Skip to main content
Fachgebiete
Automobil + Motoren Bauwesen + Immobilien Business IT + Informatik Elektrotechnik + Elektronik Energie + Nachhaltigkeit Finance + Banking Management + Führung Marketing + Vertrieb Maschinenbau + Werkstoffe Versicherung + Risiko
DE
EN
Themenseiten
Organisationspsychologie Projektmanagement Marketing Smart Manufacturing
Bücher
Zeitschriften
Weitere Formate
Podcasts Webinare Technik Webinare Wirtschaft Kongresse Veranstaltungskalender Awards
Jetzt Einzelzugang starten
Zugang für Unternehmen
Referenzkunden
MTZ-Fachkongress

Antriebe und Energiesysteme von morgen


Austausch von Automobil- und Energiewirtschaft

Am 14./15. Mai geht es in Chemnitz um die Mobilitätswende durch Elektro- und Wasserstofffahrzeuge.
Erweiterte Suche
Anmelden
nach oben
Erschienen in:
Buchtitelbild

2016 | OriginalPaper | Buchkapitel

1. The IMF, LIDC Reform, and the Post-Washington Consensus

verfasst von : Mark Hibben

Erschienen in: Poor States, Power and the Politics of IMF Reform

Verlag: Palgrave Macmillan UK

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config
loading …

Abstract

‘Poor States, Power, and the Politics of IMF Reform: Drivers of Change in the Post-Washington Consensus’ by Mark Hibben addresses a critical gap in the International Monetary Fund (IMF) literature. Chapter 1 highlights that despite the growing policy footprint of the IMF in the world’s poorest states, the literature has not elucidated what factors drive successful cases of IMF Low Income Developing Country (LIDC) reform in the post-Washington Consensus period. The chapter provides a brief overview of LIDCs and develops why the post-2008 period is crucial for policy insiders and activists interested in macroeconomic and development outcomes in the global South. The chapter then introduces the four cases studied and the book’s research design. It concludes with a summary of major findings.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

Jetzt informieren
Nächstes Kapitel The IMF and LIDCs
Fußnoten
1
1. Data compiled from the 2005 and 2014 IMF annual reports. For the 2005 Annual Report, see IMF (2005) Annual Report of the Executive Board for the Financial Year Ended April 30, 2005, Appendix II, page 12, http://​www.​imf.​org/​external/​pubs/​ft/​ar/​2005/​eng/​index.​htm, date accessed 11 June 2015. For the 2014 Annual Report, see IMF (2014) Annual Report of the Executive Board for the Financial Year Ended April 30, 2014, Appendix II, page 1, http://​www.​imf.​org/​external/​pubs/​ft/​ar/​2014/​eng/​index.​htm, date accessed 11 June 2015.
 
2
2. At the 2009 G-20 summit, member states requested that the IMF coordinate the so-called Mutual Assessment Process (MAP). The MAP is designed to ‘identify objectives for the global economy, the policies needed to reach them, and the progress toward meeting these shared objectives’. Since 2009, the Fund has presented an annual MAP report at the G-20 meetings. See IMF Official Website, IMF Factsheet: The G-20 Mutual Assessment Process (MAP), http://​www.​imf.​org/​external/​np/​exr/​facts/​g20map.​htm, date accessed 7 October 2014.
 
3
3. Prior to 2014, the Fund used ‘low income countries’ to describe its poorest states. In 2014, the World Economic Outlook adopted the term ‘low income developing countries’. The two are currently used interchangeably within the IMF. See IMF Official Website, Proposed New Grouping in WEO Country Classifications: Low Income Developing Countries, http://​imf.​org/​external/​np/​pp/​eng/​2014/​05=​60314.​pdf, date accessed 2 January 2015.
 
4
4. For an overview of LIDC programs at the IMF, and how these have moved to the ‘front and center’ in the IMF’s agenda, see the recently launched Fund website focused on its poorest member states at http://​www.​imf.​org/​external/​np/​exr/​key/​lic.​htm
 
5
5. This project thus consciously selects on the dependent variable the dependent variable (LIDC policy change). As outlined by George and Bennett (2005: 23–4), doing so is appropriate in early stages of research focused on identifying potential variables and mechanisms that impact the dependent variable in question: ‘Cases selected on the dependent variable … can help identify which variables are not necessary or sufficient conditions for the selected outcome. In addition, in the early stages of a research program, selection on the dependent variable can serve the heuristic purpose of identifying the potential causal paths and variables leading to the dependent variable of interest. Later, the resulting causal model can be tested against cases in which there is variation in the dependent variable’.
 
