As stressed by the experience of the global financial crisis, financial stability is a second requirement to lay the basis for sustained growth. The standard recommendation here is the use of macroprudential policies, with simultaneous and coordinated efforts at the macroeconomic and microprudential levels.
To this, one must add the need to ensure the availability of more and better statistics, an appropriate analytical capacity and the creation of a suitable institutional framework. Although the international community has devoted a lot of energy to enhance our understanding of the policy framework needed to ensure financial stability, we still have many theoretical and empirical gaps in this field.