Losing the global development war : a contemporary critique of the IMF, the World Bank, and the WTO / John W. Head.

Format:

Book

Author/Creator:

Head, John W. (John Warren), 1953-

Language:

English

Subjects (All):

World Trade Organization.

World Bank.

International Monetary Fund.

Development banks--Evaluation.

Development banks.

Economic assistance.

International Monetary Fund--Evaluation.

World Bank--Evaluation.

World Trade Organization--Evaluation.

Evaluation.

Physical Description:

xxiv, 344 pages : illustrations ; 23 cm

Place of Publication:

Leiden : Martinus Nijhoff Publishers, [2008]

Contents:

Chapter 1 The Fourth World War 1

I Antecedents to the Global Development War 2

A World War I 2

1 Self-Determination 2

2 Presumptions Upended 3

B World War II 4

1 Global Economic Issues Break the Political Surface 4

2 Human Rights Rumblings 5

3 International Law and International Organizations 6

C The Cold War 7

1 A Bold Experiment 8

2 Economic Assistance and Ideological Influence 9

3 A Giant with Nightmares 10

II The Nature of the Global Development War 12

A Conflicting Development Ideologies 13

1 Development 13

2 Human Development 15

3 Liberal or Orthodox? 16

4 Intelligent or Ill-Conceived? 23

5 Participatory or Authoritarian? 25

6 Multilateral, Bilateral, or Regional? 26

7 Sustainable or Improvident? 27

B Why the War Matters 29

1 Despair, Danger, and Development 29

2 Terrorism: Predictable Consequence or Parallel Conflict? 42

C The Machinery and Theaters of War 44

1 The Political and Institutional Topography 44

2 The Global Economic Organizations 46

Chapter 2 A Cacophony of Criticisms-Attacking the Global Economic Organizations 49

I A World of Problems 50

A Growing Economic Distress 50

B Globalization as Culprit? 52

II Cataloguing the Criticisms 54

A Criticisms by Types of GEOs 54

1 The Logic of Disaggregation 54

2 The Twenty-Three Criticisms 54

B The Eight Clusters of Complaints 58

Appendix to Chapter 2 Representative Survey of Literature Criticizing the GEOs 63

