Kossov: Can Corporate Governance Codes Be Effective in Emerging Markets? Insights from Turkey, India and Colombia


The purpose of this report is to present background information to participants of the OECD Russia Corporate Governance Roundtable organised for 22 – 23 October 2013 in Moscow, Russian Federation. This report addresses the issue of the effectiveness of corporate governance codes in emerging markets. For this purpose, it adopts a case study approach and looks into the fate of corporate governance codes adopted in three emerging markets: Turkey, India and Colombia. Using a common framework of analysis, the report highlights the factors which determined the success or failure of these codes within the specific systems in which they were adopted. Evidence from the three case studies is used to extract lessons from the specific challenges and policy measures relevant for the implementation of codes
within emerging markets.


Available for download here.