6
6. The success of these efforts led to further calls for debt reduction. In 2005, the G-8 proposed that the IMF, World Bank, and African Development Fund cancel 100 % of multilateral debt claims of states that had reached HIPC II completion points. Under the Multilateral Debt Relief Initiative (MDRI), the Fund formed two trusts (MDRI-I and MDRI-II) to pay off the full stock of debt owed to the IMF for loans disbursed prior to 2005.
 
7
7. John Williamson, an economist at the Peterson Institute in Washington, DC, coined the term ‘Washington Consensus’ in 1989. In its original context, the Washington Consensus was a description of what Williamson saw as the broad-based consensus among ‘the political Washington of Congress and senior members of the administration and the technocratic Washington of the international financial institutions, the economic agencies of the U.S. government, the Federal Reserve Board, and the think tanks around appropriate reforms needed in Latin American economies at the time’. Williamson argues that the popular use of the term that emerged in the 1990s equated it with market fundamentalism and misrepresented his original meaning. He maintains, for example, that his conception of the Washington Consensus did not support carte blanche deregulation and privatization. Williamson (2008: 14–30) also notes that he was staunchly opposed to capital account liberalization pushed by the IMF until the late 1990s.
 
8
8. The term ‘post-Washington Consensus’ was first used by Joseph Stiglitz in a 1998 speech outlining his critique of the ‘market fundamentalism’ of the Washington Consensus. At the time, Stiglitz was vice president and chief economist of the World Bank. See Stiglitz (1998).
 
9
9. Finance and Development is the quarterly publication of the IMF and is self-described as ‘publishing analysis of issues related to the international financial system, monetary policy, economic development, poverty reduction, and other world economic issues’.
 
10
10. As outlined by Rupert (2000: 42), social relations, while not empirically ‘observable’ as things, have structures that can be explained through an analysis of ‘identifiable constellations of dominant social forces’ in prevailing historical structures.
 
