Against the background of the G20’s work on global liquidity management, the BIS – via the Committee on the Global Financial System (CGFS) – undertook important groundwork leading to the Landau Report of the CGFS.1 The IMF carried out important complementary work in response to the G20’s initiative in 2011.2 And the central bank community as well as academia were closely involved in these joint research efforts.
BIS Review 92/1997  -6-  As a general proposition, those economies which have been out-performing us in terms of per capita growth have typically also been out-performing us in educational effort. Whether that is because those countries have better educational structures, or just have people who are more convinced of the crucial importance of a good education, I do not know.