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#ebbf25 – Removing barriers to sustainable economic development

Augusto Lopes-Claros, Global Indicators Group director at World Bank, offered some insights about the barriers to sustainable development. One of them is corruption. A useful metric is the size of spending on GDP. One source of corruption is the tax system and privatization. Corruption distroys human prosperity in nine ways: undermines government revenue, distorts public investment projects, expands underground economy while discouraging FDI (foreign direct investments), dumping in entrepreneurship, misallocates resources, worses income distribution, creates an enviroment where building is insecure, leads to crime. There are six strategies to fight corruption (find out more here: Pay civil servants weell, create transparency and openness in goverment spending, cut red tape, eliminating subsides, establishing international conventions, technology.

In the learnshop following the keynote he also discussed about the 17 SDG of United Nations.

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