Chart 16 reveals that the perception indicator grew sharply in 2008 compared with one- and five-year inflation expectations. This suggests that although households found that present prices had increased sharply in 2008 compared with one year earlier, they believed that that extreme price hike would eventually be contained.
Corporate governance that defines the distribution of power invariably reflects the most profoundly held societal views about the appropriate interaction of parties in business transactions. It is thus not a simple matter to append a capital markets infrastructure to an economy developed without it.