Home > Free Essays > Economics > Banking Analysis > The World Bank’s Perspective: Law and Development
Cite this

The World Bank’s Perspective: Law and Development Essay


Introduction

The development of modern countries is predetermined by a variety of factors, including legal, institutional, and policy questions. The governments are ready to deal with the existing demands and the already established standards and rules.

The World Bank is one of the main international organizations that provide financial and organizational assistance to developing and developed countries around the whole world. Its loans and capital projects help to stabilize the economic situation in countries and create the conditions under which the progress in different fields becomes possible. Regardless of the existing growth and evident achievements in different fields, many problems remain unsolved and continue creating new challenges.

According to the World Bank Group with the World Bank as its main component, corruption is a serious global problem that leads to poverty, unfair treatment, increased costs, and public discontent.1 It is characterized as a complex phenomenon with its roots being observed in political and bureaucratic institutions that take responsibility for the overall development. Corruption hurts development and requires taking serious steps and implementing new policies in different fields, including the environment, health care, global safety, economics, or labor.

In this paper, the theme of corruption will be discussed from International Law and its relation to the World Bank. The international development of the countries cannot be stopped or controlled, and many unexpected outcomes and conditions may appear in a short period. The goal of this paper is to discuss the worth of the World Bank in the international arena and its contribution to the solution of corruption-associated problems from the legal perspective.

The analysis of the goals and purposes of the World Bank and the definition of international law helps to expand a list of contributions these two bodies may have on the development of anti-corruption policies. As a result, the World Bank in assistance with international law provides and contributes to international development through the introduction of policies and the definition of the standards for statues on the examples of the United Kingdom as a developed country and India as a developing country.

World Bank Essence

The World Bank is an international financial facility that exists since 1945 when it was created to help countries to borrow money and receive aid for their development and solution of current problems. This organization was formed to investigate the reasons for extreme poverty in different countries and promote prosperity by offering enough opportunities.2 According to the World Bank, the root of poverty is the present injustice that has to be eliminated by “creating the enabling environment for a range of development outcomes – from improved basic services to increased private sector investment and reduced corruption”.3

Together with the International Monetary Fund (IMF), the World Bank takes the necessary precautionary steps to control poverty and recognize the sources of corruption as a political and financial issue. It evaluates the conditions under which the governments may promote the development of their countries and offer loans to support and reduce the number of financial challenges.

The World Bank is a coalition of countries that are ready to become financial donors for other nations. At this moment, this group focuses on the provision of financial and technical aid to clients, supporting criminal justice and order, and improving global knowledge and initiatives. It is also necessary to understand that the World Bank is not a separate organization but a part of a huge international group. There are five main organizations in this group, including the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID).4

Each organizational unit has its specific goals and functions in the World Bank Group. For example, ICSID provides international facilities with a chance to demand investment disputes’ arbitration. MIGA focuses on the creation of new opportunities for foreign direct investment and guarantees against any political risks for both donors and borrowers. IFC deals with the private sector and assists developing countries in sustainable development that includes advisory services and financial investment.

The World Bank is a combination of two units of the World Bank Group, IDA and IBRD. IDA is responsible for credits that can be offered to developing (the poorest in the list) countries in their intentions to achieve some financial growth.

IBRD works with middle- and low-income countries the governments of which can prove their creditworthiness and give enough reasons for a new interest-free loan being offered. The World Bank investigates such issues as climate (environmental management), gender (equality promotion), employment (the creation of new good jobs for people), and violence (the removal of social and political conflicts). As soon as enough material is gathered, solutions and alternatives have to be formulated, and the countries in need may define some new aspects in their development from legal, political, environmental, and social perspectives.

