Prepare to fail

Developing countries should learn from the failures of developed countries

Macroprudential supervision and financial stability are the new buzz concepts after the financial crisis. There is a belief that the financial crisis partly came about because supervisors focused on individual institutions and did not add the picture together of all the individual observations. The vision is that by adding the picture together, the likelihood of a rerun of the financial crisis will be significantly reduced. Therefore central banks across the developing world are copying

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