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Corporate Governance and National Development

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  • Charles P. Oman

Abstract

Corporate governance matters for national development. Case studies of Argentina, Brazil, Chile, China, India, Malaysia and South Africa suggest that it has a role of growing importance to play in helping to increase the flow of financial capital to firms in developing countries. Equally important are the potential benefits of improved corporate governance for overcoming barriers, including the actions of vested interest groups, to achieving sustained productivity growth. Improved corporate governance, however, cannot be considered in isolation. In the financial sector, attention must also be given to measures to strengthen the banking sector, and a country’s financial institutions as a whole. In the “real” sector, close attention must be given to competition policy and sector–specific regulatory reform. Forces working in favour of improved corporate governance in developing countries include those operating both on the demand and on the supply side of domestic and international ... La gouvernance des entreprises est un élément clé de développement national. D’après une série d’études de cas (Afrique du Sud, Argentine, Brésil, Chili, Chine, Inde et Malaisie), elle joue un rôle de plus en plus important dans l’accroissement des flux de capitaux destinés à financer les entreprises des pays en développement. Tout aussi importants sont les bénéfices potentiels d’une meilleure gouvernance des entreprises pour surmonter les obstacles (notamment les actions des groupes d’intérêts cartélisés) à une croissance durable de la productivité dans l’économie « réelle ». L’amélioration de la gouvernance des entreprises ne peut cependant pas être considérée hors de son contexte. Du côté du secteur financier, il faut s’attacher également au renforcement du secteur bancaire et des institutions financières nationales dans leur ensemble. Du côté du secteur réel, la politique de la concurrence et les réformes réglementaires sectorielles doivent faire l’objet d’une attention ...

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Bibliographic Info

Paper provided by OECD Publishing in its series OECD Development Centre Working Papers with number 180.

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Date of creation: Oct 2001
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Handle: RePEc:oec:devaaa:180-en

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Cited by:
  1. Gilberto E. Arce & Edgar Robles C., 2005. "Corporate Governance in Costa Rica," Research Department Publications 3218, Inter-American Development Bank, Research Department.
  2. T. G. Arun & J. D. Turner, 2004. "Corporate Governance of Banks in Developing Economies: concepts and issues," Corporate Governance: An International Review, Wiley Blackwell, vol. 12(3), pages 371-377, 07.
  3. Reaz, Mazrur & Arun, Thankom G., 2005. "Corporate Governance in Developing Economies: Perspective from the Banking Sector in Bangladesh," Development Economics and Public Policy Working Papers 30545, University of Manchester, Institute for Development Policy and Management (IDPM).
  4. Alejandro Izquierdo & Alejandro Micco & Ugo Panizza & Alberto E. Chong, 2003. "Corporate Governance and Private Capital Flows to Latin America," IDB Publications 6505, Inter-American Development Bank.
  5. Gilberto E. Arce & Edgar Robles C., 2005. "Gobierno Corporativo en Costa Rica," Research Department Publications 3219, Inter-American Development Bank, Research Department.
  6. Chisari, Omar O. & Ferro, Gustavo, 2009. "Gobierno Corporativo: los problemas, estado actual de la discusión y un ejercicio de medición para Argentina
    [Corporate Governance: the problems, the current stage of the discussion and a measure
    ," MPRA Paper 15630, University Library of Munich, Germany.
  7. Thierry Mayer, 2006. "Policy Coherence for Development: A Background Paper on Foreign Direct Investment," OECD Development Centre Working Papers 253, OECD Publishing.
  8. repec:onb:oenbwp:y:2010:i:1:b:1 is not listed on IDEAS
  9. Sándor Gardó, 2010. "Bank Governance and Financial Stability in CESEE: A Review of the Literature," Focus on European Economic Integration, Oesterreichische Nationalbank (Austrian Central Bank), issue 1.
  10. Alberto Chong & Alejandro Izquierdo & Alejandro Micco & Ugo Panizza, 2003. "Conducción empresarial y flujos de capitales privados hacia América Latina," Research Department Publications 4324, Inter-American Development Bank, Research Department.
  11. Vicente Cu�At, 2009. "Finance for Development: Latin America in a Comparative Perspective. By BARBARA STALLINGS with ROGERIO STUDART," Economica, London School of Economics and Political Science, vol. 76(301), pages 216-217, 02.

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