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Financial Globalization & Economic Policies Study

   

Added on  2021-02-20

22 Pages6293 Words85 Views
UNIT 11 – RESEARCHPROJECT(ACCOUNTING &FINANCE PATHWAY)

Table of ContentsTITLE..............................................................................................................................................1CHAPTER 1: INTRODUCTION....................................................................................................11.1 Overview of Research............................................................................................................11.2 Background of Research........................................................................................................21.3 Research Rationale.................................................................................................................21.4 Research Aim.........................................................................................................................31.5 Research Objective................................................................................................................31.6 Research Question.................................................................................................................4CHAPTER 2: LITERATURE REVIEW.........................................................................................4To gain a concept understanding of financial Globalization ..........................................................4To analysis this risk and benefits of financial Globalization ......................................................5To determine the important of financial globalization on economical policies ..........................6CHAPTER 3: RESEARCH METHODOLOGY.............................................................................83.1 Type of Investigation.............................................................................................................83.2 Research Philosophy..............................................................................................................93.3 Data Collection: ..................................................................................................................103.4 Research Strategy.................................................................................................................103.5 Ethical Consideration ..........................................................................................................103.6 Research Limitation.............................................................................................................11APPENDICES...............................................................................................................................12Research Proposal Form................................................................................................................12Research Ethics Approval Form....................................................................................................15

TITLE“To examine and determine the impact of Financial Globalization on the EconomicPolicies- A Study on Bank Of England”CHAPTER 1: INTRODUCTION1.1 Overview of ResearchWith the rapid advent in the field of technology, there has been an introduction ofcomplex processes as well as transactions. One such introduction in the mid-1980s related tothe event of Globalisation. Since then, there has been a surge in capital flows among industrialeconomies. Thus, increasing cross-border relations among industrial and developing countries.Despite the downsizing of global banking due to the occurrence of Global Financial Crisis in2007, financial globalisation has been on the rise in the recent years. The concept of FinancialGlobalization can be understood as the integration of a country's local financial system with theglobal institutions as well as financial markets. Thus, encouraging liberalisation of domesticfinancial sector and capital account on governments' part which ultimately enable cross-capitalmovement between local borrowers/lenders in internation markets along with high utilizationof international financial intermediaries. Financial Globalisation is far from being matured, it isstill a new concept and has only achieved stabilization, resilience and smart transfer systems ofcapital flows post-Global Financial Crisis. Hence, it can be viewed as a tool that can help in theintegration of financial systems in emerging as well as developed market economies with theother parts of the world. In order to successfully complete this project, Bank of England has been chosen as oneof the key organizations for the relevant study. The bank has been a part of the history ofFinancial Globalisation for centuries and thus, can help in understanding the impact of thisrevolution in a much more effective manner. The main motive of Bank Of England is to ensurefinancial stability within a domestic as well as international context. In addition to this, thebank also regulates the flow of capital movements on a cross-border level so as to engage inhighly protected transmissions within the global financial markets. The complete researchcontains a detail study of globalisation impact on financial services that help to globalisebusiness in better manner. 1

1.2 Background of ResearchIn business, the term globalisation relates to that process which enables interaction andintegration among a group of people, governments and companies on a worldwide scale. In thiscontext, the financial globalisation concept is more concerned with the integration of the capitalflow transmission occurring between economies' financial markets and institutions on aninternational basis. With an increase in the level of complexity among business, no single entitycan rely completely on the local financial system in which it operates. Thus, it becomes ofparamount importance to understand the nuances of Financial Globalisation along with itsimpact on the Economic Policies of such organisations. International Financial market areincreasing at fast pace at global level resulting in economic volatility, growth, imbalances andgrater depended on market fluctuations. An Economic Policy can be stated as a course of actionthat is intended to act as a determining factor in how the economy behaves towards its internalas well as external environment. These policies are, thus, crucial in promoting financial sectordevelopment, institutional quality and trade openness which are ultimately the key drivers offinancial globalisation.Being one of the biggest and oldest institutions of UK, the Bank of England isresponsible for taking important decisions that are central to the economy of UK. One of themincludes the formulation of various policies which ensure that any shock waves arising in theglobal financial system does not impact the internal financial systems of UK in a grave manner.The Bank is headquartered in London, it has been a model for most of the modern centralbanks in the present day scenario. The two main functions carried out by this bankingorganisation include ensuring monetary stability and providing asset purchase facilities.Therefore, it is the utmost priority of Bank of England to make sure that a financial frameworkis developed which not only promotes trade openness but enables the sustenance of monetaryand financial stability in the country.1.3 Research RationaleThe relevant research is based with a rationale to measure the level of financialintegration of the financial market of UK with its global environment. This has been done bykeeping in mind the impact financial globalisation has on the economic policies. It is importantto note that after the occurrence of Global Financial Crisis in 2007, there were many loopholesthat were discovered in the systems implemented globally as well as domestically among2

