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Date: Sat, 25 May 2013 03:38:23 +0200

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Quote:

SSRN Author: Ronald J. Gilson
REVISION: Regulatory Dualism as a Development Strategy: Corporate Reform in Brazil, the U.S., and the EU
http://www.ssrn.com/abstract=1541226

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Text:

Countries pursuing economic development confront a fundamental obstacle. Reforms that increase the size of the overall pie are blocked by powerful interests that are threatened by the growth-inducing changes. This problem is conspicuous in efforts to create effective capital markets to support economic growth. Controlling owners and managers of established firms successfully oppose corporate governance reforms that would improve investor protection and promote capital market development. In thi

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