摘要：Purpose of this study is to highlight the systemic importance of non-banking financial institutions. In this study, globally accepted BCBS methodology has been used to identify systemically important banking and non-banking financial institutions of Pakistan, China, Japan and India. Results show that in countries like China and Japan where banks are huge, insurance sector (proxy of NBFls) is growing and has systemic importance at domestic level but in countries like Pakistan and India, insurance companies have not grown enough to become systemically important at domestic level. The topic of this paper is of considerable interest to both economists and regulators.
关键词：Domestic systemic important financial institution; Global systemic important financial institution; Global financial crisis
