Sarah Babb
- Published in print:
- 2009
- Published Online:
- March 2013
- ISBN:
- 9780226033648
- eISBN:
- 9780226033679
- Item type:
- book
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226033679.001.0001
- Subject:
- Political Science, Political Economy
The World Bank and other multilateral development banks (MDBs) carry out their mission to alleviate poverty and promote economic growth based on the advice of professional economists. But as is ...
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The World Bank and other multilateral development banks (MDBs) carry out their mission to alleviate poverty and promote economic growth based on the advice of professional economists. But as is argued in this book, these organizations have also been indelibly shaped by Washington politics, particularly by the legislative branch and its power of the purse. Tracing American influence on MDBs over three decades, this volume assesses increased congressional activism and the perpetual “selling”; of banks to Congress by the executive branch. The author contends that congressional reluctance to fund the MDBs has enhanced the influence of the United States on them by making credible America's threat to abandon the banks if its policy preferences are not followed. At a time when the United States' role in world affairs is being closely scrutinized, this book will be necessary reading for anyone interested in how American politics helps determine the fate of developing countries.Less
The World Bank and other multilateral development banks (MDBs) carry out their mission to alleviate poverty and promote economic growth based on the advice of professional economists. But as is argued in this book, these organizations have also been indelibly shaped by Washington politics, particularly by the legislative branch and its power of the purse. Tracing American influence on MDBs over three decades, this volume assesses increased congressional activism and the perpetual “selling”; of banks to Congress by the executive branch. The author contends that congressional reluctance to fund the MDBs has enhanced the influence of the United States on them by making credible America's threat to abandon the banks if its policy preferences are not followed. At a time when the United States' role in world affairs is being closely scrutinized, this book will be necessary reading for anyone interested in how American politics helps determine the fate of developing countries.
Mark T. Buntaine
- Published in print:
- 2016
- Published Online:
- June 2016
- ISBN:
- 9780190467456
- eISBN:
- 9780190467470
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190467456.003.0008
- Subject:
- Political Science, International Relations and Politics, Environmental Politics
Can the allocation of aid be made compatible with achieving good development and environmental outcomes? To this day, environmental and development aid remains largely stuck in a system that focuses ...
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Can the allocation of aid be made compatible with achieving good development and environmental outcomes? To this day, environmental and development aid remains largely stuck in a system that focuses on the approval of projects and the disbursement of funds. This book has shown that it is sometimes possible to channel or overcome these incentives and thereby give aid more effectively. There is not a uniform response to information about results across different types of projects and multilateral development banks. Information about performance must combine with incentives to be selective from donor countries, civil society groups, and recipient countries to change allocation decisions. This chapter discusses the implications of this result for the future of environmental and development assistance, including the creation of the Green Climate Fund and reforms to the allocation procedures at the multilateral development banks. Shifting focus from selectivity practiced at the level of countries to selectivity practiced within the portfolios of countries offers a way to give aid more effectively.Less
Can the allocation of aid be made compatible with achieving good development and environmental outcomes? To this day, environmental and development aid remains largely stuck in a system that focuses on the approval of projects and the disbursement of funds. This book has shown that it is sometimes possible to channel or overcome these incentives and thereby give aid more effectively. There is not a uniform response to information about results across different types of projects and multilateral development banks. Information about performance must combine with incentives to be selective from donor countries, civil society groups, and recipient countries to change allocation decisions. This chapter discusses the implications of this result for the future of environmental and development assistance, including the creation of the Green Climate Fund and reforms to the allocation procedures at the multilateral development banks. Shifting focus from selectivity practiced at the level of countries to selectivity practiced within the portfolios of countries offers a way to give aid more effectively.
- Published in print:
- 2009
- Published Online:
- March 2013
- ISBN:
- 9780226033648
- eISBN:
- 9780226033679
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226033679.003.0001
- Subject:
- Political Science, Political Economy
The World Bank is the leading member of a group of organizations that are officially in the business of realizing the motto “Our dream is a world free of poverty.” The U.S. government is the banks' ...
