The Governance Structures of the Bretton Woods Financial Institutions: A Case of "Beggar-Thy-Neighbour"

Description

This book uses institutional data to examine and analyze the current governance structures of Multilateral Financial Institutions (MFIs) with the ultimate goal of reforming MFI governance models to be more responsive to the needs of developing countries. Founded in the post-World War II era, MFIs, collectively known as the Bretton Woods Financial Institutions (BWFIs), were created to promote global economic development and financial stability. This book argues, however, that the governance structures and policies of the MFIs have been biased in favour of developed country members, excluding less economically advanced countries from decision-making processes and perpetuating the economic status quo. Considering the inability of MFIs to adequately respond to the financial needs of developing countries, the book raises an alternative proposal for BWFI reform, based on the following criteria: (i) encouraging development incentives, (ii) favouring development learning through knowledge transfer and easing its appropriation by developing countries, and (iii) guiding and facilitating access to private international financial markets. Combining historical economic analysis with policy recommendations for the future, this book will be of particular interest to students and researchers of development economics, governance, and MFIs, as well as practitioners working with the institutions studied. Front Matter ....Pages i-xxi Overview: Historical Development of International Financial Institutions, Development Assistance and Conceptual Issues (Ahmed Naciri)....Pages 1-12 Poor and Developing Environment (Ahmed Naciri)....Pages 13-26 Bretton Woods Institutions Within the International Financial Architecture for Development (Ahmed Naciri)....Pages 27-46 Governance of Bretton Woods Financial Institutions (Ahmed Naciri)....Pages 47-60 Regional Development Banks Within the International Financial Architecture for Development (Ahmed Naciri)....Pages 61-80 Governance Structure of Regional Development Banks (Ahmed Naciri)....Pages 81-99 Development Assistance Movement Within the International Financial Architecture for Development (Ahmed Naciri)....Pages 101-116 Empirical Assessment of Official Development Assistance Efficiency (Ahmed Naciri)....Pages 117-129 Empirical Assessment of the Impact of Public Governance on Development (Ahmed Naciri)....Pages 131-144 Empirical Assessment of Developing Countries’ Public Governance (Ahmed Naciri)....Pages 145-158 Concluding Remarks: A Lightened Cooperation and Assistance! (Ahmed Naciri)....Pages 159-176 Back Matter ....Pages 177-184