(Foreword) This updated Focus seeks to explain the links between economic development and corporate governance, based on experiences in many countries, sectors, and business organizations (from state-owned enterprises to publicly listed companies). It draws on new evidence that has become available since the Focus 1: Corporate Governance and Development was published in 2003.
The authors, Stijn Claessens and Burcin Yurtoglu, have sifted through scores of academic studies to determine what matters most in how corporate governance can support economic development and what is needed to get the job done in implementing good practices. As the authors explain at the outset, the market-based investment process is even more important today to most economies than when this study was first published in 2003.
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