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Bullion

Keywords

Internationalisation, Globalisation. Financial sector stability.

Abstract

Internationalisation or Globalisation refers to the increasing integration of "economics around the world, particularly through trade and financial flows. lt is the actual movement, the capacity to move and the potential movement across nations of trade, , investment, technology, finance and labour. lt's also involves the effects of these I forces and the consequent liberalization I of the market. This paper focuses on internationalisation as it relates to the financial sector in Nigeria and its most common manifestation, which is liberalization. It aims to identify ways in which we can benefit from this process while remaining realistic about its potential and risks. Finally, it must be noted that in the process of internationalisation fatal gaps could be created by, liberalizing the market interest rates, credit controls and capital flows without adequate institutional capacity building. The structures required are effective regulation and supervision, transparent accounting standards, good corporate governance and a sound legal system to enforce breaches.

Author Bio

The author is a staff of the Standard Chartered Bank.

Publication Title

CBN Bullion

Issue

1

Volume

28

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