An Analysis of the Long-Run Relationship Between Corruption and Debt Sustainability in Nigeria

Author(s): Matthew Terry RIVI,Ishmael OGBORU,Dooshima Jennifer RIVI / Language(s): English Issue: 2/2020

Corruption and public debt have continued to increase in Nigeria despite the anti-corruption posture of governments over the years and justifications often advanced for accumulating debts. The rising tides of public sector corruption in Nigeria are pervasive with its debilitating effects on the economy. The government’s anti-corruption campaigns have produced minimal results than expected as the country’s performance on global ranking by Transparency International remains dismal. Coincidentally, the fiscal stability of the economy has been jeopardized by increased public debts without commensurate investments injected into the system.This paper examined the long-run relationship between corruption and debt sustainability in Nigeria from 1996-2019 and employed the Vector Error Correction Model (VECM) technique of analysis.The choice of the period covered was informed by the need for a large dataset which guarantees a robust outcome in time series analysis and to capture the year 1996 when Nigeria made its first appearance in the assessment of global perception of corruption by Transparency International. Findings revealed that corruption is negatively related to debt sustainability in Nigeria, suggesting that higher incidences of corruption make public sector debt unsustainable. The speed of adjustment of -0.7575869 is negative which is statistically significant at 5%. This shows that there is 75.76%-point adjustment taking place each period towards the long-run periods. There is, therefore, the need for effective anti-corruption institutions, revisiting of the whistleblower policy, and entrenchment of the culture of transparency in financial transactions in order to curtail the ravaging effects of corruption in Nigeria.

An Approach to Fraud Risk Management

Author(s): Monica Puiu / Language(s): English Issue: 05/2014

Nowadays, globalisation and business internalisation have led to an increased number of frauds in organisations worldwide. The most affected are the multinational corporations because of the geographical distance, different fiscal systems and local factors that consist in tremendous opportunities for employees and/or managers to involve in fraud schemes. Starting from recent studies and prior efforts of international organisations or countries to stop fraud by imposing regulations to be respected for the economic environment, the purpose of the paper is finding the key factors for detecting and preventing fraud in the organisations. In our approach we use several proposals for a conceptual framework developed by two companies of “The big four”, KPMG and Deloitte. The results indicate that for the number of fraud to decrease, any organisation needs to develop and implement a strong anti-fraud plan, by covering all logical steps to be made in this matter.

An Assessment of Institutional Improvements in Romania and Bulgaria Following EU Accession

Author(s): Dragoș Dinca / Language(s): English Issue: 2/2022

The purpose of this paper is to analyse to what extent accession to the European Union affected the quality of institutions in Romania and Bulgaria. In order to measure these effects, indicators of perceived corruption have been built based on data from the Life in Transition surveys I, II, III, conducted by the European Bank of Reconstruction and Development. Under the specifications of a difference-in-differences methodology, evidence of a reduction in small acts of corruption has been discovered for both countries, with larger effects in Bulgaria. In regards to high level corruption, Romania proved to be successful in tackling this dimension nine years after the accession, while for Bulgaria the evidence suggests an unfavourable deterioration over time.

AN ASSESSMENT OF THE JUDICIARY ON ADMINISTRATION OF JUSTICE AND GOVERNANCE IN NIGERIA

Author(s): Phillip Musa,Raphael Olukayode Adeolu / Language(s): English Issue: 18/2020

The Judiciary plays dominant role in the administration of justice. A country can hardly develop without good governance and a perfect judicial system revered by the people. Attributes of democracy are good governance, rule of law anchored separation of powers and independence of Judiciary. Independence of judiciary inter-alia includes appointments, salaries, allowances, discipline and retirement benefits, which made it distinct from other arms of government. The Nigerian Judiciary however has come to Public domain lately with crisis that tends to question their integrity and independence. The October 2016 incident and the 2019 removal of the Chief Justice of Nigeria paint a picture of Nigerian Judiciary in Public view that tends to undermine the so much referred institution. The actions that followed leave so much to be desired of the sacred arm of the government. This work x-rays the Nigerian Judiciary, the constitutional provisions for its duties and independence in a global democratic arena. The paper examined relevant international and regional instruments and other local statutes. The method of the paper is qualitative and exploratory in nature. By way of descriptive analysis of secondary sources, the paper draws insights from scholarly exegesis and empirical historical evidences and cases. The paper concludes by recommendations that could restore the dignity of the Judiciary and respect for Nigerian democracy.