Literatur
Barnett, M., and R. Duvall. 2005. Power in global governance. In Power in global governance, ed. M. Barnett and R. Duvall, 1–22. Cambridge: Cambridge University Press.
Barnett, M., and M. Finnemore. 1999. The politics, power, and pathologies of international organizations. International Organization 53(4): 699–732.CrossRef
Barnett, M., and M. Finnemore. 2004. Rules for the world: International organizations in global politics. Ithaca: Cornell University Press.
Berg, A., and J. Ostry. 2011. Equality and efficiency: Is there a trade-off between the two or do they go hand in hand ? Finance and Development 48(3): 12–15.
Best, J. 2007. Legitimacy dilemmas: The IMF’s pursuit of country ownership. Third World Quarterly 28(3): 469–488.CrossRef
Best, J. 2014. Governing failure: Provisional expertise and the transformation of global development finance. Cambridge: Cambridge University Press.
Bieler, A., and A. Morton. 2004. A critical theory route to Hegemony, world order, and historic change: Neo-Gramscian perspectives in international relations. Capital and Class 82: 85–113.CrossRef
Bird, G. 1995. IMF lending in developing countries: Issues and evidence. London: Routledge.CrossRef
Bøås, M., and D. McNeill. 2003. Multilateral institutions: A critical introduction. London: Pluto Press.
Boughton, J., and D. Lombardi. 2009. The role of the IMF in low-income countries. In Finance, development, and the IMF, ed. J. Boughton and D. Lombardi, 3–11. Oxford: Oxford University Press.CrossRef
Broome, A. 2009. When do NGOs matter? Activist organizations as a source of change in the international debt regime. Global Society 23(1): 59–78.CrossRef
Chwieroth, J. 2008a. Organizational change ‘from within’: Exploring the World Bank’s early lending practices. Review of International Political Economy 15(4): 481–505.CrossRef
Chwieroth, J. 2008b. Normative change; from within: The International Monetary Fund’s approach to capital account liberalization. International Studies Quarterly 52: 129–158.CrossRef
Chwieroth, J. 2010. Capital ideas: The IMF and the rise of financial liberalization. Princeton: Princeton University Press.
Chwieroth, J. 2014. Controlling capital. The International Monetary Fund and transformative incremental change from within international organizations. New Political Economy 19(3): 445–469.CrossRef
Clegg, L. 2012a. Post-crisis reform at the IMF: Learning to be (seen to be) a long-term development partner. Global Society 26(1): 61–81.CrossRef
Clegg, L. 2012b. Global governance behind closed doors: The IMF boardroom, the enhanced structural adjustment facility, and the intersection of material power and norm change in global economic governance. Review of International Organizations 7(3): 285–308.CrossRef
Clegg, L. 2013. Controlling the World Bank and the IMF: Shareholders, stakeholders, and the politics of concessional lending. Basingstoke: Palgrave Macmillan.CrossRef
Clegg, L. 2014. Social spending targets in IMF concessional lending: US domestic politics and the foundations of rapid operational change. Review of International Political Economy 21(3): 735–763.CrossRef
Clift, B., and J. Tommilson. 2011. When rules started to rule: The IMF, neo-liberal economic ideas, and economic policy change in Britain. Review of International Political Economy 18(1): 477–500.
Cox, R. 1981. Social forces, states, and world orders: Beyond international relations theory. Millennium: Journal of International Studies 10(3): 126–155.CrossRef
Cox, R. 1983. Gramsci, hegemony, and international relations: An essay in methods. Millennium: Journal of International Studies 12(2): 162–175.
Cox, R. 1987. Production, power, and world order: Social forces in the making of history. New York: Columbia University Press.
Dreher, A. 2006. IMF and economic growth: The effects of programs, loans, and compliance with conditionality. World Development 34(5): 769–788.CrossRef
George, A., and A. Bennett. 2005. Case study and theoretical development in the social sciences. Cambridge, MA: MIT Press.
Gill, S. 1993. Epistemology, ontology, and the ‘Italian school’. In Gramsci, historical materialism and international relations, ed. S. Gill, 21–48. Cambridge: Cambridge University Press.CrossRef
Gill, S. 1995. Globalization, market civilization, and disciplinary neo-liberalism. Millennium: Journal of International Studies 24(3): 411–431.CrossRef
Gill, S. 2008. Power and resistance in the new world order. London: Palgrave Macmillan.CrossRef
Hawkins, D., D. Lake, D. Nielson, and M. Tierney. 2006. Delegation under anarchy: States, international organizations, and principal-agent theory. In Delegation and agency in international organizations, ed. D. Hawkins, D. Lake, D. Nielson, and M. Tierney, 3–38. Cambridge: Cambridge University Press.
Hirschman, A. 1958. The strategy of economic development. New Haven: Yale University Press.
Lavelle, K. 2011. Legislating international organization: The US congress, the IMF, and the World Bank. Oxford: Oxford University Press.CrossRef
Momani, B. 2005. Recruiting and diversifying IMF technocrats. Global Society 19(2): 167–187.CrossRef
Momani, B. 2007a. Limits on streamlining fund conditionality: The International Monetary Fund’s organizational culture. Journal of International Relations and Development 8(2): 142–163.CrossRef
Momani, B. 2007b. IMF staff: Missing link in fund reform proposals. Review of International Organizations 2(1): 39–57.
Momani, B. 2010. Internal or external norm champions: The IMF and multilateral debt relief. In Owning development: Creating policy norms in the IMF and World Bank, ed. S. Park and A. Vetterlein, 29–47. Cambridge: Cambridge University Press.CrossRef
