International institutions

2009 ◽  
Vol 9 (4) ◽  
pp. 311-321
Author(s):  
Karl Socher
Keyword(s):  
World Bank ◽  
International Institutions ◽  
Austrian Economics ◽  
Market Failures ◽  
International Public Goods ◽  
The World Bank ◽  
Role Of The State ◽  
The World ◽  
The International Monetary Fund

Austrian Economics tries to minimize the role of the state. International institutions, like the International Monetary Fund (IMF) and the World Bank (WB), seen under this perspective, often try to fulfil functions of states which are not necessary, for instance, fixing exchange rates or redistribute income. They should concentrate on correcting market failures, like international public goods, when they cannot be supplied by the market, or internalize externalities. But even in these cases, state failures have to be avoided. Such state failures happened especially in countries transforming from socialist to market economies and in advising these states by international institutions.

Holding Intergovernmental Institutions to Account

2003 ◽  
Vol 17 (1) ◽  
pp. 69-80 ◽  
Author(s):  
Ngaire Woods
Keyword(s):  
World Bank ◽  
International Institutions ◽  
Political Accountability ◽  
The World Bank ◽  
The World ◽  
Internal Accountability ◽  
The Right ◽  
National Governments ◽  
Political Decisions

How can governments and peoples better hold to account international economic institutions, such as the WTO, the World Bank, and the IMF? This article proposes an approach based on public accountability, advocating improvements in four areas: constitutional, political, financial, and internal accountability.The argument for more accountability is made with two caveats: more accountability is not always good–it can be distorting and costly; and, enhancing the accountability of international institutions should not justify increasing their jurisdiction for the sake of reducing the role of national governments. Constitutional accountability poses limits on how the institutions expand their activities, requiring the active consent of all members and particularly those most affected by their activities. Political accountability requires that those who make decisions in the organizations are directly answerable to all member governments and not just to the most powerful ones. The institutions' uneven record and structure of financial accountability is addressed through a model of mutual restraint. Finally, the internal accountability should ensure that technical decisions are distinguishable from political decisions. A better matching of the right kinds of accountability to the activities of the organizations would improve both their effectiveness and legitimacy.

scholarly journals BRICS Countries: Participation in the Governance Reform of the International Monetary Fund and the World Bank Group. What are the Results?

2019 ◽  
Vol 12 (3) ◽  
pp. 58-67
Author(s):  
L. N. Krasavina
Keyword(s):  
World Bank ◽  
World Bank Group ◽  
Governance Reform ◽  
Brics Countries ◽  
The World Bank ◽  
The World ◽  
Bank Group ◽  
The International Monetary Fund ◽  
The Imf

The article analyzes the BRICS countries’ participation in the management reform of the International Monetary Fund and the World Bank Group as an institutional framework of the Jamaica Monetary System (Jamaica Plan 1976). As the novelty of the study, the author considers this problem in the context of the transition from interstate regulation to global financial and economic regulation. The definition proposed by the author (broader than the term “global financial regulation”) is due to a new assessment of the financial risks. The article substantiates the participation of the BRICS countries (as well as all members of the IMF and the World Bank) in the reform and the interest in the relative stabilization of the world economy and Finance. The author grounded the assessment of the group of 20 (G20) as the initiator of this reform in the context of the global crisis and the gradual weakening of the control of the implementation of the recommendations of the summits. Based on the position of the G20 on an integrated analysis of the role of the Bretton Woods institutions in the Jamaica Plan 1976, the author gave a comparative description of the relationship of their functions and role in the functioning of the two global currency systems over 70 years. The author made conclusions about the effectiveness of the BRICS countries’ participation in the IMF and the World Bank Group governance reform regarding the increase of their share in quotas and votes, and their representation in the form of appointment of their own Executive Director to the IMF Executive Board. It has been revealed the negative impact of the transformation of the role of these institutions in the global financial and economic regulators in connection with the introduction of integrated currency supervision over the preparation and use of the sovereign currency reserves of the countries. Summing up, the author formulated proposals for further strengthening the positions of the BRICS countries in the management of the IMF and the World Bank on the basis of improving the new formula for calculating quotas introduced in 2008.