AN ATTEMPT AT DIPLOMACY: HOW THE PURSUIT OF A NUCLEAR DEAL WITH IRAN AFFECTED THE UNITED STATES-ISRAEL RELATIONS

Author(s): Anda Ghilescu / Language(s): English Issue: 2/2018

This article follows the United States’ pursuit of a comprehensive agreement with Iran over its nuclear program, by putting it in the context of U.S. – Israel relations. Firstly, it offers an overview of the highly contextual relations between Israel and Iran, in order to understand the historical evolution of their present-day rivalry. Secondly, it observes the Iranian regime under Mahmoud Ahmadinejad in the aftermath of George W. Bush’s foreign policy actions, and the increased international focus on Iran’s nuclear capabilities. Finally, the focus shifts from President Bush to President Obama and how his foreign policy priorities in the Middle East, particularly the dialogue with Iran, affected the relations with the Israeli government the closer the negotiators got to achieving a final nuclear agreement. This paper seeks to emphasize the interdependent character of the Iran-Israel-U.S. dynamics through the perspective of one of the most pressing regional and international concerns: Iran’s nuclear program.

An empirical analysis of the determinants of economic growth in the Western Balkans

Author(s): Besnik Taip Fetai,Besime Fekri Mustafi,Besnik Fetai / Language(s): English Issue: 2/2017

The objective of this paper is to assess the main determinants and the policies that affect economic growth in the Western Balkan over the period 1994 to 2015. It employs techniques such as pooled OLS, fixed and random effects model, and Hausman-Taylor model with instrumental variables (IV). The study shows evidence of conditional convergence, indicating the need for an upward move in the steady state level. The results show that foreign direct investments, gross savings and domestic credit to the private sector have a positive effect on per capita growth. On the other hand, initial level of per capita growth, corruption, unemployment, and general government final consumption, have a negative relationship with per capita growth. The study also shows a puzzling result, that schooling is not a significant factor for growth in Western Balkans. The study also highlights the relevance of attracting more foreign direct investments and reduction in corruption

An Operative Area for Amphibious Ships: Fighting Piracy

Author(s): Alper Gunoral,Fahri Erenel / Language(s): English Issue: 11/2016

Piracy has always been a big problem for sea routes. Several years ago the Gulf of Eden was the high risk area for mariners. United Nations task groups, big war ships took charge for maritime security and 2016 became a quieter year in that area. But piracy never diminished globally despite total efforts and millions of dollars spent. The new High Risk Areas seem to be Gulf of Guinea and around Malacca Strait. Malacca Strait is also a narrower and risky area for big ships. This article compares different kinds of warships, to offer a new way of fighting against piracy, while reducing costs for flag states and increasing effectiveness.

Analiza Zakona o lobiranju Republike Srbije

Author(s): Smilja Obradović / Language(s): Serbian

Lobbying Law is a new law in the legal framework of the Republic of Serbia, which will start to apply in the second half of 2019. The envisaged legal solutions were subject to detailed analysis. The reasons for the adoption of this regulation have been explained and the envisaged structure of the participants in this procedure was considered. The conditions for conducting this activity and the role of the Anti-Corruption Agency and its significance for the implementation of this law have been presented. Finally, a critical review of the implementation of the lobbying process has been carried out, where it was concluded that the anti-corruption purpose of this regulation has not been realized and that similar activities have already been conducted in Serbia under the auspices of some other laws. Additionally, the state authorities are not recognized as the bearers of the activities regarding the regulations’ improvement and the Lobbying Law does not foresee any obligation of state authorities in the lobbying process. The only justified reason for passing this law is the realization of the undertaken international obligations in the process of accession to the European Union.

ANALYSIS AND IDENTIFICATION OF RESEARCH CORRELATIONS BETWEEN INTEGRATED REPORTING AND GLOBAL ENTERPRISE PERFORMANCE

Author(s): Anatol Melega,Veronica Grosu,Anamaria Geanina Macovei,Marian Socoliuc / Language(s): English Issue: 3/2022

The development and globalisation of the world's economies and the growing number of multinationals contribute to a huge flow of financial and non-financial information. The process of gathering information is difficult and sometimes limited. This has raised the issue of developing an integrated reporting framework, encompassing all types of information and contributing to right investment decisions, in order to ensure the sustainable development of the entity. Financial reporting has adapted to the needs of stakeholders and market requirements, thus from simple reporting through statutory financial statements, we now have an integrated reporting system, covering all financial and non-financial information (social, environmental and governance indicators, etc.) of the entity. Through integrated reporting, the overall performance of the company is basically presented, incorporating economic, social and environmental performance indicators. The purpose of this article is to provide an analysis of the concept of overall business performance and integrated reporting and to highlight the role of integrated reporting in business sustainability.

