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详细
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.
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Contents: Foreword Preface Introduction Part I: Economics, Finance, and Governance Emergent Properties and Complex Financial Markets 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 Trans-national Corruption Affects the Economic and Institutional Textures of States 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
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The late Marco Arnone, former Director, Centre for Macroeconomics and Finance Research, Italy and Leonardo S. Borlini, Bocconi University, Italy
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'It is now rather common to speak of ‘transnational law’ as an approach to legal research that transcends national frontiers and domestic regulatory policies. Such a model accepts that rules can be generated not just by governments or by international cooperation, but also by individuals, corporations and various other organizations. As clearly evidenced by this book, unfortunately, one of the most successful transnational systems is the one based on corruption. The authors however, never to be defeated, show through a rigorous legal and economic analysis how instead, to develop policies and rules to fight what is sometimes perceived as an unavoidable phenomenon. In short, an invaluable addition to the study of this still largely unexplored area.'
– Andrea Biondi, Kings College London, UK
'In everyday understanding, corruption means degradation, decomposition, degeneracy, depravity. The concept is common to all cultures, and all dictionaries provide for very close descriptions. Corruption, in a specific connotation, is also defined by the statutory law of most - if not all - States as a a criminal offense: it is an illicit trade of official functions, committed betraying the very reason ('the duties') of one's office. Corruption alters, dismantles and depravates the idea of a civil society, as it critically wounds the bond of trust that lays at its very basis, and, thus, the deepest foundation of all social relations. To mariginalise corruption, and heal the damages it causes to society at large, it is necessary, first, to investigate what corruption is. By thoroughly analyzing the phenomenon per se, and offering a review of possible remedies against it, this book brilliantly and with exceptional efficacy, contributes to such an indispensable goal.'
– Gherardo Colombo, formerly Public Prosecutor, Milan Public Prosecutor's Office and Judge, Supreme Court of Italy
‘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