The Political Economy of Corruption

By Arvind K. Jain | Go to book overview
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the FCPA, and these involved GE company funds that were fraudulently disbursed through subcontractors for testing of jet engines that was never actually conducted. (Dotan was paid out of these funds to exercise his influence with the Israeli government to use GE in future contracts, but there was no evidence that GE was aware of this.) GE's settlement with the Justice Department thus pertained entirely to the embezzlement of US government funds and not to the FCPA. GE's internal response as a company to the scandal was to fire several senior level managers for their failure to ensure that the anti-corruption policies of the company were adhered to. In the intervening period, GE has become one of the strongest multinational corporate voices for the development of corporate, national, and international anti-corruption programs, policies, and laws.

In January 1992 Colgate-Palmolive opened a plant in Guang Dong, China, without resorting to bribery (Rossbacher and Young 1996:12).


Aronoff, A. (1998) "Anti-bribery Provisions of the Foreign Corrupt Practices Act," United States Department of Commerce,

Beaver, W. (1994) "Nuclear Nightmare in the Philippines," Journal of BusinessEthics 13.
Boyce, J. K. (1993) The Philippines: The Political Economy of Growth andImpoverishment in the Marcos Era, Honolulu: University of Hawaii Press.
deGeorge, R. (1997) "International Business Ethics: Russia and Eastern Europe," in T. L. Beauchamp and N. E. Bowie (eds), Ethical Theory andBusiness (5th edn), Upper Saddle River, NJ: Prentice-Hall.

Fischer, B. A. (1997) The Reagan Reversal: Foreign Policy and the End of theCold War, Columbia, Mo.: University of Missouri Press.

Geo-JaJa, M. A. and Mangum, G. L. (1999) "The Foreign Corrupt Practices Act's Consequences for US Trade: The Nigerian Example," Africa EconomicAnalysis, David Eccles School of Business and Dept. of Economics, University of Utah,
Glynn, P., Korbin, S. J., and Naim, M. (1997) "The Globalization of Corruption," in K. A. Elliott (ed.), Corruption and the Global Economy, Washington, DC: Institute for International Economics.

Jacoby, N. H., Nehemkis, P., and Eells, R. (1977) Bribery and Extortion in WorldBusiness: A Study of Corporate Political Payments Abroad, New York: Macmillan.

Kugel, Y. and Gruenberg, G. (1977) "International Payoffs: Where We Are and How We Got There," in Y. Kugel and G. Gruenberg (eds), Selected Readingson International Payoffs, Lexington, Mass.: D. C. Heath.

Los Angeles Times (1976) June 15.

Manchester Guardian (1999) September 7.
Mayer, M. (1981) The Fate of the Dollar, New York: New American Library.

National Export Strategy Report (1996) "U.S. Government Report on Transnational Bribery," September 14,
Naylor, R. T. (1987) Hot Money and the Politics of Debt, Toronto: McClelland and Stewart.

Passas, N. (1994) "I Cheat Therefore I Exist? The BCCI Scandal in Context," in W. M. Hoffman et al. (eds), Emerging Global Business Ethics, Westport, Conn.: Quorum.


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