Spring Meetings

Panelists shared their experiences and work on corruption, and discussed how new tools and technologies, such as big data and artificial intelligence, can be used to understand and tackle corruption. Georgieva opened the discussion by emphasizing the role of preventative systems, including strong institutions, to ensure transparency, accountability, and the effective implementation of technological solutions.

Key Points:

• Information sharing. Mungiu-Pippidi noted that awareness about corruption has increased tremendously over the last two decades. Segnini noted that there are global networks in place today that facilitate investigative work on corruption, and that journalists have a role to play in explaining to ordinary citizens how exactly they are affected by corruption. White emphasized the need for more open data sources. Madonsela agreed and said that the ability to track financial flows is critical.
  
  
• Policy solutions. Mungiu-Pippidi, White highlighted that solutions must be country specific but underscored the criticality of having competitive procurement practices in place. Madonsela underlined the link between having a strong system of social justice and successfully fighting corruption, and highlighted the importance of (i) strengthening democratic literacy; and (ii) rehabilitating institutions previously devastated by corruption.
  
  
• Private sector responsibility. Solmssen noted that corruption may generate fast contracts and profits, but erodes profit-margins over time. He also underlined the role of the private sector in tackling corruption, as being “in the room when the hand comes out”. Solmssen, White emphasized that firms within the same industries must stand together against corruption. However, Solmseen noted the difficulty in getting competitors to cooperate, and encouraged the World Bank to facilitate this sort of dialogue.
  
  
• Contribution of technology. White highlighted that technology has improved our ability to observe corruption, but that serious challenges remain. A first step in the right direction is to digitalize organizational practices and improve data literacy. The main impediment to harnessing the benefits of technology is excessive bureaucracy which hinders effective implementation of technological solutions.

Quotes:

“Every penny wasted on corruption erodes trust in institutions” Kristalina Georgieva