scholarly journals Book Review: Biplab Dasgupta. Structural Adjustment Global Trade and the New Political Economy of Development. New Delhi. Sage Publications

1998 ◽  
Vol 3 (2) ◽  
pp. 155-156
Author(s):  
Mir Annice Mahmood
Keyword(s):  
Political Economy ◽  
World Bank ◽  
Structural Adjustment ◽  
New Delhi ◽  
International Financial Institutions ◽  
The Core ◽  
The World Bank ◽  
Political Economy Of Development ◽  
The International Monetary Fund

The author has written a very topical book the relevance of which cannot be understated. At the core of the book the author discusses the concept of the new political economy of development which forms the theoretical underpinnings that lie behind the structural adjustment/ stabilisation programmes of the international financial institutions such as the World Bank and the International Monetary Fund.

From Prebendalism to Predation: the Political Economy of Decline in Nigeria

1996 ◽  
Vol 34 (1) ◽  
pp. 79-103 ◽  
Author(s):  
Peter Lewis
Keyword(s):  
Political Economy ◽  
World Bank ◽  
Structural Adjustment ◽  
The Political ◽  
Adjustment Programme ◽  
The World Bank ◽  
Early Results ◽  
The World ◽  
Democratic Rule ◽  
The International Monetary Fund

Upon taking power in August 1985, General Ibrahim Babangida promised a decisive course of economic and political change for Nigeria. Alongside a phased transition to democratic rule, the new President outlined far-reaching reforms intended to alleviate major distortions in the economy, to resolve a lingering impasse with external creditors, and to reduce a mounting burden of debt. Within a year, a comprehensive structural adjustment programme (SAP) was launched, incorporating key policies advocated by the World Bank and the International Monetary Fund (IMF), and yielding significant early results in stabilising the economy and arresting decline.

Neoliberalism, Genre, and “The Tragedy of the Commons”

PMLA ◽  
2012 ◽  
Vol 127 (3) ◽  
pp. 593-599 ◽  
Author(s):  
Rob Nixon
Keyword(s):  
World Bank ◽  
Structural Adjustment ◽  
Tragedy Of The Commons ◽  
Think Tanks ◽  
Policy Makers ◽  
The World Bank ◽  
Individual Good ◽  
The Commons ◽  
The Individual ◽  
The International Monetary Fund

In december 1968 the journal science published “the tragedy of the commons,” a slender tract by the ecologist and geneticist garrett Hardin that became one of the twentieth century's most influential essays. Hardin's thinking resonated in particular with policy makers at the International Monetary Fund, at the World Bank, and at conservative think tanks and kindred neoliberal institutions advocating so-called trickle-down economics, structural adjustment, austerity measures, government shrinkage, and the privatization of resources. Although Hardin's paramount, Malthusian concern was with “overbreeding,” his general critique of the commons has had a far more lasting impact. He memorably encapsulated that critique in a parable that represented the commons as unprofitable and unsustainable, inimical to both the collective and the individual good.1 According to this brief parable, a herdsman faced with the temptations of a common pasture will instinctively overload it with his livestock. As each greed-driven individual strives to maximize the resource for personal gain, the commons collapses to the detriment of all. Together, Hardin's pithy essay title and succinct parable have helped vindicate a neoliberal rescue narrative, whereby privatization through enclosure, dispossession, and resource capture is deemed necessary for averting tragedy.

Adjustment with Growth: a Fragile Consensus

1988 ◽  
Vol 26 (2) ◽  
pp. 179-210 ◽  
Author(s):  
John Ravenhill
Keyword(s):  
World Bank ◽  
Structural Adjustment ◽  
External Environment ◽  
Academic Community ◽  
Financial Resources ◽  
The World Bank ◽  
The World ◽  
Policy Measures ◽  
The International Monetary Fund ◽  
Intense Debate

