Feature Service Article

East Asia's Financial Meltdown: Why Corporate Governance Matters

Dr. Jesus P. Estanislao, The lack of corporate governance standards to ensure that enterprises are run in the interest of their owners is a growing issue worldwide. For developing and transition economies, a weak corporate governance culture and regulatory framework acquire added significance given the prevalence of nebulous legal regulations and limited enforcement capabilities in those nations. Read more…

Corporate Governance: Transparency Between Government and Business

John D. Sullivan, Few topics are more central to the international business and development agendas than that of corporate governance. A series of events over the last two decades have placed corporate governance issues as a top concern for both the international business community and the international financial institutions. Spectacular business failures such as the infamous BCCI scandal, the United States’ savings and loan crisis, and the gap between executive compensation and corporate performance drove the demand for change in developed countries. Read more…

Trade, Development and Social Progress

Charlene Barshefsky, The Center for International Private Enterprise held its second international conference for women entrepreneurs in June 2000. The conference, attended by 149 women entrepreneurs from 56 countries, focused on how business women can take advantage of the growing opportunities opened up by international trade and globalization. Ambassador Charlene Barshefsky was the conference keynote speaker. Read more…

Hurdling Old Obstacles to Development

Grady Means, One great hope for equitable globalization is that the revolutions in telecommunications and electronic commerce that define the so-called economy may subvert conventional wisdom about the necessary stages of national economic development. The economist Albert Hirschmann and others have propounded a set of necessary stages of growth and consolidation that all emerging economies must pass through in order to reach economic maturity. Read more…

Globalization: Challenges for Indonesia

Hadi Soesastro, Indonesia has gone a long way in liberalizing its economy, but the task is far from complete. Globalization has given the government a strong justification for undertaking market- oriented reforms that can help maintain high and sustainable rates of exports necessary for strong economic growth. Read more…

The Business Model of the New Economy

Charles Oman, Globalization and the advent of new technologies have dramatically changed the way business, government and society are organized. A key driving force of these changes is a new business model. In an interview with Economic Reform Today, Charles Oman of the Development Center of the Organization for Economic Cooperation and Development (OECD) discusses the features of this new business approach and the implications for developing and developed countries of adopting this model in the context of today’s new economy. Read more…

Surviving the Competition in Central America

Forrest Colburn, Fernando Sánchez, Many Central American businessmen have had to develop innovative strategies to become competitive in the international marketplace as a means of fighting the new—and sometime ferocious—competition resulting from the region’s opening to the world economy. Each business is different and requires individually tailored strategies. However, the strategy responses developed in response to the increasing competition in Central American markets are similar. Read more…

The Emerging Democracies Forum: Sana'a Declaration

With the rapid increase of globalization, the success or failure of a country’s transition to a stable democracy and an open economic system takes on greater significance. Nevertheless, many countries have been struggling to make reforms with little or no support from the international community. What the leaders of these countries require is a chance to engage in an open dialogue with each other and with the international community about their countries’ experiences, challenges and needs. Read more…

Globalization and the Opening of Mexico

Ernesto Zedillo, The landmark election of a new government this July demonstrates how far Mexico has come in its political and economic reform efforts. In recent speeches given at the US Chamber of Commerce and at the Center for International Private Enterprise, President Ernesto Zedillo and Finance Minister José Angel Gurría underscore two important points. First is the importance of globalization and free trade to the strength of Mexico’s economy. Read more…

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