Promotion of Globalization Linkage in Practice: A Step-by-Step Approach ACG 16 th Cross-Training Seminar, Tehran, May 2014 Farhad Morsali CEO Consultant

Globalization Definition A Plenitude of Definitions ­ Political ideology ­ Geographic location ­ Social status ­ Cultural background ­ Ethnic and religious affiliation

Political Political Economic Economic Socio-cultural Socio-cultural It is to: It is to: Enhance Global Economic Growth Enhance Global Economic Growth Increase Efficiency Increase Efficiency Ultimately Reduce Poverty Ultimately Reduce Poverty Maintain Stability and Sustainability Maintain Stability and Sustainability Globalization Aspects& Functions

Globalization Definition UNESCO UNESCO: A set of economic, social, technological, political and cultural structures and processes arising from the changing character of the production, consumption and trade of goods and assets that comprise the base of the international political economy. OECD: OECD: The term ‘globalization’ has been widely used to describe the increasing internationalization of financial markets and of markets for goods and services. Globalization refers above all to a dynamic and multidimensional process of economic integration whereby national resources become more and more internationally mobile while national economies become increasingly interdependent

CSD Iran Interpretation of Globalization Seeking Mutual Growth Potential Anywhere

Globalization Hierarchical Needs Domestic economic/statutory ground Global Standardization Globally recognized potential Robust financial markets FMIs Link Political ties ground To authorize trade To foster trade For common understanding To compete To attract investors To put into operation

FMI Linkage

Globalization Needs Satisfaction Top-down Approach FMI Links IT Infrastructures Reliance Satisfactory Advances in this Field in Nations Importance of IT Networks Cyber Risks

Robust Financial Markets Plausible Markets Volatility Markets Integration Support Plan If the Whole Market Is Not Robust, Special Purpose Financial Instruments Special Types of Investors Allowed to Participate Gradual Restrictions Deletion Globalization Needs Satisfaction Top-down Approach

Globally Recognized Potential Globalised Markets Impose Competition Look for Domestic Competitive Advantages Foster (Innovation) and Offer Them to the Market Securitization Importace Globalization Needs Satisfactory Top-down Approach

Global Standardization and Perception Different People, Economies, Perspectives, Languages Thank Standardization Efforts, Standards e.g. ISO15022 Use of MoUs and Globally-Accepted Dictionaries Less Human Resource Turnover Staff Exchange Globalization Needs Satisfactory Top-down Approach

Domestic Economic/Statutory Ground General Economic Structure Level of Regulation Level of Government Involvement Domestic Law Scrutinized for Mutual Cooperation International Law in Focus Globalization Needs Satisfactory Top-down Approach

Political Commonalities Brother Nations Connection Mutual Dependency Another Connecting Factor Mutual Growth as the Most Matured Form Starting from a Mutual Need with a Brother Nation for Mutual Growth Then Results Generalization for Other Experiences Globalization Needs Satisfactory Top-down Approach

Role of Governments Efforts in Political Level General Policies and Law for Economic Ground Deregulation Anywhere Possible Less Interference in Executive economy Empowerment of Private Sector Support Plans for Shock Absorption and Contagion Prevention.

Role of International Bodies (ACG) Making Global Cooperation and Governance via: Exchange of Ideas Convergence of Ideas. Unity of Regulations Unity of Regulators Adhering to Global Community

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