,362. Despite some economic indicators in the pre-financialcrisis periods, there were no early signs of the crisis hitting South Korea in 1997. As a result, when the Korean government formally announced the crisis and requested an emergency standby loan from
The turbulence in global financial markets presents a serious challenge to the stability of the monetary policy trilemma configuration. The trilemma states that a country may simultaneously choose only two of the following three policy goals: monetary policy independence, exchange rate stability, and financial integration. In order to analyse if the financial crisis brought changes in Romania’s monetary policy preference, we have constructed indexes that measure the trilemma policy goals individually in the period between 2005 and 2012. Using these indices, we have shown that there are significant differences between the means of monetary independence and exchange rate stability indices in the pre- and post-crisis periods.
International Conference of Agricultural Economists (IAAE) , 16–22 August 2009, Beijing, China.
Huang, J. — Rozelle, S. — Zhi, H. — Huang, Z. (2009): Impact of FinancialCrisis on Rural Labor Employment and Income in China. Paper at
Hedge funds are a controversial element of the global financial system, as their activities can affect countries’ economies to a great degree. Therefore, it is important to gain insight into their operation. The aim of the article is to give an overview of some legal aspects of hedge funds and starts with a definition of hedge funds, whilst also giving a historical overview of their genesis. The following parts outline the legal framework for hedge funds in the USA and the European Union. The conclusion is that regulation for hedge funds are flexible in spite of the reforms in the legal framework after the events of the financial crisis, which still makes them an attractive proposition for the ‘high society’ of investors.