By John Lipsky in Jackson Hole
Despite tentative signs that the global recession is ending, it’s clear that a full recovery will remain inhibited until financial markets are restored to health. While financial market conditions have improved—reflecting among other things massive public sector support—key credit channels remain strained, creating a drag on growth.
One of the keys to strengthening financial markets will be to put securitization markets on a sounder footing, an issue I discuss below.
Rebuilding active and innovative financial systems will be critical for sustaining a new global expansion. After being propped up by government intervention, a […]