This series of public policy briefs focuses on the private sector and the financial crisis, assessing the policy responses, shedding light on financial reforms currently under debate, and providing insights for emerging-market policy makers.
(World Bank, Washington, DC, 2010-03)
Ard, Laura; Berg, Alexander
Principles of good governance have been
a major component of international financial standards and
are seen as essential to the stability and integrity of
financial systems. Over the past 10 years much energy and
attention have gone to improving the ability of company
boards, managers, and owners to prudently navigate rapidly
changing and volatile market conditions. So, how to explain
the events of 2007-08? Many of the recent problems can be
traced to flawed implementation of good principles and to
behavior prompted by increasingly short-term performance horizons.