It is not about completely curbing risks and fluctuations in the financial markets but instead about reducing negative externalities caused by the distress of individual institutions or market segments. Here, we need to ask ourselves how “financial stability” can be measured and concrete indicators formulated.
On the one hand, the problem of ageing is a bit premature for many Asian economies (e.g., India, Pakistan, Bangladesh) while for some it is getting too late (e.g., Korea, China).