The quality of governance and institutions is important in economic growth. Although there is no need to transplant western rules and institutions into Asia, there is a need to overcome vested interests and the advantages held by large conglomerates. This can be achieved by establishing legal, social, and political institutions for the implementation of an effective democratic political regime with deregulated open markets.
Keywords: corruption; governance; malfeasance; regulatory framework; public sector; democratization
Chapter. 2914 words. Illustrated.
Subjects: Business and Management
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