This brings its own challenges even to large emerging market economies. Large capital flows can hamper the functioning of monetary policy, and financial stability may also sometimes be at risk, especially if external indebtedness is high. Again, I welcome you all to the 25 Anniversary Conference of BOFIT. I hope that today’s programme will be intellectually inspiring and stimulating for us all.
Insurance companies design insurance policies and set their fees at appropriate levels by also collecting and analyzing data. These insurance schemes allow society to efficiently redistribute risks among various entities, and enhance its resiliency against future uncertainty. As such, the financial and insurance industries have indeed promoted economic growth in modern and postmodern society. II.