Trust, Confidence, and the 2008 Global Financial Crisis
Trust, Confidence, and the 2008 Global Financial Crisis
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DOI：
10.1111/j.1539-6924.2009.01230.x
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发表时间：
2009-06-01
期刊：
影响因子：
3.8
通讯作者：
Earle, Timothy C.
中科院分区：
文献类型：
--
作者：
Earle, Timothy C.
2008年全球金融危机被比作“百年一遇的信贷海啸”，在这场灾难中，信任和信心的丧失起到了关键的推动作用，而从危机中恢复将需要恢复这些关键因素。借助金融危机与环境和技术危害之间的类比，近期关于信任和信心在后者中所起作用的研究被用于为前者提供一个视角。然而，在大多数关于金融危机的讨论中，“信任”和“信心”被交替使用且没有明确的定义，这个视角利用合作的TCC模型来明确区分两者，并展示这种区分如何能够使人们更好地理解危机。针对危机中的三大主要行为主体——监管机构、银行和公众，分别讨论了信任和信心在危机引发以及可能的恢复过程中所起的作用。还考察了信任和信心在更大的风险管理背景下所起的作用；信任与政治手段相关，信心与技术相关。最后，考虑了政府在信任方面可以采取的各种立场，比如支持或怀疑。总体而言，有人认为，清晰地理解信任和信心，并仔细研究危机的具体实际情况——揭示何时信任或信心是恰当的——能够为恢复以及预防未来类似情况的发生提供有益的见解。
The 2008 global financial crisis has been compared to a "once-in-a-century credit tsunami," a disaster in which the loss of trust and confidence played key precipitating roles and the recovery from which will require the restoration of these crucial factors. Drawing on the analogy between the financial crisis and environmental and technological hazards, recent research on the role of trust and confidence in the latter is used to provide a perspective on the former. Whereas "trust" and "confidence" are used interchangeably and without explicit definition in most discussions of the financial crisis, this perspective uses the TCC model of cooperation to clearly distinguish between the two and to demonstrate how this distinction can lead to an improved understanding of the crisis. The roles of trust and confidence-both in precipitation and in possible recovery-are discussed for each of the three major sets of actors in the crisis, the regulators, the banks, and the public. The roles of trust and confidence in the larger context of risk management are also examined; trust being associated with political approaches, confidence with technical. Finally, the various stances that government can take with regard to trust-such as supportive or skeptical-are considered. Overall, it is argued that a clear understanding of trust and confidence and a close examination of the specific, concrete circumstances of a crisis-revealing when either trust or confidence is appropriate-can lead to useful insights for both recovery and prevention of future occurrences.