As the fallout of the financial crisis continues to devastate the real economy, the design of effective and flexible regulatory and corporate governance rules, principles and norms has become a global policy imperative.

In this context, Prof. O’Brien spoke of the need to shift from government to governance, to accountability, to responsibility, and finally to integrity, a process which requires inter-disciplinary collaboration and an application of behavioural economics. He argued that only by embedding integrity through design can the inevitable gaps in any new regulatory framework be adequately resolved.

Source: www.iiea.com

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