Sunday, December 09, 2012

Is Corruption Getting Worse?


Is Corruption Getting Worse?


...."The recent G20 round resulted in a strong set of recommendations to strengthen the fight against corruption. Through the B20 process, business leaders articulated recommendations to G20 governments across a range of areas including the development of collective action and sectoral initiatives, model codes of conduct to SMEs, good practices to incentivize self-reporting and common principles on enforcement of bribery legislation. Together, these recommendations can spur tangible efforts under a framework of support from countries among and beyond the G20, becoming the basis for a model legislative framework."......"The growing number of prosecutions and resulting fines as a result of the US Foreign Corrupt Practices Act and more recent UK Bribery Laws are setting a new bar for enforcement. Greater transparency is no longer an option, but an imperative to create sustainable competitiveness environments that serve the public and foster an ethical and competitive marketplace."

Sourcehttp://www.huffingtonpost.com/robert-greenhill/is-corruption-getting-wor_b_2257016.html

Comment: I think that nations aspiring to have attractive business environments for foreign investment  must fight corruption in all its forms. Failure to fight corruption has disastrous and catastrophic socio-economic   and political negative consequences that will take long time to correct. 

Nations can no longer avoids fighting corruption. The 1980s and 1990s eras are by far different from our current era. 

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