Corruption in World Bank-Financed Development Projects: A Phenomenon-Focused Examination

Lorenzo Pasculli and Nicholas Ryder (eds.) Corruption in the Global Era: Causes, Sources and Forms of Manifestation, Abingdon: Routledge, 2019, pp. 258-276; ISBN 9780367177768

19 Pages Posted: 22 Feb 2019

Date Written: February 5, 2019

Abstract

In order to counter corruption and other illicit conducts within its projects, the World Bank has developed an independent sanctions system, which represents a powerful tool that can be used to help ensure that the granted funds are actually used to benefit developing countries. This sanctions regime, although extremely valuable to fight corruption, is currently characterized by a limited level of transparency and affected by structural issues such as the lack of democratic legitimacy, the incompleteness of the related legal frameworks, and the absence of effective due process safeguards. This chapter aims at illustrating how the World Bank’s sanctions system has brought to light the way in which corruption operates within its projects and the weak spots that have been identified so far in the fight against such a criminal phenomenon.

Keywords: corruption, world bank, bribery, crime, criminal law, development, corporate crime, sanctions

JEL Classification: K14, K42, K43

Suggested Citation

Grasso, Costantino, Corruption in World Bank-Financed Development Projects: A Phenomenon-Focused Examination (February 5, 2019). Lorenzo Pasculli and Nicholas Ryder (eds.) Corruption in the Global Era: Causes, Sources and Forms of Manifestation, Abingdon: Routledge, 2019, pp. 258-276; ISBN 9780367177768. Available at SSRN: https://ssrn.com/abstract=3329392 or http://dx.doi.org/10.2139/ssrn.3329392

Costantino Grasso (Contact Author)

Coventry University ( email )

Priory Street
Coventry, CV1 5FB
United Kingdom

HOME PAGE: http://https://pureportal.coventry.ac.uk/en/persons/costantino-grasso

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