CSR Crystallization in the Financial System: the World Bank Model

Georgiana-Loredana Frecea ()
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Georgiana-Loredana Frecea: The Bucharest University of Economic Studies Economics and International Affairs Doctoral School

Ovidius University Annals, Economic Sciences Series, 2015, vol. XV, issue 2, 26-31

Abstract: The global financial system is marked by a series of destabilising trends caused by the effects of corporate irresponsibility during the recent years, that lead to the diffusion of global crises. The role of international financial institutions to strenghten and to promote the principles of social responsibility, as well as the role to develop transparent CSR reporting, can be best highlighted by the World Bank. The purpose of this article is to outline the main directions in the field of corporate social responsibility in the financial system, based on the strategy adopted by the World Bank. First of all, there will be investigated the institutional premises of the emergence and development of CSR processes in the financial system and the correlations between CSR and macroeconomic progress. It will continue with a literature review of CSR models that are included in the 2015 World Bank Global Reporting Initiative (GRI) Index.

Keywords: corporate social responsibility; World Bank; financial system (search for similar items in EconPapers)
JEL-codes: M14 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xv:y:2015:i:2:p:26-31

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