The Global Movement Against Transnational Corruption:
Watch the event here.
Corruption is a global phenomenon and one of the main impediments to sustainable development. The World Bank estimates that US $1,000 billion are paid in bribes each year worldwide. The Asian Development Bank has conducted studies that have shown that corruption can cost a country up to 17% of its GDP.
When foreign aid is diverted into private pockets, not only major infrastructure projects come to an halt.
Fake medicines get distributed, toxic waste gets dumped, shoddily built schoolhouses collapse – corruption affects the health and safety of the poorest in society. It also strikes at the heart of democracy by corroding rule of law, democratic institutions, and public trust in leaders.
The impact on the private sector is considerable as well. Corruption raises business costs, distorts competition, and represents a serious legal and reputational risk. It is estimated that corruption adds an extra financial burden of 10% or more to business costs in some parts of the world.
On February 26, the Center for the Advancement of Public Integrity (CAPI) and the Columbia Society of International Law co-hosted a panel presentation that will shed light on the global phenomenon of corruption, its impact on development, and the transnational anti-corruption movement that has been evolving over the past years as a response to the pressing challenges.
The event featured leading experts in public and private corruption:
- Matthew C. Stephenson, Professor of Law at Harvard Law School
- Steven Michaels, Counsel at Debevoise & Plimpton LLP
- Rick Messick, Former Chief Counsel of the Senate Committee on Foreign Relations
- David Hawkes (Moderator), Head of the Special Litigation Unit at the World Bank Integrity Vice Presidency
Click to learn more.
Jerome Greene Hall (Room 102B)
Columbia Law School
435 West 116th Street
New York, NY 10027
Thursday, February 26, 2015
5:30pm – 7:00pm