Analysis of Financial Statements Focusing on Detection of Ponzi Schemes Using XBRL

Author(s): Zuzana Kubaščíková,Zuzana Juhászová / Language(s): English Publication Year: 0

A number of companies are asked to provide the relevant financial information in electronic form for the needs of national and international regulators of trading with securities and for the purposes of supervisors of financial institutions. To fulfill these requirements there is also a need to ensure effective electronic communication that allows grouping, organizing, and analyzing data according to the requirements of the user. This paper deals with the possibilities of using XBRL (eXtensible Business Reporting Language) for this purpose with a focus on tracking features of a Ponzi scheme. Typical characteristics of a Ponzi scheme are often found in a high-risk type of investment companies called HYIP (High-yield Investment Programs) many of which belong to bankrupt non-bank entities investigated since 2000.

Analysis of the Anticorruption Measures Reflected on the Official Websites of the Central Public Administration Institutions

Author(s): Alina Georgiana Profiroiu,Voichița Ioana MORAR (BONDOR) / Language(s): English Issue: 1/2018

This paper tries to analyse the way that the implementation of the National Anti-corruption Strategy 2016-2020 (N.A.S.) was reflected on the websites of the Romania’s central public administration.The present paper aims to assess achieved N.A.S objectives at this level, efficiency and effectiveness of implementation measures, identification of good practices or vulnerabilities encountered since its adoption and the perspectives for evolution in the current social and political context.Research methodology consists in analysing public documents posted on public institutions website, reports, studies, strategies and other existing data, as well as designing an evaluation grid for the implementation measures of N.A.S. 2016-2020, adopted at the level of 23 ministries, which pursued the degree of transparency and public acceptance of the implementation measures of N.A.S. 2016-2020 through the official websites.Also, a comparative analysis of websites’ transparency between the Ministry of Regional Development and Public Administration and the Ministry of Health was done in the end of this paper

ANALYSIS OF THE INFORMATION ON THE SOCIAL ASPECTS SUBMITTED IN THE SUSTAINABILITY REPORT BY THE COMPANIES IN ROMANIA WHICH USE THE SUSTAINABILITY REPORTING STANDARDS DEVELOPED BY GRI

Author(s): Geanina Iulia Boțoteanu Rădăcină / Language(s): English Issue: 3/2020

Starting with the financial year for 2017, public interest entities in Romania that register more than 500 employees are obliged to publish non-financial information in the administrator's report or in a separate report. This information refers to environmental, social, human rights, anti-corruption and bribery issues, as well as other aspects considered significant. The objective of this article is to analyze the information reported by the Romanian companies that use the reporting standards issued by the Global Reporting Initiative, regarding the social aspects.

ANAYASAL İKTİSAT TEORİSİ ÇERÇEVESİNDE LİDERLİK VE YÖNETİM AHLAKINA BAKIŞ

Author(s): Ahmet Arslan,Esra Çikmaz / Language(s): Turkish Issue: 7/2020

Along with the increasing tendencies of globalization, there have been some changes in the perspectives of those who govern the government. With the development of technology, the results resulting from management have become quicker and easier to question, and the understanding of arbitrary management has tended to leave its place to a transparent and accountable management approach based on mutual consensus. Constitutional economic theory has adopted the principle that people at the top level of management should use the resources on the basis of efficiency and efficiency instead of political interests, and that there are some legal constraints with an economic constitution and that the quality of management in the public administrators complies with both legal and local principles. When the studies on Constitutional Economic Theory are examined, its relationship with management and management ethics has remained in the background in the literature, since the theory is handled with its economic and financial aspects. In the studies conducted on management ethics, the issue is not addressed in terms of constitutional economic theory. Therefore, there was a need to look at the theory in terms of management ethics as well as economics and finance. This study includes the principles to meet this need. The aim of the study is to find a solution for how a moral management approach should be within the scope of the basic suggestions of Constitutional Economic Theory. In the study, the theoretical information about how to be a good leader manager should be given within the scope of the constitutional economic theory, and the recommendations that are thought to be useful for today's public administrators are included.

Animale politice de primavara

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Author(s): Ion Mureşan / Language(s): Romanian Issue: 03+04/2017

The text is a subtle analysis of the Romanian contemporary political class.

Ankara Vilayetinde Yolsuzluk ve Kaçakçılık Üzerine Bazı Tespitler (1908-1918)

