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Restoring Institutional Trust: A Systemic Approach
The global financial crisis has caused public trust in institutions to fall to its lowest level in history. The authors begin by defining the three elements of the 'trust failure' that has taken place, and then present six strategies for repairing trust. These include increasing external regulation, changing the way boards function and fostering a culture change. They end by warning that a number of reforms have been put in place to restore institutional trust, but the jury is still out as to whether they will 'stick' over time.