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Macroprudential Approach to Regulation—Scope and Issues

Author

Listed:
  • Shyamala Gopinath

    (Asian Development Bank Institute (ADBI))

Abstract

This paper provides an overview of the Reserve Bank of India’s approach to macroprudential regulation and systemic risk management, and reviews lessons drawn from the Indian experience. It emphasizes the need for harmonization of monetary policy and prudential objectives, which may not be possible if banking supervision is separated from central banks. It also notes that supervisors need to have the necessary independence and flexibility to act in a timely manner on the basis of available information. Macroprudential regulation is an inexact science with limitations and needs to be used in conjunction with other policies to be effective.

Suggested Citation

  • Shyamala Gopinath, 2011. "Macroprudential Approach to Regulation—Scope and Issues," Governance Working Papers 23250, East Asian Bureau of Economic Research.
    • Handle: RePEc:eab:govern:23250
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    File URL: http://www.eaber.org/node/23250
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    More about this item

    Keywords

    Macroprudential regulation; Reserve Bank of India; systemic risk managemen; banking supervision;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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