PROPASAL

Global Banking System

Table of Contents

INTRODUCTION3

Background3

Aims/Objectives of the study5

Proposal Structure5

RESEARCH METHODOLOGY & RESEARCH QUESTIONS7

Procedure8

Reliability9

Validity10

CONCEPTUAL DEVELOPMENT/LITERATURE REVIEW12

RESEARCH METHODS, TECHNIQUES & ETHICAL ISSUES16

Ethical Issues16

Research design17

RESEARCH PLAN21

CONCLUSIONS22

BIBLIOGRAPHY24

Global Banking System

Introduction

Background

This quotation was that of a solid and reliable historian in the 1960s whose work of XX century history up to the 1950s were a tour de force in terms of interpreting the cataclysmic events of the XX century and making the events both intelligible and simplified and understandable.

Despite the complaint often voiced by globalisation critics that multi-national corporations strive to turn the world into “an impersonal consumerist cornucopia of designer labels”, writers on political economy share a widespread consensus that globalisation cannot be seen simplistically as a drive towards greater homogenisation of the world according to some western market ideal. Rather, the global and the local are seen as reinforcing and shaping each other as the global will always be interpreted and integrated locally, and vice versa. A centripetal force seeking to make the world more homogeneous, and a centrifugal force working towards greater heterogeneity. Both forces are theorised as being implied in each other, giving rise to an understanding of “the interaction between the global and national realms” as “glocal”.

While marketing, and in particular branding, is by no means the only area in which management studies discuss glocalisation, it is nevertheless a key area and the one on which this study focuses.1 From the marketing angle of glocalisation, global brands often achieve iconic status by being recontextualised, and are subsequently consumed, particularly in emerging markets, to grant membership in a “western” community endowed with social prestige. To some extent, conspicuous consumption can also be witnessed in relation to glocal brands combining local and global aspects, albeit in developed rather than emerging markets. The reasons seem to be similar, being first and foremost the desire to gain membership in an imagined community that is characterised by cosmopolitan sophistication without abandoning sensitivity to perceived local tradition.

Rather than establishing its own branches abroad, its strategy in entering foreign markets involves acquiring existing branch networks and gradually rebranding them, a practice that can also be observed with other financial service providers.

The general absence of a strong central bank in the pre 1989 era within Central and Eastern European countries was itself partially due, paradoxically, to a modernistic trend. Within these countries the central planners were no strangers to global capital markets, and were by no means ideologically constrained to engaging in global capitalism. The USSR, Poland, Hungary, the federal government of Yugoslavia, and in the late-1980s Bulgaria, - all participated in the syndicated loan market, consisting of combined global borrowing of fixed term loans from western capitalist regimes. (The German Democratic Republic or East Germany, was the exception; it preferred to obtain bi-lateral credits from the German Federal Republic.) This policy was necessary in as an attempt to sustain domestic levels of consumption, in the face of ever increasing investment markets having to be fuelled by simultaneously and steadily decreasing productivity of gross domestic capital available ...