How Multinational Investors Evade Developed Country Laws to Prevent Bribery and Corruption in the Developing World - Including the US Foreign Corrupt Practices Act - and What Can Be Done About It
Article from: TDM 5 (2007), in Corruption and Arbitration
How effective are G-8 and OECD efforts to combat bribery and corrupt payments when multinational companies bid on concessions in the developing world? Have the rich countries - and the United States, in particular - done what is necessary to restrain multinational investors from paying off daughters of Presidents and cronies of Ministers to secure favors for their activities? This paper argues that the answer is no. Multinational corporations from the US, Europe, and Japan have devised sophisticated payment mechanisms, as documented and described here, to evade home ...