Corporate Governance, Crony Capitalism and Economic Crises: Should the Us Business Model Replace the Asian Way of Doing Business?

@article{Singh2006CorporateGC,
  title={Corporate Governance, Crony Capitalism and Economic Crises: Should the Us Business Model Replace the Asian Way of Doing Business?},
  author={Ajit Singh and Ann Zammit},
  journal={Development Economics},
  year={2006}
}
This paper considers the Greenspan/Summers/IMF (GSI) argument that the Asian way of doing business was the deep cause of the Asian crisis. The IMF reform programme for the crisis-affected Asian countries suggested they should abandon the Asian business model and adopt the US corporate model. The main findings are: (a) contrary to GSI doctrine, poor corporate governance and lack of competition are not common characteristics of the Asian business model; (b) the stock market-based US business… 
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