Perhaps the main difference from past discussions is that today these challenges have to be addressed in a more complex global environment dominated by the legacies of the global financial crisis and faster technological progress. The former has left most developed economies in a period of sluggish economic growth, spurring a lively debate among economists on longer-term prospects and raising increasing concerns among policy-makers.
An efficient financial system is required for investors to receive the highest risk-adjusted returns on their investments, and for borrowers to minimize the costs of raising capital. Since the efficiency of the system suffers when markets function poorly, policy-makers have an interest in promoting well-functioning markets.