Abstract
Corruption poses an enormous challenge to all domestic and foreign enterprises operating in Russia (Bremmer 2020). The Association of Chartered Certified Accountants (ACCA) estimated the Russian “shadow” economy to be around 40% of nominal GDP. This makes it the fourth largest in the world, behind Azerbaijan, Nigeria, and Ukraine. Transparency International (TI), in its corruption perception index, ranked Russia as low as the 138 least corrupt country in 2018 out of the 180 countries in the world. This is much higher than other major developing economies, the worst amongst BRICS member states (Table 23.1, Fig. 23.1).
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Notes
- 1.
Global Financial Integrity: Illicit Financial Flows, at https://gfintegrity.org/report/trade-related-illicit-financial-flows-in-135-developing-countries-2008-2017/, retrieved on October 27th, 2020.
References
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Ciravegna, L., Toews, G. & Vezina, P. (2016). Corruption: The long shadow of the Gulag, at: https://lagv2017.sciencesconf.org/file/323591, retrieved on September 7, 2020.
Lubitzsch, H. (2018). Anti-corruption and bribery penalties in Russia, at: https://www.lexology.com/library/detail.aspx?g=dc31f326-a062-4ec0-8d32-abf47e2417e1, retrieved on March 7, 2020.
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Randau, H.R. (2021). Corruption and Fraud Risks. In: Medinskaya, O., Randau, H.R., Altmann, C. (eds) Russia Business. Springer, Cham. https://doi.org/10.1007/978-3-030-64613-4_23
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DOI: https://doi.org/10.1007/978-3-030-64613-4_23
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