scholarly journals Economic crisis impact on international financial institutions: The necessity for reforms

2013 ◽  
Vol 65 (2) ◽  
pp. 160-184
Author(s):  
Pero Petrovic ◽  
Zeljko Jovic
Keyword(s):  
Economic Crisis ◽  
World Bank ◽  
International Monetary Fund ◽  
Financial Institutions ◽  
World Bank Group ◽  
International Financial Institutions ◽  
The World Bank ◽  
The World ◽  
Bank Group ◽  
The International Monetary Fund

The emergence and deepening of the global economic crisis is reflected in large part on the functioning of international financial institutions and their current structure. The long-term financial crisis has placed demands for decisive reform moves in the functioning and structure of the IMF, the World Bank Group and other global and regional financial institutions. This means that so far, the results of their policies have been inadequate and that their role is subject to critical observation finding an efficient performance of financial markets. The crisis has imposed the need to reform international financial institutions and the new global financial architecture. Changes in structure and their functioning should lead to the global economic stability. Members of the Euro zone are faced with a new attitude towards the international financial institutions and the International Monetary Fund, in particular. The proclaimed missions of the International Monetary Fund and the World Bank are clearly separated in theory, but with the passing of time, their activities have become increasingly intertwined, so that they often include a name - international financial institutions.

scholarly journals The Effects of Export Expansion Policy in Poland in the Context of Recommendations of Global Organizations

2019 ◽  
Vol 22 (2) ◽  
pp. 69-85
Author(s):  
Zofia Wysokińska
Keyword(s):  
World Bank ◽  
International Monetary Fund ◽  
World Bank Group ◽  
Global Organizations ◽  
Analysis And Evaluation ◽  
The World Bank ◽  
Export Expansion ◽  
The World ◽  
Bank Group ◽  
The International Monetary Fund

The aim of this paper is to present the results of an analysis and evaluation of the implementation of one of the tasks of the Strategy for Responsible Development (SRD) until 2020 (with a perspective up to 2030), adopted in Poland, which should increase Poland’s foreign expansion. The paper attempts to present these results in the context of diagnoses, forecasts and recommendations (developed by experts of global organizations) regarding macroeconomic policy directions for the coming years recommended for member countries of such organizations as the International Monetary Fund, the World Bank Group, the OECD and UNCTAD/UN.

scholarly journals Accumulation by Any Means: Neoliberalisation and Environment in Post-Communist Europe

1970 ◽  
Vol 4 (1) ◽  
Author(s):  
Frederick Peters
Keyword(s):  
World Bank ◽  
International Monetary Fund ◽  
Financial Institutions ◽  
Transition Period ◽  
International Financial Institutions ◽  
Strategic Partnerships ◽  
Baltic Region ◽  
The World Bank ◽  
The World ◽  
The Baltic

This paper explores water services restructuring in the post-communist Europe. The cases of the cities of St Petersburg, Russia and Tallinn, Estonia serve to trace changes in tone and timbre over the course of the post-communist transition to a market based economy. This paper is divided into two sections: we begin by placing the European Bank of Reconstruction and Development (EBRD) in the context of the World Bank and International Monetary Fund–the International Financial Institutions significantly involved with infrastructure rebuilding. Section Two presents a brief look at specific cases of municipal water restructuring in the Baltic Region in postcommunist transition period, 1991 – 2006, brokered and funded in part by EBRD money. Tracing investments and the strategic partnerships formed in the region by the EBRD sheds light onto the development of IFI capacity and strategy since the early 1990s. The politics behind the notion described in shorthand with Harvey’s reworking of the Marxian ‘Primitive Accumulation’ is crucial to understanding the dynamics and trends often apparent in water infrastructure restructuring.

scholarly journals Human Rights and Financial Institutions: Pinning the Responsibility

2013 ◽  
pp. 116-128
Author(s):  
Nidhi Modani
Keyword(s):  
Human Rights ◽  
World Bank ◽  
Financial Institutions ◽  
Developing Nations ◽  
Special Focus ◽  
International Financial Institutions ◽  
Human Right ◽  
The World Bank ◽  
The World ◽  
The International Monetary Fund

This paper is a study of the possible human right obligations of international financial institutions. As financial institutions have not been looked upon as agencies influencing or influenced by human rights, this study becomes significant. The study is limited to international financial institutions, with a special focus on the World Bank (hereinafter ‘Bank’) and the International Monetary Fund (hereinafter ‘Fund’ or ‘IMF’). 2 Further, there is a special focus on developing nations.3

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.

The World Bank, the Monetary Fund, and Poverty

1994 ◽  
Vol 24 (3) ◽  
pp. 567-578 ◽  
Author(s):  
Horst Brand
Keyword(s):  
Developing Countries ◽  
Financial Markets ◽  
Interest Rates ◽  
World Bank ◽  
Financial Institutions ◽  
Debt Crisis ◽  
International Financial Institutions ◽  
The World Bank ◽  
The World ◽  
The International Monetary Fund

The debt crisis into which heavy borrowing, steeply rising interest rates, and a worldwide recession had plunged a number of developing countries in the late 1970s and 1980s was alleviated largely by policies and conditionalities imposed by the International Monetary Fund and the World Bank. These policies and conditions were meant to strengthen the export and financial markets of those countries, stabilize their currencies, and reduce the reach of their governments in their economies. However, they contributed to deepening poverty and structural crises, as the reports and data published by the international financial institutions themselves attest.

Unveiling the Theoretical Mistakes in the World Bank Formation and its Implication on Survival of Africa Monetary Union

2019 ◽  
Vol 10 (1) ◽  
pp. 119-124
Author(s):  
Olatunji Abdul Shobande ◽  
Kingsley Chinonso Mark
Keyword(s):  
World Bank ◽  
Monetary Union ◽  
Political Interest ◽  
World Bank Group ◽  
Policy Makers ◽  
The World Bank ◽  
The World ◽  
Bank Group ◽  
The Stability ◽  
Developed Nations

Abstract The quest for urgent solution to resolve the world liquidity problem has continued to generate enthusiastic debates among political economists, policy makers and the academia. The argument has focused on whether the World Bank Group was established to enhance the stability of international financial system or meant to enrich the developed nations. This study argues that the existing political interest of the World Bank Group in Africa may serve as lesson learned to other ambitious African Monetary Union.

Sign in / Sign up

Export Citation Format

Share Document