This chapter provides an overview of market practices, market structure, and official supervision and regulation in financial markets. This paper also highlights the key features of modern banking and over the counter (OTC) derivatives markets that seem to be relevant for assessing their...

Learning lessons -- Blessings and perils of liberal finance -- Financial crises in the era of globalization -- From crises to imbalances -- Calm before a storm -- Toward adjustment and domestic reform -- Toward global reform -- Toward a more stable world