Skip to main content

Cookies and Privacy

We use cookies to improve your experience on our website. To find out more, read our updated Cookie policy, Privacy policy and Terms & Conditions

Corrupting the Fight Against Corruption

At its recent annual meeting, World Bank officials spoke extensively about corruption. It is an understandable concern: money that the Bank lends to developing countries that ends up in secret bank accounts or finances some contractors’ luxurious lifestyle leaves a country more indebted, not more prosperous.

James Wolfensohn, the Bank’s previous president, and I are widely credited with putting corruption on the Bank’s agenda, against opponents who regarded corruption as a political issue, not an economic one, and thus outside the Bank’s mandate. Our research showed systematic relationships between corruption and economic growth, which allowed us to pursue this critical issue.

But the World Bank would do well to keep four things in mind as it takes up the fight.

We hope you're enjoying Project Syndicate.

To continue reading, subscribe now.

Subscribe

Get unlimited access to PS premium content, including in-depth commentaries, book reviews, exclusive interviews, On Point, the Big Picture, the PS Archive, and our annual year-ahead magazine.

https://prosyn.org/qmm2OxR;
  1. solana114_FADEL SENNAAFP via Getty Images_libyaprotestflag Fadel Senna/AFP via Getty Images

    Relieving Libya’s Agony

    Javier Solana

    The credibility of all external actors in the Libyan conflict is now at stake. The main domestic players will lower their maximalist pretensions only when their foreign supporters do the same, ending hypocrisy once and for all and making a sincere effort to find room for consensus.

    3

Edit Newsletter Preferences