Columbia International Affairs Online: Working Papers

CIAO DATE: 09/2014

Governance Challenges and the Financial Crisis: Seven Key Questions

Terry F. Buss, Lois Fu

June 2009

The National Academy of Public Administration


In the midst of a global economic crisis, the federal government responded on an unprecedented scale and scope, with injections of trillions of dollars into financial markets, infusions of cash to troubled industries, state and local governments, and people in need.

Government is employing tools in ways never before considered and inventing new tools, in the hope of stabilizing the economy and spurring economic recovery. Under the leadership of National Academy Fellow Don Kettl and National Academy President Jennifer Dorn, the National Academy of Public Administration convened a roundtable of government leaders, business leaders, researchers and other experts to discuss governance issues related to the government’s response to the financial crisis. Seven strategic questions related to governance emerged from the discussion, held earlier this year, which was moderated by Don Kettl. The National Academy and the IBM Center for the Business of Government are pleased to offer this summary of the roundtable in an effort to stimulate a national discussion of these questions.