CLEAN : G20 OECD presents new code of practice against corruption

The video discusses the role of public sector and financial markets in global standard setting. It highlights that no country is inherently more virtuous than others, but differences in institutions and systems can lead to better prevention of unethical behavior. The presence of sanctions plays a crucial role in maintaining standards by deterring temptation.

What is the role of public sector and financial markets investors in the context of global standard setting?

• They focus solely on domestic economic growth.

• They are not involved in standard setting.

• They play a crucial role in global standard setting.

• They are responsible for setting local regulations.

According to the transcript, why is no country considered more virtuous than others?

• It depends on the quality of institutions and systems.

• All countries have the same level of corruption.

• Virtue is determined by the wealth of a country.

• Virtue is a cultural trait.

What is the main reason some countries have better systems than others?

• They have better institutions and systems.

• They have more natural resources.

• They have a larger population.

• They have a longer history.

How do institutions and systems prevent temptation from taking over?

• By increasing public awareness.

• By offering financial incentives.

• By ensuring there are sanctions in place.

• By promoting cultural values.

What is the significance of having sanctions in place according to the transcript?

• They help in maintaining international relations.

• They ensure compliance and prevent misconduct.

• They are used to punish only financial crimes.

• They are symbolic and have no real impact.