In the 21st century, stability and prosperity will depend on the strengthening of capital markets and the creation of strong corporate governance systems. While it is encouraging to see emerging economies rebound from the traumatic financial crises of the last several years, it is important that the momentum for reform of corporate governance regimes be maintained. The OECD can work alongside governments, stock exchanges and other private parties around the world to assist them in their own efforts to strengthen their economies. The Principles of Corporate Governance can help in the process too. They might not be able to prevent shocks from occurring completely, but if adhered to, they could prevent a shock from becoming a crisis.
Growth is still generally good and fears of a recession are exaggerated.
A mild short-term dip in the U.S. is likely, but other economies, particularly in Europe, will perform well. A recession, if it comes, will be severe and global. Current results Previous results All rights reserved.