Similarly, domestically it behooves us to upgrade our corporate governance practices at all institutions to strengthen our pace of economic recovery and make the environment more challenging and productive for corporates and private institutions.
One key lesson policy makers and regulators learned from the recent sub-prime crisis is that among many other factors, weak corporate governance practices in leading financial institutions played a crucial role in creating the asset price bubble and misallocation of financial resources. As a result, policy makers in the post-crisis period are placing more emphasis on improving market transparency and Corporate Disclosure.