Working Group Meeting on Financial Markets Development and Impact of Central Banks in Warsaw, Poland, 2009

warsaw-1The first meeting of the Working Group on Financial Markets Development and Impact of Central Banks was held on 17 November 2009 in Warsaw, Poland. The purpose of this meeting was to initiate dialogue between countries from the South Caucasus and Ukraine, OECD countries and key representatives of the private equity industry, business incubators, research institutions and government regulators to discuss regulatory measures to support entrepreneurship in the region through better financial sector regulation and innovative financing arrangements.

Questions addressed in this meeting included:

  • What are the challenges in financial markets reform faced by transition economies?
  • How to regulate financial sectors appropriately, in times of economic crisis and beyond?
  • What should be the role of supervisory authorities?
  • How to build national and regional financial markets to develop into a financial centre? – Learnings from other transition economies;
  • How to finance economic growth in the South Caucasus and Ukraine region in times of crisis? – Developing guidelines for the monitoring and evaluation of targeted programmes to support financing of high growth SMEs;
  • How to develop innovative sources of financing, such as venture capital, business angels networks and micro-finance facilities?

On the meeting of the working group, Georgia was represented by Prof. Dimitri Japaridze who had offered and overview of country’s attempts to improve competitiveness through better policy design and implementation (See the presentation here).