Author(s): Erciment Sarıay / Language(s): Turkish Issue: 1/2020

In the historical process, as in every state, some corruption incidents have been witnessed in the Ottoman Empire. The state has always made some legal arrangementsto prevent corruption. In particular, the regulations made during the Tanzimat and Constitutional Monarchy periods are extremely important in terms of preventing corruption. However, these regulations could not prevent the incidents that damage public and social morality such as corruption, bribery, malversation, and perpetration. Another fact that harms the public order is smuggling. Although smuggling is common in coastal areas throughout the country, upcountry areas also affected by this. Ankara province, which has an important position within the Anatolian transportation network, has become one of the transition routes of smuggling. In this respect, in the province, although not very common, cases of smuggling have been witnessed, especially tobacco smuggling. However, it can be said that Ankara is also a market in terms of marketing and consumption of smuggled tobacco in the examined period. The fact of corruption and smuggling, which is a result of economic, social and moral decay, is one of the important problems for maintaining a healthy public order both in the center and in the rural during the dissolution process of the Ottoman Empire. These problems have been also seen occasionally in Ankara province and affected social peace negatively. The theoretical framework of this study, which examines the reflections of corruption and smuggling cases on Ankara province, has been built on the concepts of corruption, bribery, malversation, smuggling (especially tobacco smuggling). The main purpose of this study is to reveal the incidents of corruption and smuggling in the province of Ankara, the attitudes of the central government and the local government on thisissue and how the society is affected in the light of archive documents. This study evaluates the smuggling activities in Ankara, Aydin, and Trabzon provincesin general. However, no comparison was made for the corruptionsin Aydin and Trabzon provinces as there wasn’t sufficient data.

Anonimizacija ili cenzura sudskih odluka? Problemi s Pravilnikom Suda BiH

Author(s): Sevima Sali-Terzić / Language(s): Bosnian

The enactment of the “Regulation on Access to information under the control of the Court of BiH and Cooperation With the Community” raised serious concerns in both media and legal community who consider that the Regulation introduces a sort of censorship in access to information, in particular in relation to criminal proceedings on war crimes, organized crime and corruption cases and neglects the high public interest to be duly and timely informed on these cases. The analysis shows that the Regulation does not annul the public character of the trial and the pronouncement of the judgment. However, it lacks sufficient clarity in order to avoid misinterpretation of the rules on anonymization of audio-visual and other „informative material“ that Court of BiH provides to media and general public in relation to the ongoing cases and in order to preserve the right of public to be informed as well as the right of a private person to have his/her personal data protected in an appropriate manner. In this regard, the Regulation should be revised in a way to put more emphasis on the need of „public interest test“ in relation to all information related to the ongoing trials on war crimes, organized crime and corruption cases, that are of particular importance to the general public in BiH. Also, the rules on anonymization of judgments should be revised in order to be harmonized with the Law on Prohibition of Discrimination that provides for publicity of the written judgment always when the Court establishes discrimination, but also in order to regulate exemptions from the anonymization of judgments in war crime, organized crime and corruption cases.

Another Eastern European Nation Gets Tangled In US Politics

Author(s): Vlad Lupan / Language(s): English

Days after Richard Grenell was recently named by President Trump as the United States’ acting national director of intelligence — America’s chief spy — a media site reported that Grenell had worked for an Eastern European politician whom the US has accused of corruption and barred from the country. Grenell, who is in the job until a permanent director is named and confirmed, apparently did not disclose that income or register as a foreign agent. The story is complicated.

Anti-Corruption and Combating Organized Crime, Terrorism and Corruption in Modern Law

Author(s): James May / Language(s): English Publication Year: 0

The author explores the issues of the National Anti-Corruption Strategy, financial investigation strategy and the enactment of the Law on Organization and Jurisdiction of State Authorities in Combating Organized Crime, Terrorism and Corruption in Republic of Serbia. He emphasizes that the organizational achievements have been met also. For example, the special anti-corruption departments in four locations in Republic of Serbia have been established. Anti-corruption strategy has to involve various activities, including training of the police and public prosecutor’s office, as well as training judges and magistrates. Financial investigations should both assist in resolving the case and defining and identifying the flow of money and assets.

Anti-corruption efforts in Switzerland: An overview

Author(s): Alexander A. Trefilov,Marina Molchanova / Language(s): English Issue: 46/2019

The system of law enforcement in Switzerland is regarded as one of the most efficient in Europe, and the level of corruption in this country is considered one of the lowest. Thus, according to the annual police criminal statistics (Polizeiliche Kriminalstatistik. Jahrbericht. 2015)1, in 2015 only 46 corruption-related crimes were found in Switzerland, including only 10 bribery-related crimes. The authors emphasize that in 2015 in Switzerland there were only five cases of people accepting a bribe.

Anti-corruption in Moldova and Ukraine: A V4 Handbook of Best Practices

Author(s): / Language(s): English

Corruption is the most oft-cited obstacle in relations between the EU and two of its eastern partners, Moldova and Ukraine. Seeping through public and private exchanges alike, systemic corruption impedes sectoral reforms—a crucial element of modernisation. The handbook offers concrete case studies from the Visegrad countries’ anti-corruption policy tracks and proposes solutions on how Moldova and Ukraine can best capitalise on the EU’s expertise, financial assistance and political momentum in anti-corruption reforms to minimise risk and optimise success.