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The World Bank is the leading member of a group of organizations that are officially in the business of realizing the motto “Our dream is a world free of poverty.” The U.S. government is the banks' most important shareholder and has consistently been at the lead of shareholder initiatives to reform the banks over the past several decades. This book is about the role of Washington politics in forging U.S. policies toward the multilateral development banks (MDBs) over the past several decades and the role of U.S. policies in shaping the banks' ideas and activities. It also argues that the banks' ideas and activities are generated at the intersection of national politics and expert knowledge. Then, it demonstrates that U.S. administrations have learned to use the uncertainties of the congressional approval process to their advantage. Finally, an overview of the chapters included in this book is given.Less
The World Bank is the leading member of a group of organizations that are officially in the business of realizing the motto “Our dream is a world free of poverty.” The U.S. government is the banks' most important shareholder and has consistently been at the lead of shareholder initiatives to reform the banks over the past several decades. This book is about the role of Washington politics in forging U.S. policies toward the multilateral development banks (MDBs) over the past several decades and the role of U.S. policies in shaping the banks' ideas and activities. It also argues that the banks' ideas and activities are generated at the intersection of national politics and expert knowledge. Then, it demonstrates that U.S. administrations have learned to use the uncertainties of the congressional approval process to their advantage. Finally, an overview of the chapters included in this book is given.
Diane A. Desierto
- Published in print:
- 2020
- Published Online:
- February 2021
- ISBN:
- 9780198869900
- eISBN:
- 9780191912771
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198869900.003.0020
- Subject:
- Law, Company and Commercial Law, Public International Law
This chapter analyses due diligence practices of institutional lenders, such as the World Bank and other multilateral development banks, in the course of international project financing. Such due ...
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This chapter analyses due diligence practices of institutional lenders, such as the World Bank and other multilateral development banks, in the course of international project financing. Such due diligence practices include taking into account country risks, political risks, environmental risks, and social risks. The chapter lays particular focus on the Sustainability Framework of the International Finance Corporation of the World Bank Group which provides the international benchmark practices for the assessment of environmental and social risks. The chapter traces the Framework’s influence on the Equator Principles on Environmental and Social Risk Management adopted by other international private and public financial institutions for international project financing. It argues that due diligence in the area of international project finance may be headed towards possible convergence with international human rights obligations, particularly with environmental and social treaty commitments of States.Less
This chapter analyses due diligence practices of institutional lenders, such as the World Bank and other multilateral development banks, in the course of international project financing. Such due diligence practices include taking into account country risks, political risks, environmental risks, and social risks. The chapter lays particular focus on the Sustainability Framework of the International Finance Corporation of the World Bank Group which provides the international benchmark practices for the assessment of environmental and social risks. The chapter traces the Framework’s influence on the Equator Principles on Environmental and Social Risk Management adopted by other international private and public financial institutions for international project financing. It argues that due diligence in the area of international project finance may be headed towards possible convergence with international human rights obligations, particularly with environmental and social treaty commitments of States.
Mark T Buntaine
- Published in print:
- 2016
- Published Online:
- June 2016
- ISBN:
- 9780190467456
- eISBN:
- 9780190467470
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780190467456.001.0001
- Subject:
- Political Science, International Relations and Politics, Environmental Politics
International organizations do not always live up to the expectations and mandates of their member countries. One of the best examples of this gap is the environmental performance of the multilateral ...
