Xu, Jiajun.  2017.  Beyond US Hegemony in International Development: The Contest for Influence at the World Bank. (Cambridge: Cambridge University Press)

Excerpt

Jiajun Xu studies how power transitions affect the outcomes of replenishment conferences at the International Development Association (IDA) – a development fund managed by the World Bank to assist least developed countries with highly concessional development funding. This is a timely analysis given that the multilateral development system is witnessing the advent of new institutions. After World War II, the multilateral development system reflected the dominant position of the United States – with only a few institutions addressing the development needs of least developed countries. During the Cold War, power shifts among donor states led to readjustments of voting weights within the existing system. In the most recent decade, however, China emerged as a credible challenger to American hegemony, attempting to gain influence within the established multilateral institutions while also crafting new institutions such as the Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB). …