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Higher education institutions play a deciding factor in the development of future leadership and national social cohesion. And here higher education leaders play a critical role. They speak publicly about the ethics of their institution; they explain the details of how their institution manages ethical transgressions on the part of administrators, faculty and students; and they are the first to admit when there has been a failure. Leaders of ethical institutions today can be held to account in a way that is unprecedented.

A developmental university must have well-crafted research ethical standards anchored in principles of democracy, social justice and human rights. Research ethical standards are important as they provide guidelines for researchers to ensure that specific values like integrity, transparency, respect, objectivity and accountability are strictly observed; they generate confidence in and support for research among both domestic and international research communities; and they help establish trust between researchers and research participants.

The spate of financial scandals that are rocking Chile have stirred a wholesome debate in the country on the importance of ethics in the teaching of economics. The Pontifical Catholic University of Chile’s economics and administration faculty has been under the spotlight since three of its former students, previously hailed as 'star students', were prosecuted and jailed for a week pending trial for tax fraud and other financial crimes