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Corruption is considered a strong constraint on growth and development The fraud and corruption schemes uncovered by investigators at the world bank are linked to many other global challenges The academic literature, however, finds different effects of corruption on economic performance
Some research considers corruption a ‘grease the wheels’ instrument Article 12 of the convention against corruption directly addresses the importance of engaging the private sector in the fight against corruption In this view, corruption helps to overcome cumbersome bureaucratic constraints, inefficient provision of public services, and rigid laws (huntington 1968.
Corruption is at the centre of many of the world's most pressing problems
Current crises are likely to make corruption worse Partnering against corruption initiative founded in 2004 by chief executive officers from world economic forum partner companies, the partnering against corruption initiative (paci) is committed to embedding trust and integrity into corporate strategy Corruption isn’t just about people lining their pockets It has a very real impact on the lives of some of the world’s poorest people.
The world economic forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas Traditional approaches to fighting corruption tend to focus on rules, compliance and enforcement We need to rethink this to build societies with integrity.
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