Related to this, I will discuss briefly some recent studies that show how equal access to financial markets is an important determinant of competition in the broader economy. And finally, I will talk about productivity in non-market services; in particular, how improved productivity in the provision of public services will be indispensable in reconciling sharply rising old-age dependency with acceptable level public services.
The last aspect is particularly crucial now in Finland, which is the first EU country to face population ageing, but it will soon been a major issue for the others, too. But let me start with financial integration. Financial integration and growth It is difficult to think of a less opportune time to preach the virtues of financial integration.