The ability to rely on the word of a stranger is integral to any sophisticated economy. A reputation for honest dealings within a business or financial corporation is critical for effective corporate governance. Even more important is the way outsiders view the corporation itself.
Glenn Stevens: Financial crisis developments – impact on the Australian economy Opening statement by Mr Glenn Stevens, Governor of the Reserve Bank of Australia, to the House of Representatives Standing Committee on Economics, Canberra, 20 February 2009. *  *  *  Mr Chairman, thank you for the opportunity to meet again with the House Economics Committee.