Financial Sector Regulation for Growth, Equity and Stability (Full Publication)

152 Pages Posted: 14 Feb 2012 Last revised: 4 Oct 2013

Date Written: January 1, 2012


The financial crisis has demonstrated the need to better understand the complex interactions between the financial system and the real economy. While stability has become the main focus of the regulatory changes, the implications for growth and equity are also important. To think through these issues and provide an emerging market perspective, CAFRAL, in collaboration with the Bank for International Settlements, organized an international conference of central banks and regulators on Financial regulation and its implications for growth equity and stability in the post crisis world in Mumbai on 15th and 16th November 2011.

Several international experts and 26 representatives from 21 central banks/regulators joined Reserve Bank of India's Governor Duvvuri Subbarao and BIS General Manager Jaime Caruana at this conference. This volume is a collection of the speeches, papers and summaries of discussions in the conference.

While the full publication can be downloaded using the above link, individual sessions are available separately:

Session 1: Financial Sector Regulation for Growth, Equity and Stability in the Post Crisis World

Financial regulation for growth, equity and stability in the post-crisis world, by Duvvuri Subbarao • Financial and real sector interactions: enter the sovereign ex machina, by Jaime Caruana • Overview, by Usha Thorat

Session 2: Special address: Financial sector regulation and macroeconomic policy

Financial sector regulation and macroeconomic policy, by YV Reddy

Session 3: Financial Sector Regulation for Growth

Opening remarks, by Andrew Sheng • Financial Sector Regulation and Implications for Growth, by Anand Sinha

Session 4: Financial Sector Regulation for Equity

Session II: Chair's initial remarks, by Stephany Griffith-Jones • Too big to fail versus too small to be counted, by M S Sriram and Vaibhav Chaturvedi

Session 5: Financial Sector Regulation for Stability

Session III: Introductory remarks, by John Lipsky • Macroprudential policies in EMEs: theory and practice, by Philip Turner

Suggested Citation

Settlements, Bank for International, Financial Sector Regulation for Growth, Equity and Stability (Full Publication) (January 1, 2012). BIS Paper No. 62, Available at SSRN:

Bank for International Settlements (Contact Author)

Bank for International Settlements (BIS) ( email )

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