yet seemingly contained problem, turned into a rapid meltdown of the US financial system? The devastating impact on the balance sheets of many of the leading investment banks - despite the "Virtues" of transferring risk from bank balance sheets under the "Originate and distribute" model of banking - quickly propagated across major financial centers. In an attempt to reduce the large counter-party credit risk, banks began calling in loans, including those in seemingly riskier emerging markets.

  • Format: PDF
  • Size: 262.6 KB