In the banking sectors of SEE counties, it appears that the degree of progress towards achieving international best standards has not been the same in all areas of regulatory and supervisory interest, particularly as regards the implementation and enforcement capabilities of the competent authorities.
This has promoted the distribution of these stages to the most cost-effective locations. One consequence has been a shift of fabrication jobs to low-wage locations in emerging markets. Even in services, complex tasks, such as professional and health services, are now being separated into their higher-value-added and routine components, leading to outsourcing and job displacement.