Initial Lessons of the Crisis

Date: February 6, 2009
Electronic Access: Full Text

Summary:This paper summarizes the initial lessons of the financial crisis along three dimensions—regulation, macroeconomic policy, and the global architecture for stability. The focus here is not on the near-term resolution of the crisis or the long-term consequences (which must be left to other papers), but rather on prevention, bearing in mind that crises will inevitably recur. The underlying analysis is elaborated in three related staff papers to be issued separately.

Series : Policy Paper
Subject(s): Financial crisis | Crisis prevention | Economic policy | Monetary policy | Capital markets | Bank supervision | Financial systems | Liquidity management
Notes: Companion Papers:

Initial Lessons of the Crisis for the Global Architecture and the IMF

Lessons of the Global Crisis for Macroeconomic Policy

Lessons of the Financial Crisis for Future Regulation of Financial Institutions and Markets and for Liquidity Management