Abstract
Instead of learning from crises the same mistakes seem to get repeated. Therefore recollecting and extracting lessons from crises is essential. Key potential lessons are in anticipation, pre-emptive action, crisis management, and prevention. The paper details the internal and external shocks that hit India's financial system in the post-reform period and the regulatory lessons that were learnt and implemented as a consequence.
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More From: Macroeconomics and Finance in Emerging Market Economies
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