I think many policymakers in emerging market countries have also had a similar obsession. The plan of my exposition today is as follows. First, I will briefly talk about some theories regarding financial crisis and secondly I will review the history of financial crises with a special focus on the period since the 1980s.
To understand the situation in which we are placed, it is helpful to look back and draw some implications from the past. Lastly, I will discuss the measures under discussion in the G20 to lower the probability of future crises and mitigate their impact on the world economy. 2.