A Quote by Toshihiko Fukui
Well-functioning financial systems are important in achieving sustained economic growth. They play a crucial role in channeling household savings into the corporate sector and allocating investment funds among firms.
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The financial sector is vital to the economy. A well-functioning financial sector promotes job creation, innovation, and inclusive economic growth.
The global financial system consists of firms in the financial services sector - banks, hedge funds, insurance companies and the like - and various governmental agencies who are charged with regulating these firms.
You need in the long run for stability, for economic growth, for jobs, as well as for financial stability, global economic institutions that make sure that growth to be sustained has to be shared, and are built on the principle that the prosperity of this world is indivisible.
Although not well known outside Wall Street, Freddie Mac and its corporate cousin, Fannie Mae, are two of the world's largest financial institutions and play a crucial role in the housing market.
I suspect that many corporations have begun to understand that they have an important role to play in the lives of their communities, and that allocating funds to support local groups helps them discharge that function and also burnish their image.
What is important is that in a capital-scarce country like India, the real interest rate needs to be positive enough to encourage healthy growth of financial savings; we get into macro difficulties when real rates on financial savings become negative for a length of time.
Hedge funds, private equity and venture capital funds have played an important role in providing liquidity to our financial system and improving the efficiency of capital markets. But as their role has grown, so have the risks they pose.
Properly targeted public investment can do much to boost economic performance, generating aggregate demand quickly, fueling productivity growth by improving human capital, encouraging technological innovation, and spurring private-sector investment by increasing returns.
Our most important priority is sustained economic growth, and I think we can absolutely get to sustained 3% to 4% GDP, and that is absolutely critical for the country.
Strong economic growth, and especially a significant increase in private sector investment, is the only sustainable path forward for Rwanda.
The financial crisis and the Great Recession left firms with excess capacity, reducing incentives to invest. If businesses expect slower growth to continue, that will also hold down investment.
Systems are corporate funded mechanisms for increasing efficiency; programs are user funded mechanisms for increasing effectiveness. Programs should generally be charged back to users, systems should never be. Allocating corporate overhead to the operating units is simply a mistake.
Governments must take on the central role of creating an investment climate across Africa that supports enterprise and the role of the private sector and provides a clear and predictable economic policy framework for business to succeed.
In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms.
In response to the drop in wealth suffered as a consequence of the 2008 financial crisis, homeowners and firms did attempt to increase savings in financial assets by reducing expenditure on durables.
Among other objectives, liquidity guidelines must take into account the risks that inadequate liquidity planning by major financial firms pose for the broader financial system, and they must ensure that these firms do not become excessively reliant on liquidity support from the central bank.
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