Yet none was subject to a statutory ex ante framework for prudential regulation. Solving the boundary problem alone will not counterbalance contemporary sources of systemic risk. The rapid development of market-based financial intermediation has also highlighted the need for a macroprudential regulatory approach to complement more conventional prudential supervision. Of course, systemic risk and the associated problem of too-big-to-fail have long concerned financial regulators.
Before discussing productivity in services, I need to dispel the myth that we can grow tourism and international business by lowering our prices. Barbados commands a tiny share of Caribbean tourism, less than 5 percent, and a miniscule percentage of global tourism to tropical resorts.