The Darwinian Shakeout in Financial Services

摘要

Until the summer of 1998 financial services seemed to be leading the stampede towards globalisation, but now the thundering herd has stopped at the cliff. National governments and major financial institutions are counting the costs as we see the collapse of prices and currencies in one emerging market after another. This article traces the reasons for the crisis and asks what are the prospects for the future and what lessons can managers in financial services and other companies in fast- moving international markets learn from the experience of the past 5 years.