Symposium Introduction: The Global Financial Crisis, Governance and Institutional Dynamics

Abstract

This Introduction sets the scene for the Symposium by appreciating the significance of analyzing the global financial crisis and responses to it from governance and institutional perspectives. There were clear systemic failures that had long existed and continue to be in need of concerted action. These failures and relevant responses are appropriately addressed in terms of the intertwining of states, markets and civil societies, with associated reference to choices and opportunities, principal-agent relationships, guardians and the guarded, and levels of maturity, responsibility and trust. There are significant systemic challenges which remain to be met.