rba speech, 2005-10-20
In brief, we want a set of arrangements which facilitate: - the intermediation of private saving and investment, fostering resource allocation so that saving earns the highest risk-adjusted return, and that those with the skills to deploy capital can get it, and at the cheapest price; - an efficient, reliable and safe way of making payments; - mechanisms for private economic entities to manage their risks (either paying others to take the risk or accepting payment to take on risk); - availability of suitable financing for public-sector activities; - the avoidance of financial crises, if at all possible, or, if not possible, at least minimisation of their severity.
Sentiment: neutral
Topic: governance