The indirect negative effects of such regulations on long-term investment are, by nature, more difficult to discern, but they can be just as harmful as the direct effects – especially if they leave investors with fewer funds available for long-term investment. Margin requirements for derivatives transactions have this effect, as do regulations that increase banking costs.
这些监管措施对长期投资的间接消极影响自然更加难以识别，但其伤害性不亚于直接影响——特别是当它们导致投资者可用于长期投资的资金减少的情况下。衍生品交易保证金要求就有这类影响，提高银行成本的监管措施亦然。