Corollaries of corruption and bribery on international business

Purpose - The purpose of this paper is threefold: it examines and analyzes the extent to which corruption and bribery have become the quintessential problem of international business and economies; analyzes the effect of corruption and bribery on international business at the macro level; and recommends specific action-oriented sustainable initiatives to help mitigate corruption and bribery. Design/methodology/approach - This paper has conducted an in-depth global analysis of extant literature on corruption and bribery affecting international business. Findings - This paper provides a succinct analysis of corruption and bribery relevant and critical to international business. It shows that corruption undermines democracy and the rule of law; leads to violations of human rights; distorts markets; erodes the quality of life; and allows organized crime, terrorism and other threats to human security. Research limitations/implications - This paper realizes that not all corruption and bribery have the same degree of impact on all countries and economies. This issue is not discussed, as it is outside the scope of the paper. Practical implications - This paper serves as a good reference for international business community, anti-corruption agencies, law enforcement and for pedagogy in the classroom. Originality/value - Provides a concise macro level of pertinent corruption and bribery issues useful as a learning material for international business, trade and development and corporate social responsibility.