While there are various and conflicting views on the role of government in the economy and in promoting growth, most people agree that an important job of government is to facilitate growth and investment by creating a positive investment environment as well as investing in infrastructure which enables growth directly and indirectly by freeing up logistical bottlenecks in the economy.
While the crisis has brought many disappointments, international cooperation among central bankers has been vital and has worked beyond expectations. One lesson we have learned is that a financial crisis spreads rapidly from one continent to another. We are all interconnected and even more interdependent than we understood before the crisis.