International institutions, globalization and the inequality among nations

2009 ◽  
Vol 9 (4) ◽  
pp. 323-337 ◽  
Author(s):  
Amitava Krishna Dutt ◽  
Kajal Mukhopadhyay
Keyword(s):  
World Trade Organization ◽  
World Bank ◽  
Capital Flows ◽  
World Trade ◽  
International Institutions ◽  
World Government ◽  
Gunnar Myrdal ◽  
The World Bank ◽  
The World ◽  
The International Monetary Fund

In the 1950s, Gunnar Myrdal pointed out that while inequality between regions within many economically advanced countries was falling due to the policies of national government, inequality between countries was growing, given the absence of anything resembling a world government. Since then, international institutions such as the United Nations (UN), the International Monetary Fund (IMF), the World Bank (WB) and the World Trade Organization (WTO) have grown in size and scope. This paper uses econometric techniques to argue that these institutions, by liberalizing and increasing international trade and capital flows, have not had the effect of reducing inequality across nations and may, in fact, have exacerbated it.

Theme I: Economy, Prosperity, and Social Justice

2003 ◽  
Vol 16 (4) ◽  
pp. 849-871
Author(s):  
Leopold Specht ◽  
Ratna Kapur ◽  
Balakrishnan Rajagopal ◽  
Chantal Thomas ◽  
David M. Trubek
Keyword(s):  
World Bank ◽  
International Institutions ◽  
Social Systems ◽  
The United States ◽  
Global Scale ◽  
The World Bank ◽  
Institutional Frameworks ◽  
The World ◽  
Anglo American ◽  
The International Monetary Fund

In this presentation I shall describe (i) a process of expanding the institutional frameworks of economic and social development that apply on a global scale principles found in the Anglo-American world; (ii) the reinterpretation of these institutional frameworks by ascribing to them a narrow – to a certain extent ideological – meaning which does not reflect the variety of meanings carried by those institutions in the Anglo-American world; and (iii) the undermining of sovereign decision-making by states in order to regulate economies and social systems in a manner that does not pose limitations to the expansion of the institutional framework as described above. This hegemonic programme of ‘globalization’ is at the heart of policies promoted by the United States and such international institutions as the International Monetary Fund (IMF) and the World Bank.

scholarly journals The Role of International Institutions (E.G. World Bank) In Co-Financing Public Institutions in Nigeria: Obstacles and Challenges for an Effective and Transparent Procedure.

2019 ◽  
Vol 6 (4) ◽  
pp. 577-603
Author(s):  
Lohya Ibrahim Lakai
Keyword(s):  
World Bank ◽  
International Institutions ◽  
Public Institutions ◽  
Development Bank ◽  
German Development ◽  
The World Bank ◽  
The World ◽  
African Development Bank ◽  
Paris Club

Nigeria as a state is a member of many international institutions and organizations. Nigeria has also benefited from these institutions particularly financial institutions. For example, the World Bank, International Monetary Fund (IMF) Paris club, The German Development Bank (KWF), African Development Bank, etc. through loans, grants and aid assisted the Nigerian Government in funding some projects and institutions. Despite this funding, Nigeria Institutions continues show little or no impact commensurate to the funding plunged. This work tries to discuss the role of international institutions in co-financing public institutions in Nigeria. In discussing the role of international institutions, the obstacles and challenges for an effective and transparent procedure will be considered as well as proffer solutions to them.

The New Role of the World Bank

2016 ◽  
Author(s):  
Michael Andrew Clemens ◽  
Michael R. Kremer
Keyword(s):  
World Bank ◽  
The World Bank ◽  
The World
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