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Part I reviews important logical foundations that show how the process of finance is related to real economic processes and why finance can and should be viewed as providing public goods and requiring forms of private-collective and public policy action.
Part II proposes and develops a comprehensive and practical framework for safeguarding financial stability encompassing both the prevention and the resolution of financial imbalances, problems, and crises.
Part III examines ongoing real world challenges to financial stability posed by recent structural financial changes such as the globalization of finance, the growing reliance on over-the-counter derivative instruments and markets, the growth of credit derivatives markets, and the capital market activities of insurance and reinsurance companies.