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This report sets out the shared view of 12 Eurasian countries on priorities and recommendations to improve their corporate governance and spur capital market development and economic growth. It analyses the structure, experience and prospects for Eurasian capital markets, and makes recommendations to support the development of liquid and vibrant capital markets as a key ingredient for economic growth. It underlines the critical role that corporate governance can play to underpin such growth. It reviews and notes the region’s rapid economic growth during the last decade and the need for equity capital to complement bank financing to maintain sustainable economic growth in the future.

Colombia has undergone profound change over the last ten years and has made significant progress in implementing its governance agenda with policies that aim to strengthen its institutions and promote sustainable, inclusive growth in all regions of the country. The Public Governance Review therefore offers advice to help Colombia address its governance challenges effectively and efficiently over time. It provides an assessment and recommendations on how to improve its ability to set, steer, and implement multi-year national development strategy. The Review addresses centre-of-government co-ordination, evidence-based decision-making, multi-level governance and thematic issues related to whole-of-government strategic human resource management, e-government, and public procurement. Overall, strategic agility in managing an efficient and effective public administration that delivers sound policy to citizens and business in support of the country’s security, growth and prosperity, are key to ensuring that Colombia’s government can deliver policy in a way that advances the country’s long-term development, cohesion, competitiveness and prosperity agenda.

This review focuses on advancing the performance-management vision of the Comptroller General of the Republic of Chile (Contraloría General de la Republica, CGR) with a view to enhance the relevance and positive impact of its work on accountability and decision making within the public administration. The review explores how the CGR’s audit assignments could be adjusted to enhance the institution’s impact on good public governance, and how it could further leverage knowledge gathered through existing and new audit assignments to deliver additional value to its diverse range of stakeholders.

Colombia ha experimentado un cambio profundo durante la última década y ha tenido un progreso importante al poner en marcha su agenda de gobernanza con políticas orientadas a fortalecer sus instituciones para promover la sostenibilidad y el crecimiento incluyente en todas las regiones del país. El Estudio de la OCDE sobre Gobernanza Pública proporciona asesoría para ayudar a Colombia a afrontar de manera efectiva y eficiente sus retos de gobernanza a lo largo del tiempo. Aporta análisis y recomendaciones sobre cómo mejorar su capacidad para fijar, dirigir e implementar una estrategia nacional plurianual de desarrollo. El informe atiende la coordinación del gobierno central, la toma de decisiones basadas en evidencia, la gobernanza multinivel y las cuestiones relacionadas con una gestión estratégica del recurso humano del sector público integrado, el e-gobierno, y las compras públicas. En general, una agilidad estratégica en la conducción de una administración pública eficiente y efectiva que provea una política sólida a los ciudadanos y a las empresas con el apoyo de una mayor seguridad en el país, el crecimiento y la prosperidad, son clave para que el gobierno de Colombia pueda proporcionar políticas de tal forma que impulse el desarrollo de largo plazo del país, la cohesión, y la agenda de competitividad y prosperidad.

This report provides an analysis of the impact of a range of corrupt practices on economic growth and development in four key sectors: utilities and infrastructure, extractive industries, health and education. As quantification of the impact of corruption on economic growth at a macro level remains challenging, this report presents evidence at the micro and sectoral level to capture the various consquences of this phenomenon. Prepared by the OECD as a contribution to the G20 efforts to fight corruption, this report aims at increasing the understanding of the channels by which corruption inhibits economic growth and assist countries in further integrating anticorruption in their efforts to foster inclusive, sustainable growth and development. Drawing lessons from the cross-cutting analysis, the report encourages countries to design comprehensive anti-corruption strategies for which progress could be measurable and which would be tailored to specific country circumstances and economies to achieve the best results for economic growth and value-for-money.

This report provides an overview of frameworks and experience in Latin America and internationally in dealing with the challenges associated with corporate governance of company groups. It describes their economic rationale, benefits and relevance in Latin America, and how they are defined, overseen and regulated. It also delves into some of the risks and more specific challenges involved in ensuring protection of minority shareholder rights and managing or minimising conflicts of interest within groups. It notes the rising importance of Latin American-based multinational company groups. Finally, it reviews existing international and regional guidance on corporate governance of company groups before assessing the more specific policy options and challenges in the region, and describing the conclusions reached by the Latin American Corporate Governance Roundtable and Task Force on Company Groups based on this report’s findings. Country-specific chapters provide more specific descriptions of the frameworks in place for corporate governance of company groups in Argentina, Brazil, Chile, Colombia, Mexico and Peru.

