Thus, an increase in the number of participants in the clearing and/or settlement system will also increase the range and the level of the services provided to existing members. The existence of high fixed investment costs resulting in economies of scale makes a single infrastructure for clearing and settlement more efficient than several systems serving the same market.
The exposure of students and faculty from other divisions to the discipline and approaches of economics has stimulated creative thinking about how technology can be used to improve the economic welfare of the average person. That thought brings me to my second topic: the link between technology and economic growth.