One subject I write about frequently is the affects of corruption on the business climate in Panama. Several months ago we participated in a study by the American Chamber of Commerce in Latin America regarding the affects of corruption on our businesses. Questions about our experience with corruption and our assessments of its damage along with other queries were put forth.
The Latin Business Chronicles has written a summary of the report. Here are some of the findings. "When asked what they believe is the key issue affecting the future of democracy in their country, 31 percent ranked corruption as the “most important.” In terms of reducing corruption, 48 percent of respondents ranked transparency and accountability in public institutions as the most important step that needs to be taken, while 31 percent cited fighting corruption as the most important next-generation reform for the region.
The survey
was conducted in August and September among 813 respondents from 22
countries in Latin America ">So how significant a problem is corruption in Latin America for companies doing business there? Nearly half – 48 percent – say it’s significant."In fact, more than a third – 34.5 percent – of those surveyed don’t think a company, individual, or government official will be punished for making or
receiving illicit payments related to obtaining business.">Only 18.3 percent ">think anti-corruption laws are effective in the country where they work, versus 8.17 percent that believe the opposite.
More than half – 55 percent - believe that dealing with corruption risk is a top priority of their companies, while an even larger number– 66 percent - believe that the importance of preventing ">corruption has increased for their companies over the last five years.">When asked to rank perceptions of corruption in 12 countries, respondents
say Bolivia, Venezuela an Ecuador are the most corrupt, while the
United States, Chile an Costa Rica are the least corrupt. Mexico ranked right behind Ecuador and ahead of Argentina, while Brazil ranked among the least-corrupt countries, the survey shows. Fully 71.8 percent of respondents say corruption is a significant obstacle in Venezuela versus 3 percent in Chile.
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