The global financial crisis and regulatory responses: Implications for banks in Hong Kong

Abstract

The 2007-2009 global financial crisis was caused by many factors and requires comprehensive international regulatory responses and effective coordinated actions by governments, policy-makers central banks, regulators and the business community worldwide. This paper addresses the global financial crisis and regulatory responses to prevent further occurrences. We conducted a short survey to determine the relevance of these global regulatory reforms to banks and businesses in Hong Kong. Taken together, these regulatory responses and insights from survey participants suggest reforming and strengthening the resilience of financial systems, reducing broader effects of bank failure, protecting investors and consumers, improving banking systems in order to prevent further occurrences of financial crisis.

Publication Title

International Journal of Applied Business and Economic Research

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