Volatile asset price leads to an unstable financial system, and is thus an obstacle to sustainable economic growth. What is important in the region is to enhance the market capacity for receiving capital flows, or in other words, to dramatically improve the situation of being “a big fish in a small pond”.
* * * Many thanks to the organisers for letting me participate remotely in this panel alongside such distinguished speakers. And thank you to the Chair of the panel for allowing me to open the discussion with some remarks on the importance of transition planning.