Rules alone will not stop crises: Rajan, White

Raghuram Rajan and William White, two highly-regarded economists, have said that regulation - whether it was tighter, less pro-cyclical or more systemic - would not prevent future crises unless fundamental structural and behavioural changes were made to the operation of the global economy.

Opening a conference hosted by the London School of Economics and Deutsche Bank in London on Thursday, Rajan, a professor at the University of Chicago and a former chief economist of the International Monetary

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