Why has the OECD, along with other members of the international community, mobilised to fight corruption? The answer is simple: corruption respects no borders, knows no economic distinctions and infects all forms of government. In the long run, no county can afford the social, political or economic costs that corruption entails.
Not so long ago, bribing public officials in foreign countries to obtain business deals was, if not an acceptable, at least a tolerated business practice in many OECD countries. Today, corruption has moved to the top of global political agenda as its dramatic impact on economic development and its corrosive effect on political stability and democratic political institutions has become increasingly obvious.
In the new millennium, the OECD and associated governments, which account for over 75% of trade and investments worldwide, will play by stricter rulers, The Convention on Combating Bribery of Foreign Public Officials in International Business Transactions will outlaw the practice of bribing foreign officials, making competition for international business much more fair and open.
Bribery in commercial transactions is only part of the problem. A whole arsenal of legal instruments to combat corruption has now been developed to improve ethical standard in the public sector, to end tax deductibility for bribes, to curtail money laundering, and to clean ip public procurement practices. The private sector and civil society will continue to play a critical role in making these new rules a reality.
This book provides the key elements needed to build and preserve corruption-free institutions, systems, and private enterprises.
