Abstract
The banking industry has gone through turbulent times in the last 30 years. From the Asian crisis of the 90s, through the inception of sophisticated financial instruments such as derivatives, the genesis of shadow banking, and culminating with the subprime disaster, market players and authorities have scrambled to understand and react to these dramatic changes. On this paper the variables involved in these changes are discussed, and a recommendation to the structure of the financial industry provided, to maintain market stability and competitiveness in this important segment of the economy.
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