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National laws for global capital markets - A contradiction?: Difference between revisions
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National laws for global capital markets - A contradiction? (view source)
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Through globalisation of capital markets the linkage between countries respectively governments has increased. But not only countries are affected. The rise of interchange of deposit money affects every participant of the globalised world. This phenomenon is no innovation of the 21st century. It was mentioned in literature before: ‘… the financial system has been changing rapidly in recent years and has now become a truly global market-place’ (Gowland (1990) p.80). The starting point may be considered in 1971/73 when foreign exchange rates were released (see below). (Group of Lisbon (1997) p.48). | Through globalisation of capital markets the linkage between countries respectively governments has increased. But not only countries are affected. The rise of interchange of deposit money affects every participant of the globalised world. This phenomenon is no innovation of the 21st century. It was mentioned in literature before: ‘… the financial system has been changing rapidly in recent years and has now become a truly global market-place’ (Gowland (1990) p.80). The starting point may be considered in 1971/73 when foreign exchange rates were released (see below). (Group of Lisbon (1997) p.48). | ||