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Impact of Bribery on Firm Value by Cato Institute is a document available to read on EtoBox.
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Corruption reduces levels of investment and, ultimately, economic growth. Indeed, the World Bank estimates that corruption costs $2.6 trillion (5 percent of global GDP) per year, with $1 trillion paid in bribes every year. Corruption in the form of bribery is also widespread across firms. According to a survey of more than 11,000 firms from 125 countries, one in three firms believes competitors use bribes to secure public procurement contracts. In an attempt to fight corruption, some developed nations have
- Author
- Cato Institute
- Language
- EN