Furthermore, in the ‘90s and the first few years of this decade, Israel gradually abolished all exchange controls. The concept behind this economic strategy was that a small economy like that of Israel, can exhaust its growth potential only by being open to the world.
One open question is whether we should raise the bar even further by establishing minimum, binding margin floors, as is now the case for non-centrally cleared securities financing transactions.5 I trust our panellists will share their insights on this issue.