Intellectual property regime and the global financial crisis: lessons from Nigeria
| Published date | 10 May 2011 |
| Pages | 183-192 |
| DOI | https://doi.org/10.1108/13685201111127821 |
| Date | 10 May 2011 |
| Author | Adebambo Adewopo |
| Subject Matter | Accounting & finance |
Intellectual property regime
and the global financial crisis:
lessons from Nigeria
Adebambo Adewopo
Nigerian Copyright Commission, Abuja, Nigeria
Abstract
Purpose – This paper aims to point out the vital role an effective regulatory regime can play in any
sector of a nation’s economy.
Design/methodology/approach – The paper uses the regulatory mandate of the Nigerian
Copyright Commission on the Nigerian copyright-based industries as an example.
Findings – The paper underscores the vital role of an effective regulatory regime in facilitating the
growth, development and crisis prevention in any sector of a nation’s economy.
Originality/value – The paper advocates an adoption of an effective regulatory regime to prevent a
reoccurrence of the global financial crisis.
Keywords Intellectualproperty, Economic conditions, Economicdepression, Regulation, Nigeria
Paper type Research paper
Introduction
The global financial crisis has turn out to be the most serious financial crisis since the
great depression of the 1930s. Its ugly manifestation is almost all embracing with severe
impact seen in credit losses, liquidity shocks, deflated property values and contraction of
the real economy in many countries particularly the USA and European countries.
A lot of factors have been fingered has being responsible for the crisis. Some have
attributed it to the dearth of regulations. While some elements of truth in this cannot be
denied, the fact that some sections of the financial system hit hardes t[1] have historically
been the most heavily regulated underscores the need for attention to be focused on
effective proactive regulatory regime than mere regulatory coverage. This paper aims at
pointing out the vital role an effective regulatory regime can play in any sector of a
nation’s economy. Using the regulatory mandate of the Nigerian Copyright Commission
(NCC) on the Nigerian copyright-based industries as an example, this paper aims at
underscoring the vital role effective regulatory regime in facilitating the growth,
development and crisis prevention in any sector of a nation’s economy. It consequently
advocates an adoption of effective regulatory regime to prevent a reoccurrence of the
global financial crisis.
Regulatory regime and effective governance
One of the important features of modern system of governance is the use of regulatory
agencies as important tool of executive functions. Regulatory agencies are usually
independent governmental commission established by legislative act and empowered to
set standards in a specific field of activity or operations, usually in the private sector of
the economy and then enforce the standards[2]. Their existence is justified by the
complexity of certain regulatory and supervisory task that requires expertise, the need
The current issue and full text archive of this journal is available at
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Intellectual
property regime
183
Journal of Money Laundering Control
Vol. 14 No. 2, 2011
pp. 183-192
qEmerald Group Publishing Limited
1368-5201
DOI 10.1108/13685201111127821
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