Confidence in conventional financial stability regimes was shattered by the scale of the financial crisis. This book chapter explores the need for coordination between monetary policies and macro prudential regulation. It also points out challenges faced by emerging economies as they cope with this coordination in the current global economic climate.
Chapter 4, Monetary Policy and Macro Prudential Regulation: Whither Emerging Markets, in: Otaviano Canuto and Swati Ghosh (eds.), Dealing with the challenges of macro financial linkages in emerging markets,W ashington, D.C.: World Bank, 2013.