In a lecture delivered at a Bank of Japan Institute for Monetary and Economic Studies conference last week, Agustín Carstens, General Manager of the Bank for International Settlements (BIS), argued that public trust is a critical enabler of success when deploying macroeconomic, regulatory, and supervisory policy.
"Without trust, public policies cannot succeed," he warned, outlining a "virtuous circle" in which effective policies build credibility, enabling future reforms. In contrast, he argued, failure to maintain coherence across fiscal, monetary, and financial policy quickly erodes legitimacy and stability.
This content is available to paid Members of Starling Insights.
If you are a Member of Starling Insights, you can sign in below to access this item.
If you are not a member, please consider joining Starling Insights to support our work and get access to our entire platform. Enjoy hundreds of articles and related content from past editions of the Compendium, special video and print reports, as well as Starling's observations and comments on current issues in culture & conduct risk management.
Join The Discussion
Sign in and be the first to comment.