Moschella, M. 2010. Governing risk: The IMF and global financial crises. London: Palgrave MacMillan.CrossRef
Nielson, D., and M. Tierney. 2003. Delegation to international organizations: Agency theory and World Bank environmental reform. International Organization 57(2): 241–276.
Nielson, D., M. Tierney, and C. Weaver. 2006. Bridging the rationalist-constructivist divide: Re-engineering the culture of the World Bank. Journal of International Relations and Development 9(2): 107–139.CrossRef
Park, S., and A. Vetterlein. 2010a. Owning development: Creating policy norms in the IMF and World Bank. In Owning development: Creating policy norms in the IMF and World Bank, eds. Park, S., and A. Vetterlein, 3–26. Cambridge: Cambridge University Press, 2010.
Polak, J. 1997a. The IMF monetary model: A hearty perennial. Finance and Development 34(4): 16–18.
Prebisch, R. 1950. The economic development of Latin America and its principal problems. New York: United Nations.
Robinson, W. 2004. A theory of global capitalism: Production, class, and state in a transnational world. Baltimore: Johns Hopkins Press.
Rodrik, D. 2006. Goodbye Washington consensus, hello Washington confusion? A review of the World Bank’s economic growth in the 1990s: Learning from a decade of reform. Journal of Economic Literature 44(4): 973–987.CrossRef
Rückert, A. 2007. Producing neoliberal hegemony? A neo-Gramscian analysis of the poverty reduction strategy paper (PRSP) in Nicaragua. Studies in Political Economy 79: 91–118.
Rückert, A. 2009. A decade of poverty reduction strategies in Latin America: Empowering or disciplining the poor? Labour, Capital, and Society 42(1&2): 56–81.
Rückert, A. 2010. The forgotten dimension of social reproduction: The World Bank and the poverty reduction paradigm. Review of International Political Economy 17(5): 816–839.CrossRef
Rupert, M. 1990. Producing hegemony: State/society relations and the politics of productivity in the United States. International Studies Quarterly 4(34): 427–456.CrossRef
Rupert, M. 1995. Producing hegemony: The politics of mass production and American global power. Cambridge: Cambridge University Press.
Rupert, M. 2000. Ideologies of globalization: Contending visions of a new world order. London: Routledge.
Rupert, M. 2005. Class power and the politics of global governance. In Power in global governance, ed. M. Barnett and R. Duvall, 200–214. Cambridge: Cambridge University Press.
Rupert, M. 2007. Marxism and critical theory. In International relations theories: Discipline and diversity, ed. T. Dunne, M. Kurki, and S. Smith, 148–165. Oxford: Oxford University Press.
Ryner, M. 2002. Capitalist restructuring, globalization and the third way: Lessons from the Swedish model. London: Routledge.
Seabrooke, L. 2007. Legitimacy gaps in the world economy: Explaining the sources of the IMF’s legitimacy crisis. International Politics 44: 250–268.CrossRef
Seabrooke, L. 2010. Bitter pills to swallow: Legitimacy gaps and social recognition of the IMF tax policy norm in East Asia. In Owning development, ed. S. Park and A. Vetterlein, 137–149. Cambridge: Cambridge University Press.CrossRef
Sil, R., and P. Katzenstein. 2010. Beyond paradigms: Analytic eclecticism in the study of world politics. London: Palgrave Macmillan.
Singer, H.W. 1950. The distribution of gains between investing and borrowing countries. American Economic Review 40(2): 473–485.
Stiglizt, J. 1998. More instruments and broader goals: Moving toward the post Washington consensus. The WIDER Annual Lecture, Helsinki 7 January 1998.
Stiglitz, J. 2008. Is there a post Washington consensus consensus? In The Washington consensus reconsidered: Towards a new global governance, ed. N. Serra and J. Stiglitz, 31–56. Oxford: Oxford University Press.
Taylor, I. 2004. Hegemony, neoliberal “good governance” and the International Monetary Fund: A Gramscian perspective. In Global institutions & development: Framing the world, ed. M. Bøås and D. McNeill, 124–136. London: Routledge.
Vetterlein, A. 2010. Lacking ownership: The IMF and its engagement with social development as a policy norm. In Owning development: Creating policy norms in the IMF and World Bank, ed. S. Park and A. Vetterlein, 93–112. Cambridge: Cambridge University Press.CrossRef
Vetterlein, A., and M. Moschella. 2014. International organizations and organizational fields: Explaining policy changes in the IMF. European Political Science Review 6(1): 143–165.CrossRef
Vreeland, J. 2007. The International Monetary Fund: Politics of conditional lending. New York: Routledge.
Weaver, C. 2008. Hypocrisy trap: The World Bank and the poverty of reform. Princeton: Princeton University Press.CrossRef
Weaver, C. 2010. The meaning of development: Constructing the World Bank’s good governance agenda. In Constructing the international economy, ed. R. Adedal, M. Blythe, and C. Parsons, 47–67. Ithaca: Cornell University Press.
Williamson, J. 2008. A short history of the Washington consensus. In The Washington consensus reconsidered: Towards a new global governance, ed. N. Serra and J. Stiglitz, 14–30. Oxford: Oxford University Press.CrossRef
Woods, N. 2006. The globalizers: The IMF, the World Bank, and their borrowers. Ithaca: Cornell University Press.
Metadaten
Titel
The IMF, LIDC Reform, and the Post-Washington Consensus
verfasst von
Mark Hibben
Copyright-Jahr
2016
Buch
Poor States, Power and the Politics of IMF Reform

Print ISBN: 978-1-137-57749-8

Electronic ISBN: 978-1-137-57750-4

Copyright-Jahr: 2016

DOI
https://doi.org/10.1057/978-1-137-57750-4_1

Premium Partner

    Bildnachweise