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In this interview, Executive Director of the Centre for Development and Enterprise (CDE) Ann Bernstein discusses the development paths of India, Brazil, and South Africa and what the experiences of these countries tell us about whether a democratic market-based alternative to increasingly popular authoritarian approaches is emerging in the developing world. Bernstein also discusses the challenges facing these democracies and the reforms needed to strengthen them.Read more...
Современный деловой мир испытывает острую потребность в новом организующем принципе, который бы учитывал новые формы экономического роста, проливал свет на механизмы, доселе скрытые, и расширял круг рядовых участников экономического процесса. « Гражданской экономике» требуются институты, подобные тем, которые необходимы для создания сильного гражданского общества. В этом новом обществе владельцы предприятий, подотчетные миллионам своих акционеров и вкладчиков, посредством ответственного управления ведут компании к стабильности и процветанию. Аналогично гражданскому обществу, гражданская экономика одновременно создается ответственным руководством и обеспечивает ответственное руководство. Главная задача здесь – создание институтов, которые совместят в себе свободную торговлю и ответственность и оказались жизнеспособными в условиях стремительной глобализации.Read more...
China has enjoyed two decades of successful economic modernization which have given the government a possible foundation for popular legitimacy based on results – not ideology. But political reform is necessary to continue this process even further. The government should allow for the circulation of positive, constructive ideas, but the people have a responsibility to avoid flooding the vehicles of public discourse with simple complaints. The process of democratization in China will take decades, but slow progress is acceptable so long as it does not stop.Read more...
No amount of resources transferred to developing countries can compensate for the negative effects of bad governance on development. Good governance, typified by consistent and transparent practices regarding acceptable interaction between governmental and private actors in economic, social and political life, allows the public to provide input into the policy process through regular channels. Democratic governance enhances the legitimacy of government decisions in the eyes of the public, and it also creates a more stable and attractive climate for investment and makes economic development possible.Read more...
Speculative investors pose a threat to the implementation of corporate governance reforms because they often disregard good corporate governance in their investment decision process. Therefore, companies in markets dominated by speculative investors have little incentive to spend valuable resources on implementing good governance. An analysis of the investment market in Russia shows that its main players are speculative foreign and Russian portfolio investors who seek to invest in seriously undervalued assets with a high potential for short-term growth. This category of investors seeks high returns through significant growth in stock price and is willing to assume big risks, including bad corporate governance. In this situation, companies have very little hope of getting any significant additional premium for any improvements in corporate governance from speculative portfolio investors. Such investors will continue to recommend improvements in corporate governance, but they will not be inclined to pay a significant premium for such improvements.Read more...
Business associations and chambers of commerce in all parts of the world share a common mission to promote, develop, and further the economic well-being of member companies by providing a collective voice in advocacy for members’ interests, as well as providing quality services to help members enhance their competitiveness and succeed in their businesses locally and abroad. However, the institutional problems of some associations damage their ability to represent their constituent members. Low membership, poor financial management, and non-acceptance by governments are all factors which limit their effectiveness. The International Chamber of Commerce, now in its eighty-fifth year, helps businesses and associations overcome these challenges and facilitate international commerce and openness.Read more...
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