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The Cost Of Corruption: Graft Results In Lost Tax Revenue, But It Also Takes A Social Toll

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from the International Monetary Fund

– this post authored by Paolo Mauro, Paulo Medas, and Jean-Marc Fournier

In 2013, Brazilian investigators working on a routine money-laundering case stumbled onto something far bigger: a bribery and bid-rigging scheme involving state-controlled oil giant Petrobras. Operation Car Wash, as the probe came to be known, discovered that some of Brazil’s largest construction and engineering firms had paid billions of dollars in bribes over a period of years to secure lucrative contracts from Petrobras. The scandal implicated dozens of government officials and politicians.

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Source: http://econintersect.com/pages/contributors/contributor.php?post=201909200557

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