Essay: Impacts of Financial Deregulation and Capital Control

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Essay: Impacts of Financial Deregulation and Capital Control

Financial deregulation created global capital flow where international financial institutions operate. These institutions allowed increased international trade and capital flow through systems like foreign and stocks exchanges by individuals, borrowers and lenders[1]. The flow of capital has created a boost in the economic and financial power of many nations especially the developing markets. However, recent activities in the financial market have been hampered by the global recession, which originated in the west and quickly spread across the world through international market systems.

As the United Nations (2009) reported, the recession disrupted the growth of economic and financial markets and has set back millennium development plans for many nations[2]. The recession has affected capital and credit flow among financial institutions both nationally and internationally as unemployment rates have increased at double digit. In addition, the globe is experiencing a drop of 3.7% per capita income as from 2009.

[1] Kierkegaard, J.F., and Carmen, M.R., The Return of Financial Repression in the Aftermath of the Great Recession,” forthcoming Peterson Institute Working Paper (Washington: Peterson Institute for International Economics, 2011): 2.

[2] United Nations, Conference on the World Financial and Economic Crisis and Its Impact on Development (United Nations secretary General Report, 2009): 1.

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