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International organizations do not always live up to the expectations and mandates of their member countries. One of the best examples of this gap is the environmental performance of the multilateral development banks, which are tasked with allocating and managing approximately half of all development assistance worldwide. In the 1980s and 1990s, the multilateral development banks came under severe criticism for financing projects that caused extensive deforestation, polluted large urban areas, and displaced millions of people. In response to these failures, member countries established or strengthened administrative procedures, citizen complaint mechanisms, project evaluation, and strategic planning processes. These reforms were intended to close the gap between the mandates and performance of the multilateral development banks by shaping the way projects are approved. This book provides a systematic examination of whether these efforts have succeeded in aligning allocation decisions with performance. It demonstrates that reforms undertaken to increase the amount of information about performance have caused the multilateral development banks to give aid more effectively by promoting selectivity—moving toward projects with a record of success and away from projects with a record of failure for individual countries. This outcome happens when information about performance makes less successful projects harder to approve or more successful projects easier to approve. This argument is substantiated with an extensive analysis of evaluations across four multilateral development banks and two decades, together with in-depth case studies and dozens of interviews. Member countries have a number of mechanisms that allow them to manage international organizations for results.Less
International organizations do not always live up to the expectations and mandates of their member countries. One of the best examples of this gap is the environmental performance of the multilateral development banks, which are tasked with allocating and managing approximately half of all development assistance worldwide. In the 1980s and 1990s, the multilateral development banks came under severe criticism for financing projects that caused extensive deforestation, polluted large urban areas, and displaced millions of people. In response to these failures, member countries established or strengthened administrative procedures, citizen complaint mechanisms, project evaluation, and strategic planning processes. These reforms were intended to close the gap between the mandates and performance of the multilateral development banks by shaping the way projects are approved. This book provides a systematic examination of whether these efforts have succeeded in aligning allocation decisions with performance. It demonstrates that reforms undertaken to increase the amount of information about performance have caused the multilateral development banks to give aid more effectively by promoting selectivity—moving toward projects with a record of success and away from projects with a record of failure for individual countries. This outcome happens when information about performance makes less successful projects harder to approve or more successful projects easier to approve. This argument is substantiated with an extensive analysis of evaluations across four multilateral development banks and two decades, together with in-depth case studies and dozens of interviews. Member countries have a number of mechanisms that allow them to manage international organizations for results.
Otaviano Canuto, Matheus Cavallari, and Tiago Ribeiro dos Santos
- Published in print:
- 2020
- Published Online:
- November 2020
- ISBN:
- 9780198852773
- eISBN:
- 9780191887154
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198852773.003.0012
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Multilateral Development Banks (MDBs) have two financing windows, with different terms, dedicated to low- and middle-income countries. Countries are presumed to cross those windows as their income ...
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Multilateral Development Banks (MDBs) have two financing windows, with different terms, dedicated to low- and middle-income countries. Countries are presumed to cross those windows as their income per capita rises, with middle-income countries (MICs) eventually “graduating” to non-client status once they reach certain criteria. However, due to what may be called “middle-income traps,” such progression toward graduation has been limited to a small number of countries. This chapter suggests areas where support by MDBs would yield the highest results toward the “graduation” of MICs. Item 1 reviews the criteria that have been used to justify graduation, whereas item 2 approaches middle-income levels as a stage of growth and development. Finally, item 3 proposes an interface between MDBs’ support to MICs and the policy agenda to overcome middle-income traps.Less
Multilateral Development Banks (MDBs) have two financing windows, with different terms, dedicated to low- and middle-income countries. Countries are presumed to cross those windows as their income per capita rises, with middle-income countries (MICs) eventually “graduating” to non-client status once they reach certain criteria. However, due to what may be called “middle-income traps,” such progression toward graduation has been limited to a small number of countries. This chapter suggests areas where support by MDBs would yield the highest results toward the “graduation” of MICs. Item 1 reviews the criteria that have been used to justify graduation, whereas item 2 approaches middle-income levels as a stage of growth and development. Finally, item 3 proposes an interface between MDBs’ support to MICs and the policy agenda to overcome middle-income traps.
Pablo J. López and Marcelo Rougier
- Published in print:
- 2021
- Published Online:
- April 2021
- ISBN:
- 9780198861089
- eISBN:
- 9780191893056
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198861089.003.0002
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter shows that, although the Inter-American Development Bank (IADB) mandate remained unchanged over the course of over fifty years from its creation, the Bank’s lending policies in Latin ...
