In doing so, ex ante and ex post financial regulation -- monitoring excessive risk-taking behavior of financial institutions and setting up a resolution mechanism -- as well as macroprudential policy -analyzing and assessing systemic risk in the financial system as a whole and taking policy measures based on it -- play key roles (Wakatabe [2015], pp.142-147).
Regrettably, after Japan's financial crisis, policymakers across the globe could not prevent the Global Financial Crisis.