Aims and Purposes of the World Bank

As a part of the World Bank Group, the World Bank has established one significant mission. It is expected to end extreme poverty in the world by 2030.5 This organization sets clear and definite purposes and proves its readiness to work hard to decrease the percentage (up to 3%) of people who live on less than $1.90 per day.6 The promotion of prosperity among the citizens of developing countries includes the possibility to increase the income growth up to 40%, and the World Bank performs an important role in this mission.7

It creates unique opportunities for poor or middle-income countries to ask for financial and technical help and maintain sustainable development. The main tasks of the World Bank are to provide loans, give guarantees, promote risk management, and coordinate challenges with the governments of the countries in need. Also, this organization aims at researching and analyzing the conditions under which developing countries can achieve progress by participating in different conferences, collaborating with many partners, and advising political leaders.

The World Bank has already established three priorities in its work with developing countries. First, it is important to focus on the results that can be achieved within a certain period. Therefore, the outcomes of the work done should be clear and measurable. It has to be easy to track changes and underline the progress made, as the implementation of new policies, approval or elaboration of laws and regulations in different countries, and the establishment of additional economic or political purposes.

The next priority is reformation with the help of which it is possible to improve living conditions and underline each aspect of the work. It is not enough to offer a loan and make it available to developing countries. Any offer has to be properly explained to a government and a community, and access to this information determines the worth of the World Bank. Finally, open development is the priority that cannot be neglected in the discussion of development, prosperity, and poverty reduction. The World Bank offers a variety of free printed and online sources with comprehensive information about the development in countries, crucial indicators, and challenges.

Overall Contributions of the World Bank

The contributions of the World Bank remain an integral part of international development, as well as economic, political, and social freedoms. Being the main source of loans and credits for developing countries, this facility has enough background information to introduce new policies, law operations, and institutions. According to the World Bank report developed in 2017, all “policies do not occur in a vacuum”, meaning that “complex political and social settings in which individuals and groups with unequal bargaining power interact within changing rules as they pursue conflicting interests”.8

It is expected that this organization deals with some external and internal factors while promoting sustainable growth and prosperity in developing countries. The work of the World Bank introduces a difficult system of tasks and functions that have to be performed in a logical order and according to the existing rules and regulations.

Also, the World Bank can monitor and analyze the progress of each country and clarify which targets have been already achieved, and what kind of work should be performed at another level. Recent technological progress offers multiple opportunities for countries regardless of the fact if they are ready to accept new options or not. Modern technologies have already helped more than one billion people to lift out of poverty.9 At the same time, technologies may challenge some countries and their governments because not all people understand the essence of technologies and can use them properly, thus promoting inequality and other factors to divide people into groups.

Therefore, technological contributions and data exchange under the control of the World Bank must be underlined in this sort of discussion. Nations have to be properly educated on how to use the information and available communication technologies. Innovations, policies, and research activities sponsored by the World Bank help to train people to build necessary capacities and monitor recent achievements. Overall, the World Bank is the organization that uses its financial opportunities to promote economic, social, and political prosperity in developing countries.

The World Bank and Economic Development

The World Bank is a financial body that performs multiple functions to reduce poverty that is an integral goal of economic development. The improvement of financial and economic welfare in the countries around the whole includes the necessity to strengthen public literacy, social infrastructures, and even healthcare indicators. Policies within the frames of economic development are based on investing in human capital with three main skills to be properly identified, including “advanced cognitive skills such as complex problem-solving, socio-behavioral skills such as teamwork, and skill combinations that are predictive of adaptabilities such as reasoning and self-efficacy”.10

In addition to personal qualities that serve as a basis for economic development and public goods, the recognition of necessary economic indicators is required. They may include inflation control, privatization, the establishment of low taxes, and investment. The World Bank promotes macroeconomic stability that is an important part of economic development in any country. It embraces effective monetary and fiscal policies and tools to stabilize the economic cycle and manage recessions because of inflation.

Governments develop social and financial programs to deal with poverty and create appropriate conditions for countries that want to take long-term loans. Globalization and industrialization lead to the establishment of international relationships that in turn promote international trade and foreign investments. The World Bank, as well as the International Monetary Fund (IMF), is an international body that develops structural adjustment policies and regulations for a country regarding its economic conditions, social attitudes, and other norms. Tax revenues can be raised, inflation may be controlled, and the budget deficit is reduced because government spending removes the existing barriers on markets.