Six years of intense debate have produced a measure of agreement on a solution for Africa's malaise. This is captured by the latest catchphrase of the International Monetary Fund and the World Bank, ‘Adjustment with Growth’, which implicitly acknowledge past errors by African governments – or, minimally, that a continuation of previous policies is no longer tenable in a changed external environment. An emphasis on ‘growth’ recognises that ‘adjustment’ must encompass more than ‘stabilisation’, that the continent needs additional externally-provided financial resources on concessional terms if import strangulation is not to exacerbate the downward economic spiral in which many countries are currently trapped. This fragile consensus is facing its first serious practical test as the World Bank attempts to extend its Structural Adjustment Lending programme in Africa. Clearly, significant differences remain between the attitudes of African governments and external donors, and within the academic community, on the sources of the continent's problems and on the policy measures that are needed to counteract them.

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

Decentralization in One Valley

2019 ◽  
pp. 21-49
Author(s):  
Amy C. Offner
Keyword(s):  
Political Economy ◽  
Structural Adjustment ◽  
Western Hemisphere ◽  
Weak States ◽  
The Great Depression ◽  
Structural Adjustment Programs ◽  
The World Bank ◽  
Form Of Government ◽  
International Authority ◽  
The International Monetary Fund

This chapter talks about decentralization, which was in fact an enduring and characteristic form of government in the Americas by the time of the Great Depression. It was reimagined and redeployed twice during the subsequent years, first as a developmentalist prescription to expand the responsibilities of weak states, and later as an instrument to break down established state functions. During the 1980s, Colombian economist Eduardo Wiesner had served as the Western Hemisphere director for the International Monetary Fund (IMF), pushing through structural adjustment programs throughout the region. By the 1990s, he was an advisor to the World Bank and an international authority on state decentralization. The power and example of decentralized corporations have reordered the political economy of the region and the very terms in which political economy was discussed.

The Real World Heritage Conservation and Development

2002 ◽  
Vol 24 (3) ◽  
pp. 50-51
Author(s):  
Rob Winthrop
Keyword(s):  
International Development ◽  
World Bank ◽  
Development Policy ◽  
Structural Adjustment ◽  
Heritage Conservation ◽  
The World Bank ◽  
The World ◽  
Neoliberal Economics ◽  
Fiscal Austerity ◽  
The International Monetary Fund

This is a troubled time for development policy, and for the institutions that define it. The World Bank, the International Monetary Fund, and the World Trade Organization have been subjected to an unprecedented barrage of criticism. Since the disastrous 1999 WTO meeting in Seattle, the conspicuous failures of development policy—structural adjustment, the Asian financial crisis, and the unraveling of the post-Soviet economies—have become a matter of public debate. Critics of development have directed much of their fire at the assumptions of neoliberal economics, which prescribes fiscal austerity, monetary stability, trade liberalization, and a minimalist role for government. But it is less often recognized that development economics is in the midst of its own debate, which in tandem with the voices of outside critics may portend interesting changes in the practice of institutions such as the World Bank. Through such debates, and the innovative programs they may engender, anthropologists may find new intellectual and practical connections with the field of international development.

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 Wpływ międzynarodowych instytucji finansowych na sytuację gospodarczą krajów najsłabiej rozwiniętych

2019 ◽  
Vol 19(34) (3) ◽  
pp. 57-66
Author(s):  
Jakub Kraciuk
Keyword(s):  
World Bank ◽  
Developed Countries ◽  
Sub Saharan Africa ◽  
International Financial Institutions ◽  
Least Developed Countries ◽  
The World Bank ◽  
Per Capita ◽  
Sub Saharan ◽  
The Impact ◽  
The International Monetary Fund

The aim of the study was to show the impact of the activities of the International Monetary Fund and the World Bank on the economic situation of the least developed countries in sub-Saharan Africa. It was found that the operation of these organizations in accordance with the principles of the Washington consensus did not bring the expected results, and the credit aid of IMF and World Bank increased debt, but did not contribute to a significant GDP growth per capita in the analyzed countries. Therefore, it is necessary to change the rules of operation of international financial institutions towards least developed countries. The proposed adjustment programs are to generate economic growth, which will be subordinated to the needs of societies, and the choice of economic and social policy options should be adapted to the conditions of a given country.

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