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This chapter shows that, although the Inter-American Development Bank (IADB) mandate remained unchanged over the course of over fifty years from its creation, the Bank’s lending policies in Latin America changed over time, consistent with the prevailing policy framework in developed countries. Unlike in other multilateral development banks (MDB) with a presence in the region—especially the World Bank—Latin American countries played a bigger role in the IADB’s decision-making process from the very moment the regional bank was created. However, donor countries, in particular the United States, enforced IADB policy guidelines, with a varying degree of conflict over the different periods. The authors establish that the institution underwent a transition phase, which began in the 1980s, marking a move away from a developmental role associated with state-led industrialization processes. The IADB became a supporter of liberalization and deregulation policies in the 1990s and then, from the 2008‒9 global crisis, played a new active role for development.Less
This chapter shows that, although the Inter-American Development Bank (IADB) mandate remained unchanged over the course of over fifty years from its creation, the Bank’s lending policies in Latin America changed over time, consistent with the prevailing policy framework in developed countries. Unlike in other multilateral development banks (MDB) with a presence in the region—especially the World Bank—Latin American countries played a bigger role in the IADB’s decision-making process from the very moment the regional bank was created. However, donor countries, in particular the United States, enforced IADB policy guidelines, with a varying degree of conflict over the different periods. The authors establish that the institution underwent a transition phase, which began in the 1980s, marking a move away from a developmental role associated with state-led industrialization processes. The IADB became a supporter of liberalization and deregulation policies in the 1990s and then, from the 2008‒9 global crisis, played a new active role for development.
Olivier De Schutter
- Published in print:
- 2018
- Published Online:
- January 2019
- ISBN:
- 9780198810445
- eISBN:
- 9780191847783
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198810445.003.0011
- Subject:
- Law, Human Rights and Immigration, Public International Law
Sovereign debt and the measures imposed on indebted nations, in conjunction with trade liberalisation under the WTO or other similar regimes have forced many countries to forego traditional food ...
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Sovereign debt and the measures imposed on indebted nations, in conjunction with trade liberalisation under the WTO or other similar regimes have forced many countries to forego traditional food security schemes, particularly through state subsidies. As a result, price fluctuations in staple commodities as well as currency fluctuations have forced poorer nations to effectively surrender their food sovereignty in favour of their multilateral trade obligations, investment obligations and debt repayment agreements with both private and public lenders, particularly through the facilitation of multilateral development banks. This chapter traces the roots of food insecurity as a result of sovereign debt-related measures, policies and effects. It does so through particular paradigms, especially through the work of pertinent UN mandates. It examines in what manner the right to food, as enshrined in the ICESCR, may be fulfilled as well as how food security can co-exist alongside trade liberalisation.Less
Sovereign debt and the measures imposed on indebted nations, in conjunction with trade liberalisation under the WTO or other similar regimes have forced many countries to forego traditional food security schemes, particularly through state subsidies. As a result, price fluctuations in staple commodities as well as currency fluctuations have forced poorer nations to effectively surrender their food sovereignty in favour of their multilateral trade obligations, investment obligations and debt repayment agreements with both private and public lenders, particularly through the facilitation of multilateral development banks. This chapter traces the roots of food insecurity as a result of sovereign debt-related measures, policies and effects. It does so through particular paradigms, especially through the work of pertinent UN mandates. It examines in what manner the right to food, as enshrined in the ICESCR, may be fulfilled as well as how food security can co-exist alongside trade liberalisation.
Judith Clifton, Daniel Díaz Fuentes, and David Howarth (eds)
- Published in print:
- 2021
- Published Online:
- April 2021
- ISBN:
- 9780198861089
- eISBN:
- 9780191893056
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780198861089.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Regional development banks (RDB) have become increasingly important in the world economy, but have also been relatively under-researched to date. This timely volume addresses this lack of attention ...
