Where do governments fit into innovation?
The global financial system began 2014 in a chaotic, volatile state, as the US Federal Reserve (Fed) finally began its “tapering” action – a reduction in quantitative easing. The impact has been felt hardest by emerging markets’ currencies, on the edge of the investment universe. Already knocked by the Fed’s warning in the summer of 2013 that it would begin tapering, emerging markets’ currencies remained under devaluation pressure going into the first quarter of 2014, as retail investment funds flowed…
