An issue which arises here is that the separation of business is clearly more complicated in smaller currencies than it is in the more heavily traded currencies. In response to these issues, I will consult with my fellow central banks and securities regulators on these questions and determine if more guidance can be given around this.
Empirical studies have advanced several economic factors that are likely to play a key role in fostering innovative investments. These factors are: 1. good education and research subsidy systems, 2. well-functioning product and labour markets, 3. well-developed financial systems, and 4. macroeconomic stability. The balance in a majority of empirical studies seems to confirm the positive link between education and productivity.