Over the longer term, the key to restoring competitiveness is containing domestic inflationary pressures, including the evolution of pay, and to improve productivity growth. A number of policy measures are relevant in this regard including boosting competition, reducing the regulatory burden on business, investing in infrastructure, improving educational standards, encouraging R&D and innovation, maintaining macroeconomic stability and increasing flexibility.
Institutional issues  There are several institutional issues related to debt markets and each of them is critical but they are not necessarily interrelated. These are many, but this section focusses on some of them, namely, institutional investors in debt markets, self-regulatory organisations, banks, credit rating agencies and the tax regime.