Pursuant to Article 1 of the Convention signed in Paris on 14th December 1960,
and which came into force on 30th September 1961, the Organisation for Economic
Co-operation and Development (OECD) shall promote policies designed...
companion document, entitled Guidance on Safety Performance Indicators (2003), will be published immediately
following the 2nd edition of the Guiding Principles. The Guidance on SPI is designed to assist relevant
stakeholders to establish programmes for assessing their own performance related to the prevention of,
preparedness for, and response to chemical accidents.
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Throughout the 1950s and 1960s, New Zealand’s exports were concentrated on a few products
and on the United Kingdom market. The collapse in the price of wool and the entry of Britain
into the European Union (EU) resulted in marked product- and export-market diversiﬁ cation.
New Zealand’s export-product concentration is still somewhat higher than the OECD mean.
New Zealand’s export-market concentration, on the other hand, is slightly lower than the OECD
mean, reﬂ ecting a more diverse range of export markets.
In addition to retained earnings or proﬁ ts, ﬁ rms can access investment capital from a number of
other sources: banks; the sharemarket; private equity; the venture capital market; and informal
capital markets. Improving ﬁ nancial development in these markets can stimulate economic
growth. The Milken Institute’s Capital Access Index evaluates the ability of business to access
capital across all sources. New Zealand is ranked 15th in the OECD on this index, at the OECD
mean and below countries such as the United Kingdom, the United States, Denmark, and
While it is not the primary objective of this article to discuss differences
between national codes, a number of distinguishing characteristics nevertheless
bear mentioning. A first important variable is the scope of corporate governance
codes or recommendations. Naturally, most codes examined for this article (and
in most other member countries) address issues such as the equitable treatment
of shareholders, operation and accountability of boards and management,
transparency and disclosure, as well as minority shareholder protection.
This initiative has been presented in the framework of a number of relevant international initiatives of organisations, such as the OECD, the United Nations and the European Commission. Moreover, European Directive 2000/31/EC of 8 June 2000 (OJEC L 178 of 17 July 2000) encourages professional bodies and associations to establish codes of conduct at Community level. As a supplement to legislation, the Orgalime Principles of Conduct in electronic commerce contain provisions concerning the key items designed to increase trust in Electronic Commerce.
The regulatory function of stock exchanges was in the past mostly limited to issuing rules and clarifying
aspects of existing frameworks. The standard-setting role of stock exchanges was essentially exercised
through the issuance of listing, ongoing disclosure, maintenance and de-listing requirements. On the
enforcement side, stock exchanges have shared their regulatory function with capital market supervisory
In practice, the two defining characteristics of the codes are their topical
coverage and the specificity of the underlying recommendations. An example of
a very comprehensive instrument might be the Belgian Code on Corporate
Governance (2004). Not only does it cover the same topic areas as the Principles,
it also provides supplementary interpretations and concrete guidance for their
The relative efficiency of education and health spending is assessed by comparing
expenditure levels and associated outcomes in G7 countries and other OECD countries. This
is done using the Data Envelopment Analysis (DEA) technique, which was developed for
estimating best-practice frontiers and relative efficiency in business applications. In this case,
DEA is used to assess the relationship between spending (inputs) and outcomes (production)