ACTUAL ISSUES OF GLOBAL CORRUPTION

Valentina Fetiniuc, Ivan Luchian and Alexandra Tvircun
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Valentina Fetiniuc: International Institute of Management IMI-NOVA, Chisinau, Republic of Moldova
Ivan Luchian: International Institute of Management IMI-NOVA, Chisinau, Republic of Moldova
Alexandra Tvircun: Accent Group, Chisinau, Republic of Moldova

Journal of Financial and Monetary Economics, 2018, vol. 6, issue 1, 288-298

Abstract: Modern corruption tends to exceed the boundaries of origin countries, becoming a shadowy part of the process of economic and financial globalization. It forms specific financial relations and illicit financial flows, produces distortions in the distribution of Gross Domestic Product, contributes to functioning of shadow economy and negative financial phenomena. In the context of globalization process, corruption can be divided into internal (ie origin of corruption practices of country's residents) and external (that is, the one practiced by participants outside the country for the satisfaction of their own interests). One form of the last is transnational corruption, which often takes place with the participation of transnational companies. Globalization of corruption activities requires unification of countries' efforts to tackle this issue effectively

Keywords: corruption; corruption finance; transnational corruption; illicit financial flow (search for similar items in EconPapers)
JEL-codes: D73 F21 F23 (search for similar items in EconPapers)
Date: 2018
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