Corporate Governance in Developing, Transition and Emerging-Market Economies

Charles Oman, Steven Fries and Willem Buiter
Additional contact information
Steven Fries: European Bank for Reconstruction and Development

No 23, OECD Development Centre Policy Briefs from OECD Publishing

Abstract: • Sound national systems of corporate governance are essential for all countries, including the poorest, to reap the benefits of globalisation. • “Corporate governance” comprises the institutions that govern the relationship between people who manage corporations and all others who invest resources in them. • The quality of local corporate governance critically affects a country’s ability to achieve sustained real productivity growth and the success of its long-term development efforts. • Pyramidal corporate-ownership structures, cross shareholdings and multiple share classes are widely used by corporate insiders in the developing world to extract corporate-control rents, exploit other investors and resist pressures to improve corporate governance. • The power of corporate insiders and their close relationship with those who exercise political power mean that sound corporate governance requires sound political governance, and vice versa.

Date: 2004-02-24
References: Add references at CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://doi.org/10.1787/604227826337 (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:oec:devaab:23-en

Access Statistics for this paper

More papers in OECD Development Centre Policy Briefs from OECD Publishing Contact information at EDIRC.
Bibliographic data for series maintained by ().