Offered adjustment policies contribute to economic freedoms in developing countries. Compared to the IMF activities within which structural and growth-oriented changes are not possible, the programs offered by the World Bank have clear development goals and enough financial sources. Cooperation among more than 100 countries is a unique opportunity to find the necessary help in a short period and choose between the most suitable conditions. In other words, the environment that is conducive for business is created with reduced regulations, corruption, and costs.

Corruption as a Global Concern

The task of the government, as well as the World Bank or any other international organization, is to tackle corruption and avoid the mistakes associated with the need for inward investment. During a long period, corruption turns out to be a serious and, what is more important, complex economic issue that affects development in countries. It hurts poor and vulnerable populations when costs are increased, and access to necessary services (health care, education, and law) is limited.11

Because of existing corruption, poor people continue paying high taxes without the possibility to change a situation, and rich people can find out the ways and improve the conditions by reducing taxes and increasing costs. People continue living with corruption being a part of their lives. They understand that governments are direct participants and sponsors of corruption thus questioning the quality of work and the worth of social relations in their countries. The results of such concerns and the lack of control may gain different forms, including civil protests and enforcement of the law.

Each country is free to develop its anti-corruption laws, give definitions, and establish punishment. For example, in the United States of America, the Foreign Corrupt Practices Act (FCPA) was created in 1977 as a restriction for companies and individuals to influence the decisions of officials by specific rewards (payments, financial gifts, etc.).12

In the United Kingdom, the Bribery Act 2010 created a legal framework according to which people who are accused of bribery (an act when one person receives a reward, payment, or promise from another person who wants to achieve certain financial or business advantage.13

In China, there is Criminal Law of the People’s Republic of China, also known as the Criminal Code, and campaigns against corruption aim at eliminating the situations when money or property is offered to a public official to obtain certain illegitimate benefits.14 In India, corruption is defined and controlled under the Prevention of Corruption Act, 1988 when an investigation body is defined to study each case and make legally and ethically correct decisions.15 The consequences of corruption and bribery are usually lifetime imprisonment, criminal fines, and confiscation of property or other financial resources.

Many attempts are made to fight against corruption and establish trustful relationships between citizens and governments. During the United Nations Convention against Corruption, it was concluded that this economic issue threatens “the stability and security of societies, undermining the institutions and values of democracy, ethical values, and justice and jeopardizing sustainable development and the rule of law”.16

Corruption is a form of dishonesty that is based on authority, money, and power. These qualities make it existence and multiple conversions possible and unnoticeable. However, as soon as the case of corruption is recorded and legally proved, all stakeholders can be punished and deprived of several privileges and opportunities. The lack of control of corruption is one of the possible reasons why countries are not able to achieve the desired development and achievements. On the one hand, corruption is a result of what has been achieved, and what authorities can do with the resources and options obtained. On the other hand, corruption prevents many nations from taking the correct direction in the development and achieving the best possible outcomes in their financial operations, services, and other activities.

International Law and the World Bank on Corruption

The World Bank considers corruption as a cause of poverty, and anti-corruption programs should be developed to alleviate weaknesses and inequalities in society. During one of the recent meetings organized by the World Bank Group, the International Corruption Hunters Alliance was formed to prove that people who worked on the front governmental lines have to take all the steps and stop corruption in their countries.17

Corruption is when some public goods are used for private gain, and the goal of the World Bank is to prevent fraud within Bank’s operations, fight against corruption, raise a concern of corruption at different levels, and offer active support at the international level. From International Law, the Institute of Business Ethics introduced Anti-Bribery & Corruption (ABC) Standards and Frameworks in 2012 to combat corruption in business as the major obstacle in socio-economic development. The United Kingdom (UK) Bribery Act of 2010 and the FCPA were the two milestones in the creation of these regulations.18,19 Corruption is a complex phenomenon that may have different forms and outcomes, and it has to be eradicated with the help of global solutions.

