Financial Services Industry Study Paper Seminar 16
Abstract
The National Security Strategy of the United States cites sustained economic growth and prosperity as a vital national objective. Key to economic growth and prosperity is a healthy financial services sector. History shows that a weak financial sector can exacerbate economic downturns. Weaknesses in the US banking system greatly aggravated the United States' difficulties during the Great Depression. Other historical examples include Mexico, Russia, Argentina, and Japan; in all cases, weak financial systems have contributed significantly to economic problems and overall loss of influence on the world stage. Therefore, assessing the health of the financial services industry is an important step in assuring continued U.S. national power, prosperity, influence, and security. The research supporting this paper included individual examination of key issues facing the industry by the 16 seminar members as well as field research in Washington, D.C., New York, Chicago, Hong Kong, and Tokyo. The seminar visited financial institutions that make up the industry, governmental, quasi-governmental, other regulatory agencies, and financial industry associations in order to get a complete picture of the complicated, highly interconnected structure of the industry. The paper begins by describing the basic components and health of the financial services industry. It continues with a discussion of the major challenges facing the industry, what role the government plays in the industry, and the outlook for the future. Short essays addressing the most pressing issues facing the industry, both domestically and internationally, precede an overall conclusion.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jan 01, 2002
- Accession Number
- ADA425299
Entities
People
- David Blair
- Tom Watson
Organizations
- Dwight D. Eisenhower School for National Security and Resource Strategy