Download Making Global Self-Regulation Effective in Developing by Dana L. Brown, Ngaire Woods PDF

By Dana L. Brown, Ngaire Woods

ISBN-10: 0199234639

ISBN-13: 9780199234639

ISBN-10: 1435622391

ISBN-13: 9781435622395

As businesses 'go international' they more and more use factories and amenities unfold the world over. yet who regulates their actions in remote corners of the area economic climate? in lots of sectors reminiscent of textiles and clothing, chemical compounds, and forestry, the answer's that businesses control their very own habit via codes and criteria which they agree between themselves. the new development in company self-regulation of work, environmental and monetary practices has attracted the eye of students who've unique the quantity and content material of self-regulatory efforts in numerous sectors. lacking to this point, besides the fact that, has been an research of the effectiveness and effect of self-regulation. Does self-regulation truly paintings and below what stipulations is it probably to be potent? the reply to this question is very very important for constructing international locations the place company self-regulation is frequently obvious as replacement for susceptible governance structures.The chapters during this quantity evaluation the effectiveness of self-regulation in comparison to different kinds of worldwide law. throughout sectors and states, company self-regulation works top while those people who are regulated have a voice in identifying the content material of codes and criteria and while a few mechanism of compliance exists on the point of the kingdom. regrettably, possibilities for voice and country potential for legislation are usually missing in constructing nations. Given this, the booklet indicates a few minimum kinds of executive motion and participation by way of international actors that may make worldwide company self-regulation more desirable in enhancing stipulations within the constructing global.

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Extra resources for Making Global Self-Regulation Effective in Developing Countries

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Org/compendium/what_are_standards. html, accessed April 22, 2003. 36 Do Voluntary Standards Work Among Governments? 1. Key international standards and codes Year of adoption or revision Standard-setter Standard or code and official objective Macroeconomic policy and data transparency standards 1996–7 IMF Special Data Dissemination Standard (SDDS), General Data Dissemination Standard (GDDS): The SDDS serves to guide countries that have, or that might seek, access to international capital markets in the dissemination of comprehensive, timely, accessible and reliable economic, financial and socio-demographic data to the public.

In total seventy-one specific standards. g. accounting, auditing, and corporate governance standards). 2). Along with the Corporate Governance Principles (CGP) and International Accounting Standards (IAS), 8 these constitute a central pillar of financial sector regulation and prudential supervision. The first Basle Core Principle, the ‘precondition’ for effective supervision, advocates what is by now G10 conventional wisdom: political independence for financial regulators, a clear set of responsibilities and objectives, the power to enforce compliance, legal protection for supervisors, sufficient financial resources, and so on.

22. 23. 24. 25. org Behind this general prescription lay a new ideal type of what may be called ‘regulatory neoliberalism’: the idea that independent regulatory agencies should apply stringent rules in a nondiscretionary fashion in a deregulated financial marketplace. The subtext is fairly clear: excessive state intervention of a discretionary kind, as in many East Asian countries prior to the crisis, creates problems of moral hazard and chronic regulatory failure. Hence, the adoption of Western-style standards would help to eradicate such self-regulatory failures and promote both domestic and international financial stability (Mishkin 2001).

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