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What is Business Climate

Handbook of Research on Global Business Opportunities
Refers to the attitude of government and lending institutions towards business activity. It also includes the tax rate, inflation and attitude of labor unions towards employers.
Published in Chapter:
Corruption, Business Climate, and Economic Growth
Harish C. Chandan (Argosy University, USA)
Copyright: © 2015 |Pages: 23
DOI: 10.4018/978-1-4666-6551-4.ch022
Corruption is globally pervasive. Defined as abuse of entrusted power for private gain (Transparency International, 2013), corruption represents a set of economic, social, cultural, and political practices that are secretive and rooted in greed, ambition, or quest for power. This chapter reviews causes of corruption including the macro- and micro-level determinants of corruption such as leadership, management, and organizational culture. Various subjective and objective measures of corruption are discussed. Transparency International's Corruption Perception Index (CPI) and Heritage Foundation's Economic Freedom Index (EFI) are reviewed. The World Bank's Business Environment and Enterprise Performance Survey (BEEPS), Doing Business Indicator (DBI), and World Bank Institute's Governance Indicator (WBI-GI) are also reviewed, as is the role of global anti-corruption agencies and various instruments. Additionally, the relationship between corruption and foreign domestic investment, economic growth, and economic and political institutions are considered, as are anti-corruption intervention strategies for corruption and business ethics training.
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