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Summary of the G-20 Workshop on Developing Strong Domestic Financial Markets, 26-27 April 2004

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  • Joerg Stephan, Deutsche Bundesbank
  • James Powell, Bank of Canada
  • Robert Lafrance, Bank of Canada
  • James Haley, Bank of Canada

    (Bank of Canada)

Abstract

G-20 representatives, academics, market participants, and members of international financial institutions were brought together in Ottawa to explore the connection between robust financial markets and economic growth and development, share experiences, and to develop policy recommendations, where possible. Participants identified several areas they deemed critical for fostering strong domestic financial markets and reducing external vulnerability: sound macroeconomics policies, strengthened financial infrastructures and banking systems, and exchange rate flexibility for countries with widely open capital accounts. Papers presented in the six sessions and keynote address highlighted a number of issues, including currency mismatches, the sequence of financial liberalization and supervisory reforms, the development of local financial markets, infrastructure building and governance, and appropriate incentives.

Suggested Citation

  • Joerg Stephan, Deutsche Bundesbank & James Powell, Bank of Canada & Robert Lafrance, Bank of Canada & James Haley, Bank of Canada, 2004. "Summary of the G-20 Workshop on Developing Strong Domestic Financial Markets, 26-27 April 2004," Bank of Canada Review, Bank of Canada, vol. 2004(Autumn), pages 33-42.
  • Handle: RePEc:bca:bcarev:v:2004:y:2004:i:autumn04:p:33-42
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