Congressional Testimony
Capital Loss and Corruption: The Example of Nigeria -- Testimony before the House Financial Services Committee
5/19/09
CGD visiting fellow Ruhu Ribadu testifies before the House Financial Services Committee about the effects of corruption on democracy, global markets, and the poor in developing countries. He suggests how the United States could help put an end to corrupt practices.
Related Publications
- Getting the Focus Right: U.S. Leadership in the Fight against Global Corruption (White House and the World Policy Brief)
- Which Countries Make the FY2009 Corruption Cut? - MCA Monitor
- Putting the Power of Transparency in Context: Information's Role in Reducing Corruption in Uganda's Education Sector - Working Paper 136
- Corruption: Myths & Realities in a Developing-Country Context
- Tackling Health Care Corruption and Governance Woes in Developing Countries
From Ribadu's testimony:
The global financial crisis has made nothing so clear as the fact that the global economy is now highly integrated and interconnected. What affects one corner of the globe will reach to all other corners, and the lack of proper regulation and oversight in one place can undermine stability far away.
Corruption has the same effect on global markets, although it is not often thought of in those terms. So just as it is the purpose of this hearing to explore lines of responsibility in the global financial crisis, so too should it be to better understand the global responsibility to end corrupt practices.
