Comment
Author: Mr. Omotunde E. G. Johnson
Language:
English
Keywords:
SEM; market; bank; rating; market participant; market discipline; IMF surveillance; risk profile; government regulator; Financial sector stability; Credit; Credit risk; Financial Sector Assessment Program; Global; Europe; Southeast Asia; East Asia; Asia and Pacific; welfare cost; liquidity shock; liquidity support; price fluctuation; public policy; Systemic risk; Payment systems

Abstract

Professor Hamada has written a paper in which he has tried to cover a varied set of issues of great importance when discussing the welfare cost of systemic risk, financial instability, and financial crises in general. In the process, he demonstrates the immense difficulties in trying to be concrete and precise and the dilemma faced by public policy. I shall comment directly on his paper but focus more on the principles that have been guiding the public policy response in this area.

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Cover Financial Risks, Stability, and Globalization
Financial Risks, Stability, and Globalization
Author: Mr. Omotunde E. G. Johnson
ISBN:
9781589060128
Publication Date:
29 Apr 2002
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589060128.072
Pages:
570