Description
Book Synopsis'To effectively combat corruption globally, the collection and dissemination of knowledge is crucial. This excellent book takes us a step forward in our collective efforts to better understand the causes and effects of corruption from an international perspective. Through its detailed analysis of the economic impact of corruption in a diverse range of countries, this publication provides us with a new resource to draw on in our future efforts to reduce corruption together worldwide.'- Dimitri Vlassis, United Nations Office on Drugs and Crime, Vienna, Austria
Corruption presents many legal and regulatory challenges, but these challenges cannot be met by the law in isolation. This book presents economic analysis of crime as an essential tool for shaping an effective legal apparatus.
The authors contend that in order to assess whether and how to regulate corruption, it is necessary to start with a thorough inquiry into the causes, institutional and social effects, and most of all, actual and potential economic and financial consequences of crimes. This, they argue, should inform and help shape a balanced legal and regulatory approach to corruption.
Economic analysis is also the key to measuring the efficacy of current anti-corruption instruments, and in the light of this the book finds many existing legal counter-measures lacking. On the other hand, its assessment of new international instruments and their domestic implementation and enforcement, and the monitoring mechanisms embedded by certain international organizations, demonstrates a clear relationship between realistic economic analysis and effective solutions to the economic and legal problems posed by corruption.
Offering a comprehensive legal study of corruption and grounded in economic analysis, this detailed book will appeal to scholars and researchers in crime and corruption, international public organizations and anti-corruption agencies.
Contents:
Foreword
Preface
Introduction
Part I: Economics, Finance, and Governance
Section 1: Economics
1. Opening Remarks: Corruption and Economic Analysis
2. Firms, Markets, and Corruption
3. Corruption and Macroeconomic Performance
Section 2: Finance
4. Financial Markets: Bonds, Stocks, and Politically-connected Firms
5. The Impact of Corruption in Shares Returns of Euro-area Listed Industrial Firms
6. Operational Efficiency, Corruption, and Political Stability in Microfinance
Section 3: Governance
7. Governance, Corruption, and Effects on Institutions
Part II: Birth and Evolution of an Anti-corruption Global Legal Standard Trans-national Corruption and Effective Regulation
Section 4: Cases of Trans-national Corruption: Description and Legal Issues
8. How Corruption Affects the Economic and Institutional Textures of States: three case examples
Section 5: Horizontal Assessment of the International Hard Law Instruments
9. The US FCPA as the Archetype of the Supra-national Anti-bribery Regulation
10. The Emergence of an International Framework: Regional, International, and Multilateral Treaties and Initiatives 1
1. Criminalization of the Offence
12. Sanctions and Corporate Liability
13. Jurisdictional Issues
14. Mutual Legal Assistance and Extradition
15. Preventive and Non-criminal Related Measures
16. Follow up Procedures as Specific Cases of International Supervision
17. Asset Recovery
Afterword
Bibliography
Index
Trade Review'The volume offers a fascinating interdisciplinary analysis that examines the economics of corruption and assesses the strengths and weaknesses of the international regulatory framework. It mainly focuses on one particular aspect of corruption, the dynamics of bribery between the private and public sector, but it also deals with the private-to-private (commercial) corruption. . . . this book will be valuable for economists, lawyers, and policymakers since it allows them to grasp the nature of corruption as well as the strengths of the available international legal instruments and the gaps that should be addressed to improve those instruments to make them more effective.' --
Journal of International Economic Law'Overall, this book constitutes a fundamental research tool for all lawyers or political scientists interested in exploring the roots of corruption and in understanding the deep institutional and regulatory problems faced by policymakers in eliminating it. I am glad to have read it.'
--Dr Federico Lupo-Pasini, Global Trade and Customs Journal
'This book positively stands out from the mass of literature on corruption because of its in-depth treatment of themes which are relevant for business. It contains very detailed analysis and it is soundly rooted in extensive scientific research. The bibliography alone is 64 pages. Even those who have been researching corruption for many years will find in this book new ideas and new approaches.'
--Olaf Meyer, Crime Law and Social Change
Table of ContentsContents: Foreword Preface Introduction Part I: Economics, Finance, and Governance Section 1: Economics 1. Opening Remarks: Corruption and Economic Analysis 2. Firms, Markets, and Corruption 3. Corruption and Macroeconomic Performance Section 2: Finance 4. Financial Markets: Bonds, Stocks, and Politically-connected Firms 5. The Impact of Corruption in Shares’ Returns of Euro-area Listed Industrial Firms 6. Operational Efficiency, Corruption, and Political Stability in Microfinance Section 3: Governance 7. Governance, Corruption, and Effects on Institutions Part II: Birth and Evolution of an Anti-corruption Global Legal Standard Trans-national Corruption and Effective Regulation Section 4: Cases of Trans-national Corruption: Description and Legal Issues 8. How Corruption Affects the Economic and Institutional Textures of States: three case examples Section 5: Horizontal Assessment of the International Hard Law Instruments 9. The US FCPA as the Archetype of the Supra-national Anti-bribery Regulation 10. The Emergence of an International Framework: Regional, International, and Multilateral Treaties and Initiatives 11. Criminalization of the Offence 12. Sanctions and Corporate Liability 13. Jurisdictional Issues 14. Mutual Legal Assistance and Extradition 15. Preventive and Non-criminal Related Measures 16. Follow up Procedures as Specific Cases of International Supervision 17. Asset Recovery Afterword Bibliography Index
