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Advanced Economies and Emerging Markets by Rajabahadur V. Arcot, Harry Xia, Carlos Frota, José Alves, Marcus Goncalves

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CHAPTER 14

FCPA

Dealing with Corruption and Crime

Overview

For the last 20 years, we have witnessed rapid development in the effort to combat corruption under international law, as we now live in a world where, according to Transparency International,1 and as illustrated in Figure 14.1, more than one in four people report having paid a bribe. International criminals and dishonest businessmen don’t hesitate to make use of loose regulatory systems put in place by politicians in certain “safe haven” countries around the world to attract capital.

Currently two regional anti-corruption conventions are in force. The first convention was negotiated and adopted by the members of the Organization of American States (OAS),2 while the second was adopted ...

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