Corporate goverance and economic development in india
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Good financial systems are at the heart of sound development policies according to academic research, which makes their evolution in the Gulf all the more important.
Gulf News Report
d23:32 August 19, 2008
Good financial systems are at the heart of sound development policies according to academic research, which makes their evolution in the Gulf all the more important.
Corporate governance largely came to the centre of the international development agenda following the East Asian financial crisis. The crisis, of course, had some painful social and economic consequences, which prompted an urgent analysis as to its origins. And it is no secret now that faulty corporate governance in the financial system was a major culprit. As a result, adherence to good corporate governance is currently recognised as crucial in averting financial crises.
Incidentally, in addition to corporate governance, there is just as importantly two other types of governance: national and global. National governance can be defined as 'the manner in which power is exercised in the management of a country's economic and social resources for development', and covers, among others, aspects including a sound legal framework, prompt and efficient law enforcement processes, clear investment rules and appropriate oversight and accounting systems to monitor and implement budgetary policies.
Gulf News Report
d23:32 August 19, 2008
Good financial systems are at the heart of sound development policies according to academic research, which makes their evolution in the Gulf all the more important.
Corporate governance largely came to the centre of the international development agenda following the East Asian financial crisis. The crisis, of course, had some painful social and economic consequences, which prompted an urgent analysis as to its origins. And it is no secret now that faulty corporate governance in the financial system was a major culprit. As a result, adherence to good corporate governance is currently recognised as crucial in averting financial crises.
Incidentally, in addition to corporate governance, there is just as importantly two other types of governance: national and global. National governance can be defined as 'the manner in which power is exercised in the management of a country's economic and social resources for development', and covers, among others, aspects including a sound legal framework, prompt and efficient law enforcement processes, clear investment rules and appropriate oversight and accounting systems to monitor and implement budgetary policies.
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