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Safeguarding Financial Stability-Some Issues in Market Design
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Dr. Nachane’s paper is an outstanding survey of various issues concerning a very complex problem. I would say that financial crises are a social problem. These definitely are recognised more as macro problems and are being increasingly recognised as political problems. But I think there is insufficient recognition of the social ramifications of the issue, which is a very serious dimension to financial crisis episodes. I would like to present some supporting stories to this thought as we go ahead.
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