...ary Fund 16-17 3. The Collapse of Trade Finance 26 4. The Foreign Exchange Market in India 62 5. Exotic Currency Derivatives Trap Small Exporters in I... ...ce 2008, the world economy is in the midst of a severe crisis. The housing market meltdown which was triggered by sub-prime mortgage crisis in the US ... ... economies including Germany, the UK and Japan. Post-Lehman collapse, many markets became dysfunctional and several big banks on both sides of the Atl... ... of current crisis in terms of declines in output, trade volumes and stock markets has been much severe than that of the Great Depression. What Caused... ...t of big investment banks in facilitating the collapse of housing mortgage markets which triggered the global financial crisis. Undoubtedly, there are... ...etary Fund, World Economic Outlook Update, January 26, 2010, p. 2. 2. Mark Weisbrot, Rebecca Ray, Jake Johnston, Jose Antonio Cordero and Juan Antonio...

...n financial systems was followed by a significant reduction in real economic activity throughout the world. The crisis has highlighted that financial markets are inherently unstable and market failures have huge economic and social costs. The crisis has renewed debate on the role of global finance and how it should be regulated. The aim of this book is to encourage and...