Globalization is the
process in which people, ideas and goods spread throughout the world, with more
interaction and integration between the world's cultures, governments and
economies. Nowadays, in the
context of globalization, the world economy recorded significant changes in the
structure and function of its main subsystems, especially in the financial
subsystem.
According to the The
banking area, a part of the financial and economic system is under the
influence of changes caused by the current economic situation in which it is
evolving- the instability of interest rates, the increase of the competition,
the concentration of the capital, etc. (Bucur, 2017)
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