But I believe this should facilitate efficient allocation of resources to high-growth industries, contributing to sustainable growth in the long run. To accelerate such structural change, determined efforts on the part of policy makers are also important. Such efforts should include deregulation, tax reform and improvement of accounting and 1  BIS Review 108/2000  legal systems.
The Bank of Japan, as a central bank, must contribute to ensuring a stable macroeconomic environment through appropriate monetary policy measures, which will form the basis for creative and future-oriented corporate activity. In addition to this, the Bank of Japan assumes important responsibilities in improving the financial market and payment system infrastructure.