The main thrust of these recommendations has been high on the post-crisis regulatory agenda. Allow me to briefly recount the most relevant features of the ongoing reform of the financial sector at the international level. First, the Financial Stability Board (FSB) is investigating the options for introducing regulations covering the specific risks related to large and complex systemic financial institutions.
Lowering the barriers that prevent enterprises from exiting the market will likewise foster growth. It would facilitate what Joseph Schumpeter called "creative destruction". OECD research suggests that policy-induced exit barriers matter for productivity growth, because fewer exits lead to less scope for productivity spillovers and to the misallocation of labour, capital and skills.