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Corruption and the Global Economy


  • Kimberly Ann Elliott

    (Peterson Institute for International Economics)


The recently-adopted OECD convention outlawing bribery of foreign public officials is welcome evidence of how much progress has been made in the battle against corruption. The financial crisis in East Asia is an indication of how much remains to be done. Corruption is by no means a new issue but it has only recently emerged as a global issue. With the end of the Cold War, the pace and breadth of the trends toward democratization and international economic integration accelerated and expanded globally. Yet corruption could slow or even reverse these trends, potentially threatening economic development and political stability in some countries. * As the global implications of corruption have grown, so has the impetus for international action to combat it. In addition to efforts in the OECD, the Organization of American States, the World Trade Organization, and the United Nations General Assembly, the World Bank and the International Monetary Fund have both begun to emphasize corruption as an impediment to economic development. * This book includes a chapter by the Chairman of the OECD Working Group on Bribery discussing the evolution of the OECD convention and what is needed to make it effective. Other chapters address the causes and consequences of corruption, including the impact on investment and growth and the role of multinational corporations in discouraging bribery. The final chapter summarizes and also discusses some of the other anticorruption initiatives that either have been or should be adopted by governments, multilateral development banks, and other international organizations.

Suggested Citation

  • Kimberly Ann Elliott, 1997. "Corruption and the Global Economy," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 12.
  • Handle: RePEc:iie:ppress:12

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    References listed on IDEAS

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    Cited by:

    1. Mishra, Sudhanshu K, 2018. "A Simultaneous Equation Model of Globalization, Corruption, Democracy, Human Development and Social Progress," MPRA Paper 84213, University Library of Munich, Germany.
    2. repec:ath:journl:tome:30:v:2:y:2013:i:30:p:31-42 is not listed on IDEAS
    3. Argandoña, Antonio, 2000. "Corrupción: El punto de vista de las empresas," IESE Research Papers D/422, IESE Business School.
    4. J. David Richardson, 2000. "The WTO and market-supportive regulation: a way forward on new competition, technological and labor issues," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 115-130.
    5. repec:ath:journl:tome:34:v:2:y:2014:i:34:p:165-177 is not listed on IDEAS
    6. Seung Yoo, 2008. "Petty corruption," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 37(2), pages 267-280, November.
    7. Ariane Lambert-Mogiliansky & Mukul Majumdar & Roy Radner, 2008. "Petty corruption: A game-theoretic approach," International Journal of Economic Theory, The International Society for Economic Theory, vol. 4(2), pages 273-297.
    8. Rajeev K. Goel & Michael A. Nelson, 2005. "Economic Freedom Versus Political Freedom: Cross-Country Influences On Corruption ," Australian Economic Papers, Wiley Blackwell, vol. 44(2), pages 121-133, June.
    9. Adrian-Ducu, MATEI & Cristiana, MATEI, 2014. "Deepening Social Inequalities And Slowing Down Economic Growth Due To Corruption, Underground Economy And Tax Evasion," Management Strategies Journal, Constantin Brancoveanu University, vol. 26(4), pages 664-671.
    10. Guillaume R. Fréchette, 2006. "Panel Data Analysis of the Time-Varying Determinants of Corruption," CIRANO Working Papers 2006s-28, CIRANO.
    11. repec:iek:wpaper:1406 is not listed on IDEAS
    12. Jeffrey B. Nugent, 2014. "Detecting Corruption And Evaluating Programs To Control It: Some Lessons For Mena," World Scientific Book Chapters,in: UNDERSTANDING THE POLITICAL ECONOMY OF THE ARAB UPRISINGS, chapter 7, pages 131-163 World Scientific Publishing Co. Pte. Ltd..
    13. Majumdar, Mukul & Yoo, Seung Han, 2011. "Strategic Analysis of Influence Peddling," Working Papers 11-04, Cornell University, Center for Analytic Economics.
    14. Kimberly Ann. Elliott & Debayani Kar & J. David Richardson, 2004. "Assessing Globalization's Critics: "Talkers Are No Good Doers?"," NBER Chapters,in: Challenges to Globalization: Analyzing the Economics, pages 17-62 National Bureau of Economic Research, Inc.
    15. Rafik I. Beekun & Nihat Alayoğlu & Ali Osman Öztürk & Mehmet Babacan & James W. Westerman, 2017. "Gauging the Ethicality of Students in Turkish Institutions of Higher Education," Journal of Business Ethics, Springer, vol. 142(1), pages 185-197, April.
    16. Kyle Peyton & Ariel R. Belasen, 2012. "Corruption in Emerging and Developing Economies: Evidence from a Pooled Cross-Section," Emerging Markets Finance and Trade, M.E. Sharpe, Inc., vol. 48(2), pages 29-43, March.
    17. Argandoña, Antonio, 2000. "Sobre la corrupción," IESE Research Papers D/418, IESE Business School.
    18. Raghbendra Jha & Hari K Nagarajan & Anirudh Tagat, 2017. "Bribery, democracy and their impact on governance and welfare: The case of rural India," ASARC Working Papers 2017-03, The Australian National University, Australia South Asia Research Centre.
    19. Bryane Michael (Linacre College), "undated". "Drafting Implementing Regulations for International Anti-Corruption Conventions," QEH Working Papers qehwps150, Queen Elizabeth House, University of Oxford.
    20. Antonio Argandoña, 2007. "The United Nations Convention Against Corruption and its Impact on International Companies," Journal of Business Ethics, Springer, vol. 74(4), pages 481-496, September.
    21. Adrian Ducu MATEI, 2013. "Will The Present Economic-Financial Crisis Cause The Expansion Of The Underground Economy?," Review of General Management, Spiru Haret University, Faculty of Management Brasov, vol. 17(1), pages 128-137, MAI.
    22. Iankova, Elena & Katz, Jan, 2003. "Strategies for political risk mediation by international firms in transition economies: the case of Bulgaria," Journal of World Business, Elsevier, vol. 38(3), pages 182-203, August.
    23. Christie, Andrew, 2009. "Special and Differential Treatment in the GATT: A Pyrrhic Victory for Developing Countries," Estey Centre Journal of International Law and Trade Policy, Estey Centre for Law and Economics in International Trade, vol. 10(2).

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