02/04/20

From Global Regulation & Policy

IFCs: Providing The Rule of Law

IFCs provide the rule of law on a global scale, a vital service that both helps increase global economic activity and expands the economies of the places that need economic development the most. The seemingly endless debate over the role of IFCs in corporate and personal tax avoidance ignores these jurisdictions’ crucial role in providing the rule of law for international transactions. That’s doubly unfortunate: the rule of law is undersupplied in the world today – having more of it is better for everyone – and the rule of law is necessary for the economic growth needed to improve the lives of the poorest.