Market participants estimate how prices and investment flows are likely to behave for new instruments, but their understanding becomes more detailed and more accurate only as behavior under a variety of economic conditions is observed, and the development of that understanding obviously takes time.
[While micro, small, and medium enterprises (MSMEs) account for more than] 98 percent of numbers [of all enterprises in the Philippines, they have a] much smaller percentage of value. On the other hand, the top five banks account for, maybe, 60 percent of [system-wide] assets. And that is the way the economy goes. But nonetheless, every small transaction counts. Let me cite another example.