Financial Crisis: What went wrong?

Introduction
Over the years the role of the financial and economic sector has become a major research issue. The sector has been considered a very important aspect for the growth and development of a country. Countries which have developed financial systems such as the developed countries have in most cases shown steady economic growth and development. Developed countries are likely to experience high economic growth due to the fact that they strong institutions and good firm level governance that instills investor confidence in the financial systems. This increases investment and output in the economy. On the other hand, developing countries are characterized by weak institutions and poor firm level governance which make the investors lose confidence in…..

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