Economics of Bribery Literature Modern literature began with the work of Rose-Ackerman (1975, 1978). Despite numerous studies of macro-level corruption, micro evidence on causes of corruption is still rare. Key findings at the firm level are that bribery is significantly determined
Corruption—the abuse of public office for private gain—covers a wide range of behavior, from bribery to theft of public funds. Corruption exists all over the world, but it is usually present in countries with weak institutions, often affected by fragility and conflict. For over 20 years, the World Bank has been working at the country ...
The second problem involved is that of punishing a company double: I think that if international legislation criminalizes bribery and imposes the obligation of compensating the various categories of victims, far from reducing capital for foreign investment, it will promote integrity, innovation and progress in international trade.
Corruption is among the greatest obstacles to economic and social development. The harmful effects of corruption are especially severe on the poor, who are hardest hit by economic decline, most reliant on the provision of public services, and least capable of paying the extra costs associated with bribery, fraud, and the misappropriation of economic privileges.
With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.
The alliance was established by the World Bank in 2009 to channel the Bank’s referrals for bribery and corruption cases to affected countries. In the last fiscal year, the World Bank referred 32 cases to governments and anticorruption agencies so they could investigate whether national laws had been violated.
Many issues continue to be vigorously debated, but some measure of international consensus is also apparent, reflected in the adoption of the UNCAC, more vigorous enforcement of foreign bribery laws, and greater recognition of the need to strengthen beneficial ownership transparency.
Bribery and fraud in procuring pharmaceuticals or medical equipment can weaken survival rates and constrain the ability of children to thrive. Corruption in infrastructure and among traffic police can lead to unsafe roads, weakening human capital and undermining access to opportunities.