The Global Financial Crisis and the Implications for Corporate Governance Regulation

Publisher:
Chartered Secretaries Australia
Publication Type:
Journal Article
Citation:
Keeping Good Companies, 2009, 61 (2), pp. 70 - 75
Issue Date:
2009-01
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The prolonged systemic crisis In Internatlonal financial markets which commenced In mld 2007 and continues to develop, is also a crisis in corporate governance and regulation. The most severe financial disaster since the Great Depression has exposed the dangers of unregulated financial markets and nominal corporate governance. This financial crisis Is larger in scale than any crisis since the 1930s InvolVing losses estimated by the IMF In October 2008 as potentlalIy US$I,400 billion, eclipsing earlier crises in Asia, Japan and the US (see Figure 1).
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