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20-May-2005
Charles Oman and Daniel Blume
Article published in the E-journal USA 2/2005.
Developing countries face the challenge of transforming political and economic governance arrangements from relationship-based systems into rules-based systems. Many must enhance their ability to address corporate insiders' abusive use of schemes to expropriate or divert resources from other stakeholders. With enforcement at the heart of the challenge, the appropriate balance between regulatory and voluntary initiatives remains an open question.
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