Market functionaries and agents have an equal role in enhancing their disclosure of data and information. But, studies seem to focus on one-sided communication from the policy makers. How far non-transparent and asymmetric markets could adversely affect the policy effectiveness of central banks? The recent sub-prime turmoil is a clear case in point. This may be worth examining.
For our country, Papua New Guinea, the facts speak for themselves. In spite of a richly endowed base of natural resources, we today have amongst the lowest socioeconomic indicators within the Pacific region. Our physical infrastructure has been allowed to deteriorate over the years, especially in the rural areas where the majority of our people live.