Feature Service Articles
Latest Feature Service Article
Article at a glance
- The Women’s Chamber of Industry and Commerce in Sri Lanka (WCIC), established in 1985, is the oldest women’s chamber of commerce in Sri Lanka and the first such organization in the world.
- The impetus for the establishment of WCIC came from a small group of highly educated and successful women entrepreneurs and professionals who came together to form an organization to empower women in Sri Lanka.
- Since its creation, the WCIC has been actively involved in defending the rights of women-owned businesses, advocating policy reforms that foster entrepreneurship, and representing the voice of small and medium-sized enterprises.
Effecting Corporate Governance Reforms in Asia and the Pacific: The ADFIAP Corporate Governance Rating System
The Asian financial crisis of 1997 not only revealed the need for corporate governance reform in the region’s business community, it also demonstrated the need for reform within national development finance institutions (DFIs). Recognizing the governance challenges in the region and the role that DFIs can play in addressing these challenges, the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) initiated a comprehensive program to improve corporate governance mechanisms within its member-banks and other financial institutions.
The centerpiece of ADFIAP’s program is an assessment and monitoring instrument called the ADFIAP Corporate Governance Rating System (ACGRS). Consistent with other existing international governance rating methods, the rating system monitors the areas for governance reforms: Shareholder Rights, Commitment to Corporate Governance Principles, Board Governance, Disclosure & Transparency, and Auditing. By periodically tracking changes in governance policies and practices, the ACGRS evaluates the overall state and quality of governance in financial institutions.Read more...
Given financial scandals and the resulting new mandates on business, firms find themselves pressed to develop strong codes of ethics to guide the behavior of board members, managers, and employees. Although the concern with ethics has always been a part of doing business, business leaders today are beginning to think about ethics as a set of principles and guides of behavior rather than a set of rigid rules. In this sense, business ethics is not only an attempt to set a standard by which all of the employees of a firm can know what is expected, but it is also an attempt to encourage employees, managers, and board members to think about and make decisions through the prism of a shared set of values.
Future debates will center on the relative roles of the triangle of business, government, and NGOs in establishing these standards, as they find a way to meet high ethical standards and, at the same time, ensure that the reputational and collateral risks assumed by corporations do not inhibit the further development of the emerging markets.
Association Management Companies (AMCs) have been in business for a long time. While there were only about 40 AMCs in the U.S. in the 1970s, the number has increased to an estimated 525 in the U.S. today and another 20- 25 in Europe. More importantly, an unknown number of AMCs are based throughout the rest of the world. The basic function of an AMC is to serve as the headquarters for two or more associations. In developing countries, AMCs can bring the history and knowledge of the U.S. association management experience to entrepreneurs who are willing to create a business that provides the resources and expertise to service professional organizations in their countries.Read more...
It has been almost 20 years since the Philippines overthrew a dictatorship and reestablished democracy. The first few years of that transition were understandably painful. But after a promising first decade, the country has been lurching from one crisis to another. Arguably, the reasons for the seemingly unending crisis have been largely homegrown – they revolve around political will. In other words, they have been mainly about public governance at the national level.
Recognizing the problems democracy in the Philippines was facing, the Institute for Solidarity in Asia (ISA) designed and implemented a program that brings together public officials and civil society groups to improve governance mechanisms on the local level. City mayors participating in the program work with civil society groups to identify priorities, design solutions, and implement concrete programs to improve the economic and social standing of their cities. In the process, they also improve political institutions by strengthening participatory mechanisms. The program has been a success and continues to expand into an increasing number of cities throughout the country.Read more...
Governance has become a buzzword in the development community, yet many continue to lack a clear understanding of the principle. In its essence, governance is an all-encompassing system that includes not only economic management, administrative procedures, and political factors, but is also subject to the influence of cultural and even religious factors.
Research and anecdotal evidence reveal that the Middle East and North Africa (MENA) region is on the weak side with regard to institutional and regulatory frameworks and good governance practices. This clearly has had a negative impact on the region’s ability to better mobilize available resources and solidify sustainable development, an issue of crucial importance in light of the demographic pressures and the need to create employment opportunities for the millions of entrants to the labor market every year. The institutional and regulatory frameworks in the region are generally polarized between excessive regulation and red tape, on one side, and vague and inadequate rules and regulations on the other. The consequence of this is particularly harmful to the poor segments of the society.Read more...
- Access to Information
- Business Association Development
- Combating Corruption
- Corporate Citizenship (CSR)
- Corporate Governance
- Democratic Governance
- Informal Sector & Property Rights
- Legal & Regulatory Reform
- Middle East & North Africa
- Latin America & the Caribbean
- South Asia
The views expressed by authors are their own and do not necessarily represent the views of the Center for International Private Enterprise (CIPE). CIPE grants permission to reprint, translate, and/or publish original articles from its
The views expressed by authors are their own and do not necessarily represent the views of the Center for International Private Enterprise (CIPE). CIPE grants permission to reprint, translate, and/or publish original articles from itsEconomic Reform Feature Service provided that (1) proper attribution is given to the original author and to CIPE and (2) CIPE is notified where the article is placed and a copy is provided to CIPE’s Washington office.
Call for Items
CIPE welcomes articles submitted by readers. Most articles run between 3-7 pages (1000-3000 words), but all submissions relevant to CIPE's mission of building accountable, democratic institutions through market-oriented reform will be considered based on merit. Economic Reform Feature Service articles are primarily geared toward an international, non-academic community of businesspeople, economic reformers, and policy-makers. Specific policy recommendations and articles based on direct experience are encouraged. In addition to articles, we are willing to adapt suitable lectures, speeches, research notes, and academic papers.
Articles should be sent to: email@example.com.