By Liam Clegg

ISBN-10: 1137274557

ISBN-13: 9781137274557

ISBN-10: 1349445754

ISBN-13: 9781349445752

Liam Clegg presents an cutting edge examining of the place strength lies within the associations' concessional lending operations, drawing its specialize in shareholders and stakeholders from staffs' personal understandings in their operational environments.

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Additional info for Controlling the World Bank and IMF: Shareholders, Stakeholders, and the Politics of Concessional Lending

Example text

In this way, bureaucratic culture provides important points of reference that serve to shape the evolution of important norms. Within this broad framework, directed change is seen to occur in a very slow and incremental manner. Some ideas can be so deeply embedded in staff’s cognitive frameworks that shifts rely on personnel changes, as was seen by Chwieroth (2010) to be the case with contests at the Fund over the desirability of capital account liberalisation. However, under pressure exerted by both internal and external actors, norms at the Bank and Fund are rarely static.

Here, I show that at the World Bank, shareholder states are able to draw upon their unique position and financial resources to shape the organisation’s activities. And by appending the insights of the constructivist scholarship to those of the rationalist approach, it becomes possible to grasp the mechanisms at work in the Bank’s evolving positive feedback cycle. The central contribution of the rationalist approach to enhancing our understanding of the politics of shareholder control at the World Bank is in highlighting the importance of information in attempts to manage the activities of complex bureaucracies.

And by exploring the institutional processes that shape the Bank and Fund’s navigation of this point of tension, this study serves to link together the analysis of ‘the ought’ and ‘the is’ of international politics. A recurring criticism of cosmopolitan works is that all too often they remain rooted in the realm of the ideal. g. 8 Indeed, Aksu (2007: 288) has thrown down the gauntlet to cosmopolitan analysts to draw more fully on empirical work: Normative theorizing, especially in today’s world, is analytically even more demanding than it is given credit for.

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Controlling the World Bank and IMF: Shareholders, Stakeholders, and the Politics of Concessional Lending by Liam Clegg


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