The state of corruption

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Transparency International focused its newly-released Global Corruption Report 2007 on judicial systems:

There is […] a correlation between levels of judicial corruption and levels of economic growth since the expectation that contracts will be honored and disputes resolved fairly is vital to investors, and underpins sound business development and growth. An independent and impartial judiciary has important consequences for trade, investment and financial markets, as countries as diverse as China and Nigeria have learned.

This 400-page-long volume adds new country-specific case studies, compares Russia with Brazil as well as other emerging economies. John Bray's section on measuring the impact of corruption on international business shows that 40 percent of surveyed firms believe to have lost international business contracts due to competitor’s bribe.

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