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Regional development banks (RDB) have become increasingly important in the world economy, but have also been relatively under-researched to date. This timely volume addresses this lack of attention by providing a comprehensive, comparative, and empirically informed analysis of their origins, evolution, and contemporary role in the world economy through to the second decade of the twenty-first century. The editors provide an analytical framework that includes a revised categorization of RDB by geographic operation and function. In part one, the chapter authors offer detailed analyses of the origins, evolution, and contemporary role of the major RDB, including the Inter-American Development Bank, the African Development Bank, the Asian Development Bank, the European Investment Bank, the Central American Bank, the Andean Development Corporation, the European Bank for Reconstruction and Development, and the Asian Infrastructure Investment Bank. In part two, the authors engage in comparative analyses of key topics on RDB, examining their initial design and their changing business models, their shifting role in promoting policies supported by the United States as hegemon and the private sector. The volume ends with a critical reflection on the role played by RDB to date and a strong defence of the need for these banks in an increasingly complex world economy.Less
Regional development banks (RDB) have become increasingly important in the world economy, but have also been relatively under-researched to date. This timely volume addresses this lack of attention by providing a comprehensive, comparative, and empirically informed analysis of their origins, evolution, and contemporary role in the world economy through to the second decade of the twenty-first century. The editors provide an analytical framework that includes a revised categorization of RDB by geographic operation and function. In part one, the chapter authors offer detailed analyses of the origins, evolution, and contemporary role of the major RDB, including the Inter-American Development Bank, the African Development Bank, the Asian Development Bank, the European Investment Bank, the Central American Bank, the Andean Development Corporation, the European Bank for Reconstruction and Development, and the Asian Infrastructure Investment Bank. In part two, the authors engage in comparative analyses of key topics on RDB, examining their initial design and their changing business models, their shifting role in promoting policies supported by the United States as hegemon and the private sector. The volume ends with a critical reflection on the role played by RDB to date and a strong defence of the need for these banks in an increasingly complex world economy.
Mark Pieth
- Published in print:
- 2018
- Published Online:
- December 2017
- ISBN:
- 9780190458331
- eISBN:
- 9780190458379
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780190458331.003.0018
- Subject:
- Law, Private International Law, Public International Law
This chapter discusses administrative sanctions and preventive measures that go beyond criminal law to fight corruption such as states and Multilateral Development Banks (MDBs). They have developed a ...
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This chapter discusses administrative sanctions and preventive measures that go beyond criminal law to fight corruption such as states and Multilateral Development Banks (MDBs). They have developed a set of regulatory sanctions more directly aiming at the prevention of abuses by companies and individuals and protecting the interests of their respective institutions. Domestic procurement rules as well as the regulations developed by MDBs foresee cancellation of loans in the face of concrete misbehavior. Domestic agencies would also be able to stay subsidies or export insurance. Furthermore, domestic agencies and MDBs have introduced detailed sanctions procedures allowing debarment of corporations and individuals from future participation in procurement or from eligibility for export insurance. The debarment procedures established by MDBs may be regarded as a worldwide example of such administrative sanctioning, and one of the largest is the World Bank.Less
This chapter discusses administrative sanctions and preventive measures that go beyond criminal law to fight corruption such as states and Multilateral Development Banks (MDBs). They have developed a set of regulatory sanctions more directly aiming at the prevention of abuses by companies and individuals and protecting the interests of their respective institutions. Domestic procurement rules as well as the regulations developed by MDBs foresee cancellation of loans in the face of concrete misbehavior. Domestic agencies would also be able to stay subsidies or export insurance. Furthermore, domestic agencies and MDBs have introduced detailed sanctions procedures allowing debarment of corporations and individuals from future participation in procurement or from eligibility for export insurance. The debarment procedures established by MDBs may be regarded as a worldwide example of such administrative sanctioning, and one of the largest is the World Bank.
