Global anti-corruption efforts in recent years have achieved some notable results. The sources and consequences of corruption are now better understood, and the international community has been able to work toward addressing the problem of collective action. Despite these successes, however, private sector corruption remains widespread in many countries. Incentives are the driving force behind each company’s actions, including bribery. That is why building a business case against corruption and tackling the issue of incentives is the most effective way of combating the problem. Another key element of reducing illicit business practices is greater transparency and disclosure, which requires not just corporate action, but a broader engagement from the media, civil society, and international organizations – all of which can increase the reputational cost of corruption. Without large-scale reforms that can create such an accountable business environment, the anti-corruption gains made so far may prove elusive.
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