Macroprudential Regulation and Developing Countries: Liliana Rojas-Suarez
3/7/11
Regulators at the Bank for International Settlements in Basel, Switzerland, are hard at work designing regulatory standards to avoid future financial meltdowns like the global financial crisis of 2008. Joining them for two months is Liliana Rojas Suarez, a CGD senior fellow and the founding chair of the Latin American Shadow Financial Regulatory Committee.
I spoke with Liliana just before she left for Basel about macroprudential regulation—an approach that focuses on the systemic risks arising from the interaction among banks and other financial institutions. (Liliana had spoken about this at a recent CGD Research in Progress staff meeting; her slides are a useful adjunct to our Wonkcast discussion.)
Leaders of the world’s largest and richest countries met over the weekend in Ontario, Canada. What did they accomplish? This week on the Wonkcast, I’m joined by two guests: CGD Senior Fellow Liliana Rojas-Suarez and Director of Policy Outreach Sarah Jane Staats. We examine the statements released by the two groups—looking specifically at what they have to say about several key policy areas for global development.