Comment

Article Abstract:

Stanley Fischer's and Carl-Johan Lindgren's paper on the role of the International Monetary Fund highlights the legitimate role of the fund as an overseer of sound economic activities. The fund's activities should be to explain how to set up institutions and advise authorities on best practices to prevent lax management of financial institutions, correct weakness of legal frameworks, prevent regulatory failure or regulatory capture and promote market liquidity.

Administration of General Economic Programs, Intnl Economic Policy, International Monetary Fund, International economic relations, Powers and duties, International finance

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Comment

Article Abstract:

John G. Heimann's article on removal of systemic risk highlights the need for 'industry-led' initiatives but involved parties should rake care in its implementation to prevent being overly optimistic and narrow. People involved in planning and implementation should realize that monitoring and reviewing financial systems must continue in the evolution of supervisory systems as there are no shortcuts to achieving effective risk management initiatives.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Financial Regulation & Reporting, Management science, Risk management, Financial disclosure

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• Abstracts: Comment. part 5

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