Ethical infrastructure of emerging markets

Marie Bohatá

Prague Economic Papers, 1997, vol. 1997, issue 2

Abstract: The emerging negative phenomena in Central and Eastern Europe underlines the importance of the need for an ethical infrastructure of emerging markets to be built. Logically, the first step must be a formal, e.g. legal infrastructure, which is also, for obvious reasons, under principal reconstruction. The challenge here is not only that the new law must be passed but also correctly interpreted and fully implemented. For some people compliance with law is sufficient; for others this represents only the minimal ethical requirement. The role of individuals and institutions, especially governments, in the process of building the ethical infrastructure is understood differently in the CEE countries. There might be even bigger differences in the future, as market experience grows and markets mature, however, at different speeds in individual countries. It may be assumed that introducing a market system and cultivating the culture of the market necessitate different accents.

Date: 1997
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DOI: 10.18267/j.pep.125

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