The review analyses key areas of public governance in Costa Rica and identifies opportunities to improve the performance of the state in order to ensure more effective and efficient service delivery for all citizens. It examines co-ordination at the centre of government, public policy monitoring and evaluation and the use of the budget framework for strategic planning. It also looks at human resource management, integrity policies and public procurement, and multi-level governance. The review provides recommendations to assist the government in strengthening the capacity of the public sector to support social and economic development.

The Framework is an operational tool offering guidance on actionable steps for harnessing non-renewable natural resources to build competitive, diversifi ed, and sustainable economies in a scalable manner. It presents a practical guide on how host governments, extractives industries and civil society can work together in a structured and systematic way to enable in-country shared value creation and advance the 2030 Agenda for Sustainable Development. The Framework transcends sectoral boundaries and focuses on strategies to foster coherence, sequencing, and effective co-ordination for integrated policymaking, and suggests monitoring and evaluation mechanisms to assess progress and impact over time.
The actionable steps are addressed to governments, industry, and civil society clearly articulating their respective roles for improved collaboration, mutual respect and accountability.

The Review of Corporate Governance in Latvia was prepared as part of the process of Latvia’s accession to OECD Membership. The report describes the corporate governance setting for both listed companies and the state-owned sector (SOEs). The Review then examines the legal and regulatory framework and company practices to assess the degree to which the recommendations of the G20/OECD Principles of Corporate Governance and the OECD Guidelines on Corporate Governance of State-Owned Enterprises have been implemented. The report finds that Latvia's framework for the corporate governance of listed companies is largely consistent with the Principles. However, the report recommends a series of measures to further strengthen the corporate governance framework, which could help to deepen its currently small capital market and attract investment. For SOEs, the report recognises considerable reforms undertaken during the accession review process to establish an ownership co-ordination unit and to begin re-establishing boards of directors (which had been abolished in 2009). The report calls for consolidation of these reforms and also stresses the importance of clarifying SOE objectives and strategies, and enhancing disclosure.

Regulators are the “referees” of markets that provide essential services to citizens; they guarantee that all actors respect the rules and work to achieve the best outcomes. This means that their behaviour must be objective, impartial, consistent and free from conflict of interest – in other words, independent. Yet, regulators need to engage with a number of stakeholders, who may also seek to apply pressure and exert undue influence on regulatory outcomes. The independence of regulators is thus constantly under stress. This report provides practical advice on how to address stress points and protect economic regulators from undue influence, drawing on the experience of over 80 regulators that participate in the OECD Network of Economic Regulators (NER). It presents a practical checklist to support behavioural and organisational change, and helps other stakeholders better understand and appreciate the role of regulators and how to interact with them.

La contratación pública es un elemento crítico de una buena gobernanza y los países implementan diversas herramientas y estrategias para aumentar su eficiencia y rentabilidad. Los Convenios Marco, en particular, agregando la demanda pública y racionalizando los procesos de contratación están siendo cada vez más utilizados por las centrales de compras de los países miembro de la OCDE. Este informe examina el uso de los convenios marco y sus desarrollos en Chile, comparados con las prácticas alrededor de los países miembro de la OCDE.
La implementación de convenios marco en Chile ha proporcionado oportunidades de negocio a un número creciente de proveedores y una amplia variedad de bienes y servicios a entidades públicas. Sin embargo, el constante aumento del número de proveedores y de las actividades de gestión de los contratos ahora cuestionan la sostenibilidad y eficiencia del sistema. En este estudio se analizan las diferentes opciones de política que ChileCompra podría considerar al sugerir formas para racionalizar los procesos, mejorar la eficacia del sistema e incrementar la eficiencia, al mismo tiempo que promueve la inclusión.
 

This review of Corporate Governance in Colombia was prepared as part of the process of Colombia's accession to OECD Membership. The report describes the corporate governance setting for both listed companies and the state-owned sector (SOEs). The review then examines the legal and regulatory framework and company practices to assess the degree to which the recommendations of the G20/OECD Principles of Corporate Governance and the OECD Guidelines on Corporate Governance of State-Owned Enterprises have been implemented. The review finds that Colombia's framework for the corporate governance of listed companies is largely consistent with the Principles, although some companies have been reluctant to implement some of the good practices recommended in Colombia's national corporate governance code. For SOEs, the report recognises substantial reforms undertaken during the review process to adopt an ambitious national ownership policy. Reforms have included establishing an ownership co-ordination unit and more transparent reporting on SOE performance, and removing ministers from SOE boards and establishing more transparent board nomination processes aimed at enhancing the qualifications of board members. The report seeks continuing efforts to consolidate these reforms and to implement plans announced in the national ownership policy.

