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Public Event

Corruption and Multinational Corporations: New Evidence on Loopholes and Evasions in the OECD Convention and the US Foreign Corrupt Practices Act

Thursday, February 16, 2006 - 2:00pm to 3:30pm

Root Room (Second Floor), Carnegie Endowment for International Peace
1779 Massachusetts Ave, NW, Washington, DC
2:00 p.m. –3:30 p.m.

Download full text transcript (PDF, 103K)

Howard Mann - Senior International Law Advisor to the International Institute for Sustainable Development (Canada)
Ted Moran - Marcus Wallenberg Professor of International Business and Finance, Georgetown University and Non-Resident Fellow, Center for Global Development. Author of new CGD Working Paper 79 - How Multinational Investors Evade Developed Country Laws
Lou Wells - Herbert F. Johnson Professor of International Management, Harvard Business School

Chaired by:
Todd Moss - Research Fellow, Center for Global Development

The G-8 has endorsed sweeping efforts to combat bribery and corrupt payments by international investors. The OECD is leading a multilateral effort to ensure domestic legislation criminalizes illicit payments to secure contracts. Are these efforts effective? New evidence demonstrates that multinational companies are using procedures to pay off family members and cronies of developing country rulers that will not be detected or punished by the OECD Convention or the Foreign Corrupt Practices Act. What can be done that will actually be effective in combating corrupt payments?