While Australia has been well served by its financial institutions and markets over many years, we need to make sure the regulatory environment remains conducive to new forms of finance that can help fund innovation and the development of new ideas.
The recent work by the Australian  4  BIS central bankers’ speeches  Government to facilitate crowd-sourced equity funding is a step in this direction.3 Here, the challenge is to get the balance right between funding innovation and protecting investors. Most of the areas, though, that affect the flexibility of the economy lie beyond the world of central banks and finance.