David Klein: The opening of the financial markets and the efficiency of Israel’s macroeconomic policy Address by Mr David Klein, Governor of the Bank of Israel, to the Herzliya Interdisciplinary Center, Herzliya, 17 May 2001.
The inevitable investment mistakes and governmental policy failures are more rapidly transmitted to other markets by this process than was the case say twenty, or even ten, years ago. Moreover, there is little evidence to suggest that the rate of increase of financial transactions will slow materially in the years immediately ahead.