Transparency: foundation for proper economy
Regional, Analysis, 5/17/2003

The foundation of a sound economy must be built on certain principles that would govern certain operations. One of the most important of these principles is transparency.

In an economy there are public, and private companies. Public companies, i.e. companies held by the public through publicly traded stock, must be governed by certain standards that would ensure optimum development for an economy. Transparency, is one of the most important of these principles.

Transparency in business, would imply certain standards of information disclosure would be met. These measure will range from information disclosure, and ensuring that the information is of highest caliber possible.

Therefore, countries seeking to optimize their economic development should direct the needed resources to this effect. The more effective these standards are, the better it will be for the economy in that economic actors, investors, will be able to put into play the forces that would properly reward good business, and ensure that needed resources are attracted and are allocated properly.

As in all principles, the effectiveness in translating this principles into working laws lies in implementation. Those who are able to craft good laws and rules will be most able to exploit the power of this principal to their benefit.

By,
Jamil Kazoun

Previous Stories:
  Transparency: foundation for proper government   (5/17/2003)
  Transparency: a most powerful instrument for development   (5/17/2003)
  The practice of lending to developing and underdeveloped governments should end   (5/25/2002)
  The foundation of good development: rule of law and transparancy   (9/16/1999)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search