various economies. Therefore, bringing the concept of Financial Globalisation to the limelightamong economists and governments all around the world. Essentially the process of Financialglobalisation enforces integration of local financial systems with international financial marketsand other institutions. Thus, it becomes critical to analyse the benefits and risks attached to itfrom an organizational perspective in the light of prevalent economic policies. For this purpose,evaluation of economic policies is critical as they are the ones which rule the behaviour of acertain entity in response to a given environment within and outside the country. Also, Bank ofEngland is the first choice here as it is one of main regulatory bodies that are responsible formaintaining financial stabilization within the country. Thus, any economic policy prevalent inthe economy of UK can be directly linked to the decisions of Bank of England's managementas a response to their current as well as future environment.1.4 Research AimThe main part of any research is defining the aim in a clear and concise manner. Theparticular aim of the relevant research project is “To examine and determine the impact ofFinancial Globalization on the Economic Policies- A Study on Bank Of England”.1.5 Research ObjectiveA research objective is one which summarizes what all goals or accomplishments aresearcher hopes to achieve through conduction of the relevant study. A clearly defined set ofresearch objectives would enable a researcher to focus on the undertaken on their part. It isimportant to closely link the aim with the research objectives so as to effectively and efficientlyachieve the variables that are critical to a given research project. In the context of this researchproject, some of the essential research objectives are enumerated as under:To gain a conceptual understanding of Financial Globalisation.To ascertain the relationship between Financial Globalisation and Economic Policies .To determine the impact of Financial Globalisation on the Economic Policies.To analyse the risk and benefits of Financial Globalisation.To evaluate the impact of Financial Globalisation on Economic Policies in the contextof Bank of England.3

1.6 Research QuestionThe Research Question or the Thesis Statement helps in proper addressing of a givenresearch problem that is critical to a given research project. A research question must bedistinct, centred, brief, analysable and arguable which help to avert the “all-about” paperapproach on the part of the researcher and must work for the benefit of relevant thesis. Theresearch questions critical to the relevant research project are defined as under: What is Financial Globalisation?What is the relationship between Financial Globalisation and Economic Policies?How to determine the impact of Financial Globalisation on the Economic Policies?What are the the risk and benefits of Financial Globalisation?What is the impact of Financial Globalisation on Economic Policies in the context ofBank of England?CHAPTER 2: LITERATURE REVIEWTo gain a concept understanding of financial Globalization As per the view point of ........................ , financial globalization refers to a mergerof domestic financial method of a specific country along with an international company andmarkets of financial. Through this huge growth of economy has been seems at global level inpast few years as well as at a technological field. It is more specific in transport as well ascommunications in respect of this there are a silent revolution that develop financeglobalization a clear choice or prospective. There are major two international institutions thatdevelop to support world trade in order to remain or maintain growth of FinancialGlobalization that are International Monetary Fund (IMF) as well as World Bank. Along withthis, it is also functions and operations which lead to cross border finance. Through this anorganization able to conduct its business operations as well as function in effective andappropriate manner. In respect of History of financial globalization it is enhanced during theyear 1980 as well as 1990 along with this year 1997 will is consider as best research. Alongwith this, it conduct or develop out risk in appropriate way that will help an organization increating a peoples in appropriate as well as opposite manner. It is essential because by throughit en organization able to conduct their work in effective as well as appropriate manner.Financial globalization helps a company in various ways such as by it thy not able to conduct4

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