Economic And Social Development Of The World Bank Essay

1722 Words Jun 9th, 2015 7 Pages
Over the past two decades the World Bank has adopted a focus on ending corruption as a means of fostering economic growth in the developing world. Today, the World Bank (hereafter the Bank) has called corruption ‘the single greatest obstacle to economic and social development’ (World Bank, 2006). This has lead the Bank to incorporate concerns over creating ‘good governance’ as a means of building strong the economic and political processes to stop corruption. ‘Good governance’ is a formula for building transparent, accountable and strong institutions in government (World Bank: 1997). Yet the Bank’s founding document – the Articles of Agreement (1944) forbid it from intervening in the politics of recipient countries. As good governance is inherently linked to politics and economics, this is a contentious issue. In response, the Bank has begun to incorporate political economic analysis (PEA) in their anti-corruption strategy to better understand the potential drivers of corruption. The Agent Based Stakeholder Model (ABSM) embodies the Bank’s adaption of political economic analysis. The ABSM gathers key stakeholders in society such as politicians, members of the private sector, NGO’s and civil society to deliberate over key political issues. This would allow the Bank to observe of the domestic politics of aid-recipient countries gauged by risk and reward. Despite the adaption of PEA in the ABSM, the Bank’s current anti-corruption strategy has been criticized for…

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