Abstract

This article argues that the current intersection of the Foreign Corrupt Practices Act (FCPA) and the Overseas Private Investment Corporation (OPIC) is turning U.S. investment and aid policy in a direction that neither addresses corruption concerns, nor augments other U.S. foreign policy goals in the Caucasus and Central Asia, and perhaps more globally. The current regulatory system has caused OPIC to structure its investment projects in alternative forms that bypass anti-corruption regulations. While these alternatives serve to increase capital in developing economies, the distance they create between OPIC and the end-user fosters a lack of transparency and ultimately corruption. However, improvements in transparency combined with a restructuring of the OPIC system can create an investment system that addresses U.S. foreign policy concerns.

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Additional Information

ISSN
1543-0367
Print ISSN
1080-0727
Pages
pp. 149-176
Launched on MUSE
2008-10-24
Open Access
No
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