The World Bank is based on the cooperation of many countries, united by one goal and having access to various resources. Therefore, there is a good chance to identify corruption using the experience of different countries in their fields, including ethical, religious, social, and cultural aspects. International law cannot be ignored as it dictates the norms that cannot be broken, and the World Bank is the instrument that completes tasks and makes decisions.

Corruption is a problem, and there is a solution that has to be found out by countries regarding demands, expectations, and possibilities. The World Bank offers several strong strategies to fight corruption and introduces approaches with sufficient definitions and examples. For example, it is recommended to understand that corruption is not only a financial bribe from which nations suffer but any condition when necessary resources are wasted, and people lose an opportunity to develop smart responses.20 Waste and resource management are integral parts of anti-corruption programs in any country.

Corruption may damage different layers of social, institutional, and political lives. The World Bank relies on the recommendations given by Rose-Ackerman to develop a two-prolonged strategy to increase honest benefits and corruption fines, meaning that people are rewarded due to their fair treatment to business operations and punished in case they use unfair methods of work.21 As one of the possible strategies, it is offered to pay special attention to the wages of civil servants.

When the work of these people is underpaid, they become less motivated and find new incentives to earn more, even if they have to corrupt or choose other unofficial ways. There is a relation between the level of wages and the cases of corruption in developing countries.22 People do not want to lose an opportunity and earn more even if they realize that punishment can be serious. Some may think that in developing countries, there is a higher chance of corruption because of the desire to earn and have a lot of money. Developed countries are also under threat of being corrupted because there is always a temptation to earn more than it is at the moment.

At the beginning of the 21st century, the World Bank began the creation of new guidelines on how to prevent and combat fraud and corruption in financial projects. Certain improvements and amendments took place during the last ten years. At this moment, there are guidelines for clear purposes and general principles. Corruption is defined as a practice of “offering, giving, receiving or soliciting, directly or indirectly, of anything of value to influence improperly the actions of another party”.23

In addition to this type of practices, policy-makers introduce obstructive practices (when falsification of evidence occurs), collusive practices (when several parties are guided by common improper purposes), coercive practices (when direct or indirect harm is made to a party or its property), and fraudulent practices (when intentional or unintentional misrepresentation prevents from achieving financial benefits).24 There are specially trained people and departments that focus on investigating each case and determining the causes of corruption.

The World Bank is also responsible for making decisions about punishment for parties whose fault is proved. One of the most frequent outcomes is the right to sanction a person, an organization, or an entire country. To prevent such results, the World Bank aims to prevent fraud and corruption and follow several rules and regulations. The creation of a transparent budget process (New Zealand is one of the most successful examples) is the solution offered by the World Bank.25

When people observe that the government develops various mechanisms to meet their needs and follow the public interest, openness, and transparency of processes lead to fewer concerns and less abuse. In countries where citizens can cooperate with the government, understand and support their activities, and participate in the discussion of political, economic, and social issues, corruption may be the least problem. However, this type of democracy and the lack of governmental control may be characterized by other unpredictable problems and outcomes. Therefore, the role of the World Bank in corruption control is integral for governments and citizens, as well as for countries in general.

Legal Frameworks to Deal with Corruption

There are many ways and methods to deal with corruption, and each country has to focus on its resources, people, and traditions to make the best choices. Regardless of the existing varieties, there is one common step for any nation to take – the creation of a legal framework for corruption control. The World Bank recommends the establishment of international conventions as a key element in the work of governments.26

At the end of the 1990s, the OECD Anti-Bribery Convention was offered and signed to reduce political corruption and control crimes in developing countries. At the beginning of the 2000s, the UN Convention Against Corruption (UNCAC) was approved by more than 100 countries as “a global framework involving developed and developing nations” that covers such subjects as “domestic and foreign corruption, extortion, preventive measures, anti-money laundering provisions, conflict of interest laws, means to recover illicit funds deposited by officials in offshore banks”.27 Although it is hard for many countries and their government representatives to stay honest to their business partners and civilians, it is necessary to continue making attempts to stop corruption.

