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Corporate Governance

The Initiative for Policy Dialogue
Corporate Governance Task Force Meeting
September 25, 2003
Columbia University
New York, NY
Notes taken by Tomasz Michalski.
Bolton: What is corporate governance?
This is what I picked up from the NYT on Monday. It's not very encouraging for us. (shows slide) Here's our attempt to organize a few thoughts. What are the key issues for corporate governance in developing countries? We thought we'd take a mainstream approach. This is a very widespread view in the economics profession, a very simple textbook view…. Income per capita is a function of hours worked and hourly productivity… and the view is, well, what explains higher per capita income in the west, which is about $100 per hour, the difference between the US and a developing country, which is about $2, is that the US has a bigger stock of capital…. You make those observations and you conclude from there that the main problem of development is really a problem of transferring capital......


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Approximate Word Count: 8935
Approximate Pages: 36 (250 words per double-spaced page)

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