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The Role of Financial Governance in Achieving Development

Latfe Alhusseinawi (), Ileana Ashrafzade (), Alberta Gisberto () and Jawad Zghair ()
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Latfe Alhusseinawi: University of Sumer, Thiqar, Iraq
Ileana Ashrafzade: Bucharest University of Economic Studies
Alberta Gisberto: Bucharest University of Economic Studies
Jawad Zghair: The Ministry of Education, Thiqar, Iraq


Abstract: The present research aims to determine the governance and financial mechanisms, to identify possibilities and necessities of strategic and financial governance in Malaysia and to propose ways of employing them it to accelerate the economic development. The subject of financial governance has arisen and given more attention after the Asian financial crisis in the late last century. This concern has been reiterated in the context of the global financial crisis in 2008, after the failure of traditional methods in preventing the causes of those financial meltdowns. The research concludes set of conclusions, the most important one being the fact that Malaysia has benefited from the application of the system of governance in getting out of two global crises and took lessons from this experience in improving the performance of its organizations and the development of protective measures for its financial and economic system. Recommendations focus on the necessity of taking advantage from the Malaysian experience in the application of financial governance mechanisms to address the challenges facing the development in Iraq.

Keywords: Financial Governance; Economic Development; Malaysian Governance; Strategic Necessities (search for similar items in EconPapers)
Date: 2018
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Handle: RePEc:rom:conase:v:1:y:2018:i:1:p:109-115