Safety-net considerations may have affected the willingness of local depositors to keep their assets with local banks and the willingness of foreign banks to lend to local banks. For an overview of such considerations, see Bank for International Settlements (1996b) and (1998a). The former phrase was introduced by McKinnon and Huw (1996), the latter more famously by Alan Greenspan.
Disclosure has characteristics of a public good and may therefore be riddled with free-rider problems. [9] Thus, a voluntary approach may not provide the optimum quantity and quality of information from an aggregate point of view. [10] Given the experiences gained thus far, governments’ current initiatives for moving toward mandatory climate-related disclosures are a step in the right direction.