At the International Research Conference hosted by us, Mr John Lipsky of the IMF while focussing on the importance of finance for rapid and sustainable growth, observed, and I quote, “While some might consider this topic odd in light of the current crisis, I will seek to draw out some key lessons of recent events for the appropriate policy stance toward financial innovation.
Whims and caprices of individuals should not be allowed to play havoc as they not only undermine the confidence of existing firms but also deter new investors from engaging in production. Fourth, the Government has to ensure that physical infrastructure and adequately trained and educated labor force are available in sufficient quantities so that the private firms derive benefits from reduced cost of production.