Maintaining Financial Stability in a Global Economy: A Summary of the Bank’s 1997 Symposium
نویسنده
چکیده
World financial markets have experienced tremendous growth in recent years. New financial instruments have been developed, the volume of transactions within individual markets has skyrocketed, and capital flows across countries have risen dramatically. While these developments have made financial markets more efficient, they have also increased the risk that events at one institution or in one market will have immediate and wideranging effects on the entire global financial system. In developing policies to respond to these changes, policymakers must balance the need for financial stability with the desire for an innovative and efficient financial system.
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