Government And Market Failures In Emerging Market Economies
- Topics:
- Regulations
- Tags:
- Bankruptcy,
- Marketing,
- Litigation,
- Government,
- Financial Services,
- Emerging Market,
- Corporate Law,
- Corporate Governance,
- Columbia University,
- Business Operations,
- ...
- Source:
- Columbia University
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Overview: Corporate governance and bankruptcy are about ensuring that market signals are channeled into corporate decisions, and corporations do not abscond with resources entrusted them by investors. The purpose of this paper is to discuss how market and government failures influence the design of institutions supporting corporate finance in emerging market economies. Weaknesses in these institutions are an important part of the explanation for why more capital is not flowing from the capital-rich to the capital-poor economies. Even in countries that now enjoy large inflows of direct investment may find weak corporate governance and poorly functioning bankruptcy procedures to be critical if these flows were to cease for exogenous reasons.
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Format: PDF | Size: 218KB | Date: Jan 2006 | Pages: 57
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