Contents

FOREWORD
Cathy E. Minehan

BUILDING AN INFRASTRUCTURE FOR FINANCIAL STABILITY: AN OVERVIEW
Eric S. Rosengren and John S. Jordan

LESSONS FROM THE EAST ASIAN EXPERIENCE: OPENING ADDRESS
Jagdish N. Bhagwati

BUILDING THE LEGAL AND REGULATORY FRAMEWORK
John L. Walker, Esq.
Discussion by Holly J. Gregory, Esq.
Discussion by Mark A. Walker, Esq. and Eric Kolodner, Esq.

THE ROLE OF FINANCIAL REPORTING IN REDUCING FINANCIAL RISKS IN THE MARKET
S. P. Kothari
Discussion by Marisa Lago
Discussion by Gerhard G. Mueller

REFORMING BANK SUPERVISION IN DEVELOPING COUNTRIES
Ruth de Krivoy
Discussion by Frederic S. Mishkin
Discussion by John G. Heimann

IMPLICATIONS OF THE GLOBALIZATION OF THE BANKING SECTOR:
THE LATIN AMERICAN EXPERIENCE
Joe Peek and Eric S. Rosengren
Discussion by Joseph R. Bisignano
Discussion by Andrew Powell

COASE AND THE REFORM OF SECURITIES MARKETS
Simon Johnson
Discussion by Annette L. Nazareth
Discussion by Donald H. Straszheim

ROUNDTABLE:
POLICIES TO PREVENT FUTURE CRISES

PROPOSALS AND IMF ACTIONS TO REDUCE THE FREQUENCY OF CRISES
Stanley Fischer

STRENGTHENING THE EMERGING MARKET ECONOMIES
Jeffrey A. Goldstein

POLICY PRESCRIPTIONS FOR EAST ASIA
Masaru Yoshitomi

THE IMPORTANCE OF RISK MANAGEMENT
Andrew L. T. Sheng

About the Authors

Conference Participants