...oduce it provided the source is acknowledged. We will appreciate if a copy of reproduced materials is sent to us. 4 Fixing Global Finance Contents Ac... ... Fixing Global Finance Contents Acronyms 6-7 Data Notes 8 1. The Unfolding of Global Financial Crisis 9 2. The Global Financial Crisis and Developing ... ...nds in International Finance and Developmental Implications 30 4. The Rise of New Global Players 36 5. Financial Derivatives and the Globalization of ... ...rket-rate (or prime rate) loans because of their low income or poor credit history. Lenders relaxed their lending criteria for borrowers: loans were s... ... sheets, mortgage lenders had little incentive to verify borrowers’ credit history. Securitization also helped lenders free up capital for more lendin... ...uffered the worst financial crisis in its 24 Fixing Global Finance modern history. Its GDP contracted by 18 percent and unemployment reached 20 perce... ...h as Siemens or Vodafone might do by investing in a manufacturing plant or telecommunications network), but in order to sell them on at a profit as so...

...The financial crisis which erupted in mid-2007 has been widely viewed as the most serious financial crisis since the Great Depression of the 1930s. The crisis which originated in developed countries quickly spread to developing countries and the rest of the world. The turbulence in financial systems was followed by a significant reduction in real economic a...

...1. The Unfolding of Global Financial Crisis 2. The Global Financial Crisis and Developing Countries 3. Recent Trends in International Finance and Developmental Implications 4. The Rise of New Global Players 5. ...