ABSTRACT
This chapter focuses on the schemes adopted toward combating corruption in the international business environment and explores improvements in the penultimate section that could effectively reduce the incidence of corruption. It considers other anti-corruption mechanisms besides regulation with a view to assessing their usefulness in the global fight against corruption. Globalization arguably has contributed to the increase in the incidence of corruption. The United Nations (UN), for instance, issued a non-binding Declaration in 1996 against Corruption and Bribery in International Commercial Transactions which called upon UN member states to criminalize bribery of public officials, and promoted greater co-operation between member states to combat corruption and bribery in international commercial transactions. Openness to international trade is seen as a contributor to higher levels of corruption especially where there are trade barriers in the form of import duties and complex bureaucratic structures for customs clearance. A special feature of the World Bank anti-corruption strategy is sanctioning.
