In the decade between the 1992 United Nations Conference on Environment and Development in Rio de Janeiro, Brazil, and the 2002 World Summit on Sustainable Development in Johannesburg, South Africa, the private sector’s influence in developing and emerging countries’ economies expanded considerably. Foreign direct investment grew rapidly and now easily eclipses official development assistance.1 The governance and regulatory domains have shifted in many developing countries; such shifts have redefined the role of states, development agencies and nongovernmental organizations and have established a greater role for business in sustainable development.2 Today, the United Nations, together with many governments and NGOs, explicitly promotes the mobilization of private-sector efficiency and creativity to help address the world’s many pressing social and ecological problems. The 2004 report of the U.N. Commission on the Private Sector and Development,Unleashing Entrepreneurship, made a number of specific recommendations for private sector activity to “make business work for the poor.”3
Although there remains some mistrust of increased private sector involvement in development, as seen in commentary from some antiglobalization activists,4 polling data from citizens worldwide indicate a more positive view. Survey data suggest that the overwhelming majority of people around the world want business to do more than just make a profit and obey the law.5 In addition, the World... To read the complete article, login or sign-up using the form below.
Become a premium subscriber today to read this and all MIT Sloan Managmeent Review articles.
Buy this article. Purchase one or more copies of this article in PDF form.
Become a premium subscriber today to read this article and the entire archive of MIT SMR articles.
Upgrade your existing subscription to premium
Sign in if you are a premium subscriber.
Do you subscribe the MIT Sloan Management Review in print? Enter the email address and password you used when ordering. Don't remember? Lookup your subscription account information
- Register for free access to recent articles and the current issue of MIT Sloan Management Review.
- Subscribe and read articles from the past three years online.
- Premium subscription give you access to the entire archive of articles.
