Hi, I am looking for someone to write an article on overview of the market failure Paper must be at least 2750 words. Please, no plagiarized work! The Foreign Corrupt Practices Act of 1977, FCPA was enacted to reduce corruption in foreign markets. Therefore, the act was enacted to correct market failures. Corruption involves using money or other resources to influence the decisions of an individual in preferring one entity to the detriment of others. Companies that did not participate in corruption in foreign markets lost to those that did in the awarding of government contracts and in venturing into new markets. This was a major problem that characterized market failure. Moreover, market failure occurs in cases where there are weak laws to discipline and monitor institutions. Institutions will fail to protect their investors due to managerial misconduct. Consequently, both investors and customers lose huge amounts of investments. Examples of these include Enron, Global Crossing and WorldCom corporations that failed due to bad managerial decisions.
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