The effective default of the government of Russia on some of its obligations and the travails of LTCM in rebuilding its capital in the face of enormous trading losses – occurring as they did so soon after the crisis in Asia – triggered a generalized reassessment of risk-taking by investors and market makers.
I expect to see increased interaction between business managers and the markets, a shift in the mindset of managers toward a focus on sustainable growth, proactive procurement of investment funds for growth, and reforms to business  12  models and portfolios. I hope that these factors will increase productivity in the economy as a whole.