For this keynote address, I will not focus on these challenges; rather, I will highlight three elements which I believe are essential in overcoming challenges and in achieving a quantum leap in financial inclusion. First is research and measurement; second is purposeful action and innovation informed by research; and third is convergence of objectives and actions across domestic, regional and international arenas.
BIS Review 87/2009  7  •  A sequence of asset price bubbles, in the United States and globally (Figure 10). The dot.com equity bubble of the late 1990s was essentially driven by overoptimistic expectations, but it was also accommodated by monetary policy.