Especially for us, emerging markets’ policy makers, as we have to catch up with the standards of living of our population and, most importantly, build institutions and credibility at the same time. In fact, it is more a synchronic than a sequential two-fold challenge: advancing towards the development of our economies and building institutions simultaneously.
Today, this approach seems to be the rule rather than the exception not only in the emerging world but also all across developed countries. 4  BIS Review 88/2009