HOW WAS THE TRIPARTITE FINANCIAL SYSTEM CREATED IN THE UNITED KINGDOM Essay

HOW WAS THE TRIPARTITE FINANCIAL SYSTEM CREATED IN THE UNITED KINGDOM AND IT'S ROLE IF ANY IN THE CREDIT CRUNCH (BUSINESS AND LAW SUBJECTS) - Essay Example In fact it is found that the credit crisis is actually the result of poor regulatory process of these countries’ financial systems. This research is all about the Tripartite Financial System which was developed in UK in 1997. Prior to the period of recent financial crisis, it was apparently seemed that the system is quite effective in maintaining the stability in the UK financial system. However once the credit crisis started the actual effectiveness of the tripartite system came out. This research is started with a proper plan. A specific research statement is developed. Aims and objectives of the research are then properly identified. Precise research strategy and philosophy have been followed throughout the research. Data are collected in the pre-defined ways. A well structured literature review includes the detailed description of the topic. Finally the research ends with a proper conclusion. This research mainly focuses on the Tripartite Financial System and its role in the recent credit crunch in UK. The specific research statement is â€Å"how tripartite financial system was created in UK and its part in credit crunch†. The major aim and objective of this research is to identify all those processes and incidents that led to the formation of tripartite financial system. Furthermore the research also aims to find out the significance of this system in the recent credit crisis situation in United Kingdom. Each and every research is based on certain philosophy. In fact researches can be categorized into different types according to their philosophy. There are mainly two philosophical paradigm – phenomenological and positivist. In the first type of research, world is considered as an external object. Furthermore he/she should be independent. Most importantly in this type of research focus should be on facts. Furthermore the researcher should also focus on