Comment

Article Abstract:

The collapse of some markets in the globalization of the financial markets is an inevitable event that cannot be foreseen using the models of the past economic disasters. Market failures all have their unique causative factors and even markets that have ample aggregate savings, sound fiscal positions and investor friendly policies are bound to collapse at one time or another due to the working of economic forces that cannot be presaged by even the best economic indicator. The collapse of some markets is the sure proof that the globalization of the financial market is working and that a policy which avoids the potential problem of debt default, foreign-exchange fluctuations and banking system failures are some of the stop-gap measures to avert market collapse.

Intnl Economic Policy, International economic relations, Monetary policy

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Comment

Article Abstract:

An increasing harmonization of monetary policies and economic policies must be effected by nations if they are to survive the globalization of the financial markets. The globalization of the financial markets have blurred the measurement of economic indicators used by regulators in controlling the economy, and has given the market overall control especially in the medium term. But credit must be given to regulators who continue to use and upgrade economic indicators to monitor and control the money supply thus arresting possible inflationary pressures on the economy.

Foreign Exchange & Reserves Policy, International aspects, Money market, Money markets

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Comment

Article Abstract:

The role of central banks in the growing trend of the globalization of the financial markets would be that of effecting financial stability in addition to its role of effecting monetary stability. The systemic fragility observed in the early stages of the globalization process stems from the heterogeneity of the participants in the market, whose diversity of fiscal, monetary and economic policies govern the instability of the system rather than capital mobility.

Currency Stabilization Programs, Currency stabilization

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