Greater efficiency in the delivery of financial services to ensure that the cost of mobilising resources and allocating these resources becomes increasingly affordable and that the range and quality of services better caters to the needs of both savers and investors;  iv.
The more sophisticated the financial markets are, the more easily a country can finance its payments deficit; and the less urgently needed is a policy to adjust the domestic economy. I can still hear Alan Greenspan saying: “it is tempting to conclude that the US current account deficit is essentially a by-product of long-term secular forces, and thus is largely benign.