Control of accommodation payments made by transnational corporations.

Abstract

This dissertation attempts to shed light on illegal and questionable payments made by the transnational corporations. It commences with a definition of the kinds of payments to be considered, discusses the various elements involved in the making of such payments, and identifies the various parties involved in such transactions. It then goes on to analyze the effects of such payments in detail, highlighting their economic and socio-political impact, in an effort to provide a justification for controlling such payments. Thereafter, the dissertation discusses the benefits of an international code as a means to control such payments and provides a detailed discussion of the international efforts made to date by various international organisations like the United Nations and the Organisation for Economic Cooperation and Development (OECD). The dissertation then outlines the problems which hamper the successful implementation of these international efforts. This section contains a discussion as to the impediment created by the conflicting stance taken by the developed and the developing countries on the matter. After taking all this into consideration, the dissertation focuses on the problems encountered by nations which unilaterally attempt to curb the practice of making illegal and questionable payments, and the experience of the United States of America is discussed in detail. Finally, the dissertation suggests means which might help in controlling and more effectively restraining the transnational corporations and all the parties involved from resorting to illegal or questionable payments in international commercial transactions in the near future.