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IMPACT OF INFORMATION TECHNOLOGY ON FINACIAL GLOBALISATION INTRODUCTION Marshall McLuhan rightly pointed out in 1968 that world is progressively en route towards 'global village'.(). We are gradually moving away from a world in which nationalized economies were relatively isolated from each other by barriers to cross boarder trade and investment- by distance, time zones, language, national differences in government regulations, culture and business systems.1 Over the past few decades, the world has been experiencing a phenomenon, which has seen the proliferation of technology at exponential rate (Cairncross, 2001). It has shrunk the world and reduced the importance of geographical location of market. The domestic barriers no longer restrict travel and communication, finance and trade; rather they operate on a multinational or transnational scale (Stephens, 1999). An unending series of technical advances has transformed the way we work, communicate and view the world. Information technology (IT), which includes computer and telecommunication technology, has...

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