Este informe describe un cambio de paradigma en las políticas de seguridad vial, liderado por un pequeño grupo de países, conforme a los principios del Sistema Seguro. Un Sistema Seguro está basado en la premisa de que los accidentes de tránsito son predecibles y prevenibles, y de que es posible transitar hacia cero muertes y lesiones graves por accidentes de tránsito. Ello, sin embargo, requiere reconsiderar de manera fundamental la gobernanza y la implementación de las políticas de seguridad vial.
 
En el afán de contener la epidemia de muertes por accidentes de tránsito, las Naciones Unidas han establecido la meta de reducir a la mitad el número de víctimas fatales para 2020. Cada año, 1,25 millones de personas pierden la vida en accidentes de tránsito y hasta 50 millones sufren lesiones graves. Los accidentes de tránsito matan a más personas que la malaria o la tuberculosis, y se encuentran entre las diez principales causas de muerte. Su costo económico estimado oscila entre el 2 y 5% del PIB en muchos países. Escrito por un grupo internacional de expertos en materia de seguridad vial, este informe ofrece mejores prácticas y un punto de partida para que los líderes gubernamentales, administraciones públicas, el sector privado y la academia tracen sus propios caminos hacia un Sistema Seguro.

O relatório tem como principal foco a cobrança pelo uso de recursos hídricos no Brasil. Avalia o seu estado atual e os desafios de implementação. Proporciona orientações para o avanço da implementação da cobrança no País como instrumento econômico e financeiro de gestão, visando prevenir e responder a situações de conflito pelo uso da água e de poluição, contribuindo para a segurança hídrica, e, consequentemente, favorecendo o crescimento econômico e o bem-estar social. O relatório evidencia a necessidade de informações, a aproximação da cobrança ao planejamento da bacia e a aplicação eficiente dos recursos arrecadados. O relatório inclui uma avaliação de três estudos de caso: o Estado do Rio de Janeiro, a Bacia do rio Paraíba do Sul e a Bacia do rio Piancó-Piranhas-Açu. Conclui com um plano de ação com etapas de implementação prática e delimitação de funções: quem pode fazer o quê para implementar as recomendações a curto, médio e longo prazo.

Los reguladores son los “árbitros” de los mercados que proporcionan servicios esenciales a los ciudadanos; su rol es garantizar que los actores del mercado cumplan con las reglas y trabajen para lograr los mejores resultados. Por ello, el comportamiento de los reguladores debe ser objetivo, imparcial, coherente y libre de conflictos de intereses, es decir, independiente. Al mismo tiempo, los reguladores deben interactuar con una serie de actores interesados, que pueden tratar de ejercer presión e influencias indebidas sobre las actividades regulatorias y sus resultados. La independencia de los reguladores se ve así constantemente bajo presión. Este informe proporciona consejos prácticos sobre cómo abordar estos puntos críticos y proteger a los reguladores económicos de la influencia indebida, aprovechando la experiencia de los reguladores que participan en la Red de Reguladores Económicos de la OCDE (Network of Economic Regulators, NER). El informe presenta una lista de verificación práctica para apoyar el cambio conductual y organizacional, y ayuda a otros interesados a comprender y apreciar mejor el papel que juegan los reguladores en el mercado y saber cómo interactuar con ellos.

O relatório tem como principal foco a cobrança pelo uso de recursos hídricos no Brasil. Avalia o seu estado atual e os desafios de implementação. Proporciona orientações para o avanço da implementação da cobrança no País como instrumento econômico e financeiro de gestão, visando prevenir e responder a situações de conflito pelo uso da água e de poluição, contribuindo para a segurança hídrica, e, consequentemente, favorecendo o crescimento econômico e o bem-estar social. O relatório evidencia a necessidade de informações, a aproximação da cobrança ao planejamento da bacia e a aplicação eficiente dos recursos arrecadados. O relatório inclui uma avaliação de três estudos de caso: o Estado do Rio de Janeiro, a Bacia do rio Paraíba do Sul e a Bacia do rio Piancó-Piranhas-Açu. Conclui com um plano de ação com etapas de implementação prática e delimitação de funções: quem pode fazer o quê para implementar as recomendações a curto, médio e longo prazo.