The UK is one of the developed countries where corruption does not represent a serious problem for the government and citizens due to some high ethical standards that are promoted in public services and society. The UK Bribery Act was signed in 2010 and became the main framework in terms of which liability for corruption is established on any person anywhere in the world. The authors of this law give clear definitions of when bribery occurs and who may be blamed for it.

The most frequent explanation of bribery and corruption is as follows, “a person offers, promises or gives a financial or another advantage to another person” with an intent to obtain some business or personal advantage.28 As soon as guilty is proved, a person is punished by the established standards. In the majority of cases, an offender may be imprisoned for no more than 12 months or no more than 10 years (regarding the nature of the crime), assigned to a fine (financial or social), or both.29 To predict corruption, UK agencies aim at developing new fighting methods regularly.

Being one of the most successful developed countries in its intentions to predict corruption, the UK becomes a good example for many developing countries where financial crimes occur. For a long period, India was a country with poor governance and billions of dollars wasted in vain. 2018 was the year when certain improvements were made, including the amendments in the Prevention of Corruption Act (POCA), 1988 to check the cases of political grafts.30

The developers of the Act relied on the framework offered by the US anti-bribery law and promoted a possibility to blame both individuals and corporations for paying bribes with undue advantage (not just some economic benefits). The existing law identifies authorities that take responsibility for analyzing each case of bribery. There are the Anti-Corruption Bureau (ACB), the Central Bureau of Investigation (CBI), and the Central Vigilance Commission (CVC). In addition to them, the Serious Fraud Investigation Office (SFIO) representatives can join any investigation anytime to strengthen a working process and discover new perspectives of a case. There are all chances for India to control dishonesty and fraud in business and support development.

The examples of both the UK and India prove that governments continue improving their economic, political, and social conditions by providing new legal frameworks and legislation. Development depends on the level of control and the discovery of new sources and revenues. When corruption becomes an ordinary practice in business affairs, a country can hardly achieve positive results and stay competitive at the international level.

The evaluation of the current situation with anti-corruption campaigns and the role of the World Bank shows that developed and developing countries have equal opportunities to use legislation and international conventions as the main anti-corruption instruments to prevent crimes, enforce the law, define penalties, and asset recovery. Corruption may have different forms, and governments should be ready to recognize it, make people aware of conditions and consequences, and offer guarantees which promote a safer and more stable future.

Country Development without Corruption

When new legislation and laws are introduced in developed and developing countries, it is necessary to understand how these steps can contribute to their overall development in the future. For example, for India, anti-corruption campaigns result in the establishment of new trade relationships with different countries, including the already developed UK. The expansion of investments opens new opportunities for the government to stabilize it is Gross Domestic Product (GDP) value. The Indian bureaucratic machine still exists, but control over it has been improved, promoting guarantees for new investors. The UK, in its turn, can get access to Indian resources and revenues and expand services and industries.

Economic development in both countries is characterized by the arrangement of new bilateral trade agreements to import cheap textile, petroleum, leather, and jewelry from India and equipment, electronics, silver, and beverages from the UK. According to the World Bank’s research, corruption in the economic sector cannot be removed completely. Therefore, it is expected to promote macroeconomic stability and foreign direct investments through the discussion of new strategies, restrictions, and penalties in case the actions of one party have the characteristics of bribery, theft, or other associated crime. Although the World Bank cannot directly address corruption, annual reports, reviews, and conventions draw enough attention to this problem and assess costs.

The connection between development, the World Bank, and both developed and developing countries can also be traced through the recent changes in the education system. As soon as poor people stop suffering from corruption and obtain access to fair and stable opportunities, they may focus on their personal and professional development. Business relationships between India, the UK, and other countries show that the exchange of experience and knowledge about traditions and cultures influence further success and enhancement. Education should be available to all people, regardless of their incomes, statuses, and family histories.

Anti-corruption society is a solid background for the creation of a new (or, at least, improved) system of education. In addition to the principles of efficiency and transparency, people can benefit from promoted education and training programs that can “enable them to meet the requirements for the correct, honorable and proper performance of public functions” and “enhance their awareness of the risks of corruption inherent in the performance of their functions”.31 In the majority of cases, anti-corruption strategies work to improve the level of knowledge and develop several professional skills.

