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Curbing corruption? The efficacy of the Foreign Corrupt Practices Act
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Krever, Tor (2007) Curbing corruption? The efficacy of the Foreign Corrupt Practices Act. North Carolina Journal of International Law and Commercial Regulation, 33 (1). pp. 83-103. ISSN 0743-1759 .
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Official URL: https://www.law.unc.edu/journals/ncilj/issues/volu...
Abstract
Corruption of public officials, in particular bribery, has long
been recognized as a potentially serious problem in every polity.
Large foreign corporations, based in developed jurisdictions, are
identified as common culprits. The first legislation in the world to
recognize and seek to curb the contribution of domestically based
corporations to foreign corruption was the U.S. Foreign Corrupt
Practices Act of 1977. The Act criminalizes the payment of bribes
to foreign officials for the purpose of obtaining or retaining
business. I analyze the efficacy of the Act, and argue that it has
had only limited success in curbing foreign bribery. This article
contributes to the existing literature by considering what impact
recent domestic and international developments will have on the
Act’s likely future effectiveness. Specifically, it suggests that the
internationalization of anti-corruption efforts and recent increased
and expanded domestic enforcement reduce the potential costs to
business competitiveness and add new momentum to the Act’s
effectiveness. The ultimate impact of these developments will
depend on the ongoing commitment of all parties to curb supplyside
corruption.
Item Type: | Journal Article | ||||||
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Subjects: | K Law [Moys] > KG Common Law, America | ||||||
Divisions: | Faculty of Social Sciences > School of Law | ||||||
Journal or Publication Title: | North Carolina Journal of International Law and Commercial Regulation | ||||||
Publisher: | University of North Carolina, School of Law | ||||||
ISSN: | 0743-1759 | ||||||
Official Date: | 2007 | ||||||
Dates: |
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Volume: | 33 | ||||||
Number: | 1 | ||||||
Page Range: | pp. 83-103 | ||||||
Status: | Not Peer Reviewed | ||||||
Publication Status: | Published |
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