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| Tekijä: | Singh, A. Zammit, A. |
| Otsikko: | Corporate governance, crony capitalism and economic crises: should the US business model replace the Asian way of "doing business"? |
| Lehti: | Corporate governance
2006 : JUL, VOL 14:4, p. 220-233 |
| Asiasana: | stock markets asia usa crises economic crisis corporate models |
| Kieli: | eng |
| Tiivistelmä: | This article assesses the Greenspan/Summers/IMF (GSI) argument that the deep cause for the Asian economic crises was the Asian way of doing business. The IMF reform programme proposes that the US corporate model should be adopted in Asia as well. The key findings are, that poor corporate governance and lack of competition are not common characteristics of the Asian business model, and that the stock market-based US model has major limitations for developing country companies, not least because of imperfect stock prises and the imperfect market for corporate control. |
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