Policy-makers have struggled during the past five years to achieve the conditions necessary for global financial stability, but achieving this end might be easier if the issue was viewed as a problem of ‘public good provision', according to Masaaki Shirakawa, governor of the Bank of Japan.

Speaking at the annual meeting of the IMF/World Bank Group, hosted by Japan, Shirakawa said though the need to strengthen global governance has been widely accepted and the financial crisis has accelerated the