The World Bank’s anti-corruption frameworks also promote linkage between developed and developing countries. India is a country that is characterized by high respect for its past, traditions, and customs. The UK is a country with a strong belief in the Queen and her role in society. On the one hand, there are not many things in common between these two countries, and many efforts are required to stabilize these relationships.

On the other hand, anti-corruption motives unite two different nations, and the World Bank offers a basis for this cooperation. The UN Convention and communication at different levels contribute to the development of both countries from economic, political, and social perspectives. Anti-corruption measures strengthen business and behavioral forces and help to discover new partners within the World Bank.32 As a result, developing countries that suffer from fragile control and conflicts may identify additional international resources and combat corruption. In this case, the UK may succeed in helping other poorer countries and pioneering its standards, rules, and recommendations, and India can be recognized in the global arena as a reliable and flexible partner.

Despite the already made intentions to reduce the level of poverty in India, many citizens still cannot allow themselves to live in comfort and prosperity. The World Bank and its intentions to remove poverty turn out to be a perfect solution for the country and its goals for development and growth.

The UK is a regular partner of the World Bank, and their cooperation results in the creation of new international policies to prevent conflicts, reduce corruption, and improve social, healthcare, and education services. The World Bank has already proved that its goals to help poor countries may have different forms, and the UK contributes to a better understanding of how Indian citizens can have access to clean water, stable wages, working conditions, and education. Sustainable development around the entire world may open new opportunities for the UK and discover additional methods to fight against corruption, poverty, and dishonesty.

Conclusion

In general, the modern world has already achieved some positive results and discovered millions of opportunities on how to support sustainable development. It is always necessary to remember that new threats and challenges may appear without any reason. The presence of such organizations as the World Bank cannot be ignored by developing and developed countries. Corruption is a serious problem in development with many legal, institutional, and social questions being raised.

The operation of law, the creation of new policies, and cooperation among countries influence the goals of development. The World Bank aims at reducing poverty, and corruption is one of the causes of this condition in many developing countries. It is not enough to create laws and make sure people and corporations follow them. It is obligatory to involve countries with its governments and citizens in discussions to identify drawbacks and search for appropriate solutions. Transparency, honesty, and control in social, economic, and political relationships is a significant step forward for such a country as India, and support of the UK serves as evidence of the worth of the World Bank and its participation in international affairs.

Bibliography

The Bribery Act 2010 c. 23.

The Criminal Law of the People’s Republic of China (Criminal Code) 2015.

The Foreign Corrupt Practices Act of 1977, 15 U.S.C. § 78dd-1.

Hunja R, ‘Here Are 10 Ways to Fight Corruption’ . Web.

Lopez-Claros A, ‘Six Strategies to Fight Corruption’. Web.

The Prevention of Corruption Act 1988 No. 49.

Riar, S, ‘’ (The Anticorruption Blog. 2018). Web.

United Nations, ‘’ (United Nations Office on Drugs and Crime, 2004). Web.

United Nations and the Rule of Law, ‘World Bank’ (United Nations, 2018). Web.

The World Bank, ‘About the World Bank’ (The World Bank, 2018). Web.

The World Bank, ‘’ (The World Bank. 2018) Web.

The World Bank, ‘ (The World Bank, 2018), Web.

World Bank Group, ‘Guidelines on Prevention and Combating Fraud and Corruption in Projects Financed by IBRID Loans and IDA Credits and Grants’ (World Bank Group, 2016). Web.

World Bank Group, ‘’ (International Corruption Hunters Alliance, 2018) . Web.

World Bank Group, ‘World Development Report 2019: The Changing Nature of Work’ (International Bank for Reconstruction and Development, 2019. Web.

World Bank Group, ‘World Development Report: Governance and the Law’ (International Bank for Reconstruction and Development, 2017). Web.

