Adjusting to new technologies takes time, and it is plausible that such an adjustment process has continued to boost productivity growth in recent years. Although cyclical forces and lags in the assimilation of new technologies have been important, their influence is likely to be transitory.
Since the global financial crisis, the regulatory framework has been substantially reformed, through the work of the Financial Stability Board, international standard-setters, regional bodies such as the European Commission, and the new laws and regulations established in jurisdictions all over the world.