The global financial crisis has led to a sweeping reevaluation of financial market regulation and macroeconomic policies. Emerging markets need to balance the goals of financial development and broader financial inclusion with the imperative of strengthening macroeconomic and financial stability. This volume develops new analytical frameworks and provides policy prescriptions to do just that.
New Paradigms for Financial Regulationpresents medium- and long-term strategies for strengthening the regulatory frameworks that facilitate and broaden financial development while also helping to manage and mitigate the risks involved. It provides prescriptions for how the policy frameworks should be adapted to a world of more free (and more volatile) capital.
Specific topics covered by the volume include
• Implications of global regulatory changes for emerging markets, with particular emphasis on Asian emerging markets
• Effective design of regulatory and policy frameworks to promote financial system development and stability
• Monetary policy frameworks to enhance financial stability and international policy coordination
• Principles for a sound global regulatory architecture