For example, see Krugman, P. (1999), “Balance Sheets, the Transfer Problem, and Financial Crises”, International Tax and Public Finance, 6, pp. 459-72; Chang, R. and A. Velasco (2001), “A Model of Financial Crises in Emerging Markets”, Quarterly Journal of Economics, 116, pp.
To the board of directors of the Indian Ocean International Bank and to the boards of directors of all other banks operating in Mauritius, I would like to say that adherence to good corporate governance principles is indisputably the key to the maintenance of the sound and solid financial standing of financial institutions.