Is Shareholder Capitalism a Defunct Model for Financing Development?

Gerald F. Davis
Additional contact information
Gerald F. Davis: Gerald F. Davis is at the Ross School of Business, The University of Michigan, Ann Arbor, Michigan. E-mail: gfdavis@umich.edu

Review of Market Integration, 2010, vol. 2, issue 2-3, 317-331

Abstract: Shareholder capitalism, and the American system of corporate governance that serves as its operating system, has been held out as a model of economic development for emerging markets for the past generation. This article unpacks the origins of this model within the US and argues that the model has had at best mixed success outside the US. Moreover, the fallout from the two financial bubbles of the early 21st century suggests that shareholder capitalism may not work as advertised even within the US. In the wake of the financial crisis, wise policymakers will draw on a diversity of models rather than hewing to the ‘one best way.’

Keywords: Economic development; financial markets; shareholder capitalism; globalisation (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journals.sagepub.com/doi/10.1177/097492921000200306 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:revmar:v:2:y:2010:i:2-3:p:317-331

DOI: 10.1177/097492921000200306

Access Statistics for this article

More articles in Review of Market Integration from India Development Foundation
Bibliographic data for series maintained by SAGE Publications ().