Given the higher incomes in the oil and gas sub-sector of the extractive industry, attention is concentrated there to the almost total neglect of the mainstream economy. Consequently, the economy is broken into the very rich (relying on the oil and gas industry) and the very poor (relying on the mainstream economy) with almost a complete vacuum in-between these two.
Thus, effective resolution regimes for Global Systemically Important Insurance corporations need to be developed and implemented. The overall effects of the so-called shadow banking system and its activities on financial stability are ambiguous. Theoretically, non-banking financial institutions that perform banklike activities are associated with diversification and specialization benefits. Therefore, it could be assumed that they contribute to efficiency gains and greater financial system resilience.