The Current State of Financial and Regulatory Frameworks in Asian Economies : The Case of India
Abstractï»¿Despite having a low exposure to the toxic assets involved in the sub-prime crisis and a gradualist approach towards liberalization of the financial sector, certain parts of the Indian financial sector were significantly affected by the global financial crisis. The consequent tightening of liquidity and slump in global and domestic demand had a strong adverse affect on the industrial sector, a large part of which includes small and medium-sized enterprises. There was a significant decline in employment and output in some of these enterprises. Though Indian policymakers reacted in a proactive manner and introduced a host of measures to counter the adverse effects of the financial crisis, the recovery has not been uniform; several markets and sectors are still reeling from the crisisâ€™ aftershocks. The proposed Basel III norms are going to have a significant impact on the Indian financial sector. While it is in a comfortable position to meet some of the proposed Basel III norms, the implementation of some of the other norms will be a challenge.
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Bibliographic InfoPaper provided by East Asian Bureau of Economic Research in its series Governance Working Papers with number 23233.
Date of creation: Aug 2011
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Indian financial sector; financial crisis; Indian banking system; regulatory framework;
Other versions of this item:
- Gupta, Abhijit Sen, 2011. "The Current State of Financial and Regulatory Frameworks in Asian Economies: The Case of India," ADBI Working Papers 303, Asian Development Bank Institute.
- Abhijit Sen Gupta, 2011. "The Current State of Financial and Regulatory Frameworks in Asian Economies : The Case of India," Finance Working Papers 23233, East Asian Bureau of Economic Research.
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- G15 - Financial Economics - - General Financial Markets - - - International Financial Markets
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-03-21 (All new papers)
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