Public accountability and parliamentary scrutiny in finance
Barrett, Sean, Corbet, ShaenORCID: 0000-0001-7430-7417 and Larkin, CharlesORCID: 0000-0002-0352-2504
(2019)
Public accountability and parliamentary scrutiny in finance.
European Journal of Risk Regulation, 11
(1).
pp. 94-108.
ISSN 1867-299X
The purpose of parliament is to present a discussion of policy in a fashion that will
bring about a consensus that results in collective action. Such a collective action serves the
common good of the state, although second-order effects and Pareto optimality is difficult
to obtain, if not impossible. Parliament attempts to address the second-best world in
a socially optimal fashion. As such accountability and scrutiny are the key tools through
which such a body can address the challenges faced by a financial sector faced with profound
difficulties. Such accountability is of paramount importance to provide sustainable public
trust in parliament.
Metadata
Item Type:
Article (Published)
Refereed:
Yes
Uncontrolled Keywords:
Public Accountability; Financial Crisis; Banking Crisis; Public Inquiry