The reason the rate of productivity growth matters so much is that it is a basic determinant of the rate of growth of average income per capita over long periods.1 To understand that one needs to know only the trick of calculating how long it takes for a growing economy to double.
Developments in regulation and supervision  The integration of the markets and the broad process of internationalization can facilitate the spread of instability, even if localized at first, and require a coordinated response.