How can public policy best help smallholder farmers to begin the journey to agricultural modernisation? Government must provide several sets of essential public goods – these are goods which cannot be provided optimally by the market – if agricultural modernisation is to be feasible.
I'm glad to note that the Basel Committee on Banking Supervision is working on ways to address this issue. Other perspectives on improving financial system resilience I have briefly discussed some of the problems in risk management exposed by the current crisis, as well as the negative implications for financial stability.