15 Yrs Of The Global Financial Crisis & 10 Yrs Of The Taper Tantrum : Lessons For India & The World

CNBC-TV18

As we reflect on the 15 years since the global financial crisis and the 10 years since the taper tantrum, it is important to draw lessons for India and the world. These events have had a significant impact on the global economy and continue to shape financial policies and regulations.

Lessons from the Global Financial Crisis

• The global financial crisis, which began in 2008, was triggered by the collapse of Lehman Brothers, a major investment bank.
• It exposed the vulnerabilities and risks in the global financial system.
• Lessons learned from this crisis include the need for stronger financial regulations, improved risk management practices, and enhanced transparency in the banking sector.
• Governments and central banks around the world took measures to stabilize the financial system and prevent a complete collapse.

The Taper Tantrum and its Impact

• The taper tantrum refers to the market volatility and panic that occurred in 2013 when the US Federal Reserve announced its intention to reduce its bond-buying program.
• This announcement led to a surge in interest rates and capital outflows from emerging markets.
• Lessons from the taper tantrum include the importance of communication and coordination among central banks, the need for robust monetary policies, and the vulnerability of emerging economies to external shocks.

Implications for India and the World

India, like many other countries, experienced the impact of the global financial crisis and the taper tantrum. These events highlighted the need for reforms and policy changes to strengthen the economy and mitigate future risks.

• India implemented various measures to improve financial stability, including the introduction of the Insolvency and Bankruptcy Code and the recapitalization of banks.
• The country also focused on promoting inclusive growth and financial inclusion to reduce vulnerabilities and enhance resilience.
• Lessons from these crises have influenced India’s approach to financial regulation and risk management.

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View Full Coverage on Google News

For more in-depth coverage of the global financial crisis and its aftermath, you can visit Google News.