Footnotes

  1. The World Bank, ‘Combating Corruption’ (The World Bank). Web.
  2. United Nations and the Rule of Law, ‘World Bank’ (United Nations, 2018) . Web.
  3. The World Bank, ‘About the World Bank’ (The World Bank, 2018). Web.
  4. The World Bank, ‘What We Do’ (The World Bank, 2018). Web.
  5. Ibid.
  6. Ibid.
  7. World Bank Group, ‘World Development Report: Governance and the Law’ (International Bank for Reconstruction and Development, 2017). Web.
  8. World Bank Group, ‘World Development Report: Governance and the Law’ (International Bank for Reconstruction and Development, 2017).
  9. World Bank Group, ‘World Development Report 2019: The Changing Nature of Work’ (International Bank for Reconstruction and Development, 2019. Web.
  10. The World Bank, ‘Combating Corruption’ (The World Bank, 2018). Web.
  11. The Foreign Corrupt Practices Act of 1977, 15 U.S.C. § 78dd-1.
  12. The Bribery Act 2010 c. 23.
  13. The Criminal Law of the People’s Republic of China (Criminal Code) 2015.
  14. The Prevention of Corruption Act 1988 No. 49.
  15. United Nations, ‘United Nations Convention against Corruption’ (United Nations Office on Drugs and Crime, 2004). Web.
  16. World Bank Group, ‘International Corruption Hunters Alliance 2018: Coalitions Against Corruption’ (International Corruption Hunters Alliance, 2018). Web.
  17. The Bribery Act 2010 c. 23.
  18. The Foreign Corrupt Practices Act of 1977, 15 U.S.C. § 78dd-1.
  19. Robert Hunja, ‘Here Are 10 Ways to Fight Corruption’ (The World Bank, 2015). Web.
  20. Augusto Lopez-Claros, ‘Six Strategies to Fight Corruption’ (The World Bank, 2014). Web.
  21. Ibid.
  22. World Bank Group, ‘Guidelines on Prevention and Combating Fraud and Corruption in Projects Financed by IBRID Loans and IDA Credits and Grants’ (World Bank Group, 2016) . Web.
  23. Ibid.
  24. Augusto Lopez-Claros, ‘Six Strategies to Fight Corruption’
  25. Ibid.
  26. Augusto Lopez-Claros, ‘Six Strategies to Fight Corruption’
  27. The Bribery Act 2010 c. 23
  28. Ibid.
  29. Riar, S, ‘India’s New Anticorruption Law Casts Wider Net’ (The Anticorruption Blog, 2018). Web.
  30. United Nations, ‘United Nations Convention against Corruption’ (United Nations Office on Drugs and Crime, 2004). Web.
  31. Robert Hunja, ‘Here Are 10 Ways to Fight Corruption’ (The World Bank, 2015). Web.
This essay on The World Bank’s Perspective: Law and Development was written and submitted by your fellow student. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly.
Removal Request
If you are the copyright owner of this paper and no longer wish to have your work published on IvyPanda.
Request the removal

Need a custom Essay sample written from scratch by
professional specifically for you?

Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar
Writer online avatar

certified writers online

GET WRITING HELP
Cite This paper

Select a referencing style:

Reference

IvyPanda. (2020, December 16). The World Bank’s Perspective: Law and Development. Retrieved from https://ivypanda.com/essays/the-world-banks-perspective-law-and-development/

Work Cited

"The World Bank’s Perspective: Law and Development." IvyPanda, 16 Dec. 2020, ivypanda.com/essays/the-world-banks-perspective-law-and-development/.

1. IvyPanda. "The World Bank’s Perspective: Law and Development." December 16, 2020. https://ivypanda.com/essays/the-world-banks-perspective-law-and-development/.


Bibliography


IvyPanda. "The World Bank’s Perspective: Law and Development." December 16, 2020. https://ivypanda.com/essays/the-world-banks-perspective-law-and-development/.

References

IvyPanda. 2020. "The World Bank’s Perspective: Law and Development." December 16, 2020. https://ivypanda.com/essays/the-world-banks-perspective-law-and-development/.

References

IvyPanda. (2020) 'The World Bank’s Perspective: Law and Development'. 16 December.

More related papers