Okun’s Law is named for economist Arthur Okun who, in the early 1960s, showed that in the United States, unemployment tended to fall by 1 percentage point for every three percentage point rise in GDP. 3  T. Macklem, “Information and Analysis for Monetary Policy: Coming to a Decision,” Bank of Canada Review (Summer 2002): 11–18.
Comprehensive financial reform will be carried out in rural areas, steps will be taken to deepen the reform of RCCs, and some pioneering work will be launched to explore an effective pattern to combine policy and commercial financial support for the rural economy. Participation of social capital in the restructuring of small and medium-sized financial institutions will be encouraged.