The OECD and the global financial organisations claim that countries transposing the OECD Principles into domestic law and regulation will experience higher financial market growth. "Changes in Corporate Governance in Kazakhstan and its impact on financial market growth: An empirical analysis (1991-2017)" finds that transposing shareholder primacy regulations to the Kazakhstani corporate governance system has not yet stimulated high foreign investment flows and financial market growth. Similarly, "Evolution of corporate governance in India and its impact on the growth of the financial market: An empirical analysis (1995-2014)" finds that change in corporate governance in the direction of shareholder primacy has had little effect on financial market growth in India. [Extracted from the article]
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