The training course strives to promote knowledge and understanding of Financial Globalization which is understood as the integration of a country’s financial system with international financial markets and institutions. This integration takes place when the local financial sector and the capital account are liberalized and the local borrowers and lenders are active participants in the international financial markets and users of international financial intermediaries. Due to the depth and the increasing role of Financial Globalization, it is of great importance to examine its process and impact, including the potential benefits and disadvantages. This task appears to be particularly topical in light of the current global crisis.
At the end of the course, the participant should be able to:
- Differentiate between “development finance” and “diversification finance” in Financial Globalization;
- Identify the driving forces of, and the role of governments, borrowers, investors, and financial institutions in Financial Globalization;
- Identify potential benefits or risks of Financial Globalization both in developed and developing countries; and
- Determine financial crises affecting financial globalization and propose measures to prevent such problems.
Content And Structure
The course consists of the following modules:
- Module 1: Concepts and History of Financial Globalization
- Module 2: Financial Openness and Patterns of Financial Globalization
- Module 3: Impact of Financial Globalization
- Module 4: Causes of the Financial Crisis and Policy Options
In order to ensure the best possible outreach, the course will be delivered through e-learning. Through a multiple-instructional setting, the goal is to achieve the learning objectives by means of learning technologies that match personal learning styles and by the inclusion of non-linear learning that aims at the development of just-in-time skills of adult learners. At the same time, in order to allow participants maximum flexibility of scheduling , the learning will be conducted in an asynchronous manner. Using a state-of-the-art training architecture, UNITAR will combine self-learning with assessments and online discussions. The pedagogy - adapted specifically to professionals in full-time work - will help train participants through various experiences: absorb (read); do (activity); interact (socialize); reflect (relate to one’s own reality).
The intended audience includes Government officials, auditors of SAIs, financial experts, academics, and university/college students.