Which one is not the reason for evolution of International Financial management ?
1 point
a) Emergence of GATT
b) Liberalisation of financial markets
c) Advancement of technology
d) Licensing
Answers
Answer:
The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. Since emerging in the late 19th century during the first modern wave of economic globalization, its evolution is marked by the establishment of central banks, multilateral treaties, and intergovernmental organizations aimed at improving the transparency, regulation, and effectiveness of international markets.[1][2]:74[3]:1 In the late 1800s, world migration and communication technology facilitated unprecedented growth in international trade and investment
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Answer:
a)ans: The General Agreement on Tariffs and Trade (GATT) was signed by 23 countries in October 1947, after World War II, and became law on Jan. 1, 1948. ... In 1995, the General Agreement on Tariffs and Trade (GATT) was absorbed into the World Trade Organization (WTO), which extended it.
b)ans: Financial liberalization is defined as the removal of government intervention from financial markets. ... Liberalization can lead to faster economic growth. But it can also increase the financial vulnerability of a country, even leading to a financial crisis.
c)ans: Technology is evolving rapidly. Artificial intelligence, geotargeting, automation, and other advancements in information technology specifically set the stage for more technological evolution. Robotics are becoming smarter, and even our thermostats and refrigerators can be connected to the internet.
d)ans: A license or licence is an official permission or permit to do, use, or own something. A license is granted by a party to another party as an element of an agreement between those parties. In the case of a license issued by a government, the license is obtained by applying for it.