Can Private Sector Action Tackle Corruption?
Corruption is an impediment to growth and poverty reduction. As the authors in this issue of Development Outreach well document, corruption limits opportunities, creates inefficiencies and forms additional barriers to the smooth delivery of service...
| Main Authors: | , , |
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| Language: | English |
| Published: |
2012
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2007/01/7380911/can-private-sector-action-tackle-corruption http://hdl.handle.net/10986/9582 |
| Summary: | Corruption is an impediment to growth
and poverty reduction. As the authors in this issue of
Development Outreach well document, corruption limits
opportunities, creates inefficiencies and forms additional
barriers to the smooth delivery of services. Crucially, from
the perspective of the World Bank Group, corruption
cumulatively undermines progress towards achieving
development objectives, not least as its impact is most
adversely felt by the world's poor. The World Bank has
taken a clear public stance-based on exhaustive research-to
seek ways to combat corruption. To this end we do and must
work together with other international organizations,
governments, civil society groups, and the private sector.
As noted by World Bank President Paul Wolfowitz, the private
sector worldwide is one of the most important partners in
this process and, without the active engagement of business,
progress will be limited. This newsletter includes some of
the following headings: introduction; why should business
care; corruption affects everyone and exists all over the
world; capacity of government to regulate is key; so, what
is being done; action by individual firms; collective action
and the role of associations; industry-wide efforts also
hold promise; global standards can be effective at producing
peer pressure to reform; the World Bank's contribution;
increased attention to its own loan portfolio; the power of
data and benchmarking; embedding governance and
anti-corruption at the heart of country strategy; powerful
diagnosis and analytical tools help guide actions at the
country level; affecting both the demand and supply side of
good governance; multi-stakeholder partnerships are a
complex and nuanced undertaking. |
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