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22 - 29 October
2016
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From
the CEO OF EMIS
A report released last week by Henley Business School suggests that bribery is still a major issue for businesses operating in emerging markets. The research found that 85% of executives admitted to paying bribes to facilitate deals in developing countries.
This is a staggeringly high number if you consider the legislation enacted to counter such activity in both developed and emerging countries and suggests that
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submitting to corruption is still often considered as a “cost of doing business” in the developing world. High-level corruption such as that uncovered in Brazil gains most of the headlines and there is no doubt that that the tide of public opinion is forcing governments in Asia and Latin America to enact anti-corruption measures. But it is the culture of everyday kickbacks and bribes that presents a huge threat to the development of some emerging economies. Such malpractice is regarded as standard operating procedure in some countries and there is enormous pressure on in-country executives to “comply or die”.
While the temptation to submit to what is often regarded as local custom is sometimes too much for those charged with developing business in these markets, the risks and penalties to their businesses are enormous. The more businesses refrain from submitting to corruption, the quicker it is likely to disappear.
Guy Dunn
Chief Executive Officer.
P.S. Here are some articles on this subject that I came across on the EMIS platform in the past week.
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Infographic
of the week
Poland's total construction output was valued at PLN 078bn in 2015, up 2.2%y/y.This increase in the value of Poland’s total construction output, included private works and work carried out by unregistered individuals.
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Weekly
News summary
Below
are the most read articles in the past week on EMIS
Perspectives, our daily blog of
emerging market news and insights.
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