Private Sector & Development #30 - Corporate governance: a driver for growth

Good corporate governance guidelines were developed in the 1990s and 2000s by international institutions and governments, but primarily by companies themselves as economic stakeholders gradually realised that organisation and balanced powers, transparency and management accountability were all key factors for securing a company’s long-term future and adding value.

These principles, which were given theoretical form by the OECD, have been taken on board in all economies in developing and emerging countries alike. Indeed governance plays an essential role in economic development and sustainable business growth and, as you will discover in this issue, there is a direct correlation between good governance practices, financial performance and enhanced corporate social responsibility.