Graph 1  5  4  G Stevens (2013), ‘The Australian Dollar: Thirty Years of Floating’, Speech at the Australian Business Economists’ Annual Dinner, Sydney, 21 November; Ballantyne A, J Hambur, I Roberts and M Wright (2014), ‘Financial Reform in Australia and China’, RBA Research Discussion Paper 2014–10.
Would we have seen significantly more equity issuance at this earlier date by the big firms, and hence a better outcome for the real economy? On the one hand, there is some reason for optimism on this score.