In June, Transparency International launched the 2009 edition of the Global Corruption Barometer. The Barometer explores the general public’s views of corruption and experiences of bribery around the world and for the first time this year inquires about the level of state capture and people’s willingness to pay a premium for clean corporate behavior.
One of the main findings is that corruption in and by the private sector is of growing concern to the general public. Notably, the respondents are critical of the private sector’s role in their countries’ policymaking processes: more than half of them thought that bribery was often used to shape policies and regulations in particular companies’ favor. This finding emphasizes the need for better ethics rules, both on the part of the private sector and policymakers. It also emphasizes the need for businesses and decision-makers around the world to learn and practice open and transparent advocacy rather than backroom deals.
At the same time, another interesting survey finding shows that corruption matters quite a bit to consumers. Half of those surveyed expressed a willingness to pay a premium to buy from a company that is not corrupt. That is certainly an encouraging indicator – one highlighting the value of voluntary anti-corruption initiatives among businesses and good corporate citizenship.
Published Date: July 30, 2009