The World Bank: Explaining the Move Towards ‘Good Governance’

Abstract

Over the past few decades the way in which individual governments and multi-national institutions view corruption has changed. Anti-corruption policies and initiatives have been at the forefront of many nations policymaking and there is no doubt that a global battle to curb corruption has taken place. Laws pertaining to corruption have been enacted in greater numbers; anti-corruption and accountability committees have been established. This is especially true at the World Bank. However, ‘Good Governance’ and corruption were not even mentioned by the Bank until 1989 and yet, in the past two decades, it has become a focal point of the entire institution. How do we explain such drastic change? Furthermore, how do we explain recent direct Bank involvement in governing institutions as a result of this change? Although the movement was far-reaching and relatively recent, by looking at changes within the Bank’s lending process and attitude towards borrower governments we are able to make sense of it.