Corruption and the Global Economy
Kimberly Ann Elliott, Institute for International Economics (U.S.)
Institute for International Economics, 1 gen 1997 - 244 pagine
The recently-adopted OECD convention outlawing bribery of foreign public officials is welcome evidence of how much progress has been made in the battle against corruption. The financial crisis in East Asia is an indication of how much remains to be done. Corruption is by no means a new issue but it has only recently emerged as a global issue. With the end of the Cold War, the pace and breadth of the trends toward democratization and international economic integration accelerated and expanded globally. Yet corruption could slow or even reverse these trends, potentially threatening economic development and political stability in some countries.
As the global implications of corruption have grown, so has the impetus for international action to combat it. In addition to efforts in the OECD, the Organization of American States, the World Trade Organization, and the United Nations General Assembly, the World Bank and the International Monetary Fund have both begun to emphasize corruption as an impediment to economic development.
This book includes a chapter by the Chairman of the OECD Working Group on Bribery discussing the evolution of the OECD convention and what is needed to make it effective. Other chapters address the causes and consequences of corruption, including the impact on investment and growth and the role of multinational corporations in discouraging bribery. The final chapter summarizes and also discusses some of the other anticorruption initiatives that either have been or should be adopted by governments, multilateral development banks, and other international organizations. Corruption and the Global Economy has been translated into Arabic, Chinese, Indonesian, andSpanish by various publishers.
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The FCPA provides for three exceptions. The most important is for facilitating or
expediting payments to lower-level officials (often called grease payments) to
secure the performance of routine government actions. Exceptions are also made
Although a number of American executives have complained about the FCPA,
there have also been business voices on the other side of the issue. For example
, former Texaco CEO James W. Kinnear has argued that the FCPA actually ...
Some firms have used the FCPA as a shield to protect themselves from extortion
by corrupt foreign officials. George David, president and CEO of United
Technologies Corporation, indicated at a meeting on ethics in 1993 that following
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