So far, national and international bodies have focused on monitoring the implementation of these reforms (FSB 2016). To answer the question of how financial sector reforms have affected market dynamics and the real economy, we need to go a step further. In 2017, the G20 leaders have thus adopted a framework for the evaluation of reform effects (FSB 2017).
We need to deal with a host of new issues which are constantly cropping up: how well can crowdfunding and peer-to-peer lending, for instance, support the economy in a slump? What systemic risks lurk in algorithms if they are widely used to aid customers’ decisions?