Chapter 3 What Are the Global Economic Organizations? 91

I Historical Survey 92

A Highlights in the GEO Timeline 93

B The Inter-War Period and Bretton Woods 96

1 Before 1944 96

2 Three Proposed Solutions 98

C The First Twenty-Five Years: From 1945 to 1970 100

D The Second Twenty-Five Years: From 1970 to the mid-1990s 102

1 Reacting to Change 102

2 Whither the Nation-State? 102

E The Contemporary World of the GEOs 104

II The IMF in a Nutshell 105

A The Grand Design and Its Collapse 105

1 Establishment of the IMF and the Par Value System 105

2 Collapse of the Par Value System and a Redirected IMF 106

B IMF Financing and Resources 107

1 IMF Financing Facilities 107

2 IMF Conditionality 110

3 IMF Resources for Lending 111

C Other IMF Operations 112

1 Surveillance 112

2 Technical Assistance 112

3 Special Policy Endorsement 113

D Governance and Other Institutional Matters 113

1 IMF Structure and the Weighted Voting System 113

2 Membership; Obligations; Privileges and Immunities 114

3 Funding the IMF's Operational Expenses 115

4 Debt Relief 116

III The World Bank and the Regional MDBs in a Nutshell 117

A MDB Lending Operations 118

1 Project Financing 118

2 Policy-Based Lending 119

3 Lending Terms 120

4 Procurement 120

B Technical Assistance and Other Operations 121

C Resources and Other Financial Matters 123

1 More on the Distinction Between Hard Loans and Soft Loans 123

2 MDB Capitalization, Borrowings, and Replenishments 124

D Membership and Institutional Matters 127

1 Membership in the MDBs 127

2 Structure of and Decision Making in the MDBs 129

E Other Aspects of MDBs and Their Operations 131

1 Policies and Initiatives 131

2 The Generational Character of the MDBs 131

3 Debt Relief 134

IV The WTO in a Nutshell 134

A The GATT 1947 135

1 Aims and Principles 135

2 Exceptions to GATT Principles 138

B Negotiating Rounds and Other Developments 141

1 Tokyo, Uruguay, and Doha 141

2 The Uruguay Round Agreements 142

C Institutional and Structural Matters 144

1 The Nature of the WTO and the WTO Charter 144

2 WTO Membership and Structure 145

3 Decision Making and Dispute Settlement 146

Appendix to Chapter 3 Voting Power of IMF Member Countries and Constituencies 149

Chapter 4 Battles over the GEOs' Policies and Operations 167

I Bad Policies, Projects, and Performance 168

A The Ideology of Trade Liberalization 168

B The "Washington Consensus", Moral Hazard, the IMF, and the MDBs 175

1 The Criticisms 175

2 Improvement or Deterioration? 177

3 Causation 178

4 Moral Hazard? 179

5 Changed Prescriptions 180

6 Summing up on IMF Policy Prescriptions 182

C Bad Projects, Priorities, and Performance by the MDBs 183

1 Bad MDB Policies and Projects? 184

2 Wrong Form of Assistance? 188

3 MDB Management and Staffing 190

II Distributional and Social Injustice 193

A Winners and Losers from WTO-Led Free Trade 193

1 Focusing on the National Level 194

2 Focusing on the Global Level 196

B Austerity Measures, the IMF, and Social Ruin 200

C Human Rights and the MDBs 203

III Environmental Degradation 205

A The MDBs and the Environment 206

B Racing to the Bottom 208

IV Encroachments on Sovereignty 213

A WTO Prohibitions on Social Protectionism 213

B IMF and MDB Conditionality 218

V Summary: Evaluating the Criticisms of GEO Policies and Operations 221

Chapter 5 Battles over the GEOs' Character, Control, and Reach 227

I Secrecy and Opaqueness 227

A The Illumination of the IMF 228

B The MDBs and the Momentum Toward Openness 230

C The WTO-A Different Momentum Toward Openness 231

II The Democracy Deficit 232

A The IMF: Voting, Structure, Authority, and Leadership 233

B The MDBs: More of the Same, But Worse 242

C The WTO and Partial Unaccountability 248

1 Democracy in the WTO? 248

2 The WTO's Allegiance to Its Members 249

3 Genuine Unaccountability Problems 250

4 Strengthening Weak National Governments 252

III Mission Creep of the MDBs and the IMF 255

A Mission Creep and the Three Generations of MDBs 256

1 Old Dogs and New Tricks 256

2 Legality and Ideology 258

B IMF Mission Creep? 263

IV Asymmetry in Obligations (IMF and the MDBs) 265

A Asymmetry in IMF Obligations 266

B Asymmetry in MDB Obligations 269

V Summary: Evaluating the Criticisms of GEO Character, Control, and Reach 270

Chapter 6 The Current Front in the Global Development War-How (and Whether) to Reform the GEOs? 275

I Reforming the MDBs 276

A Transparency 277

B Participation 278

C Legality 279

D Competence 280

E Accountability 282

1 Accountability of Member Countries 282

2 Accountability of the MDBs 283

F Substantive Norms and Standards 285

G Charter Amendments 287

II Reforming the IMF 288

A Structural and Operational Changes in the IMF 290

B Enhancing Competence in National Governance 295

III Reforming the WTO 301

A Distributional Justice and Distributional Generosity 302

B Environmental and Human Rights Protections 307

C Transparency 310

D Accountability 310

E Development Assistance 312

A Collective Assessment of the GEOs 313

B The Perils of Bilateralism 315

1 Chinese Bilateral Development Financing 315

2 US Bilateral Trade Negotiations 318

C The Role of the USA and the Future of the GEOs 320

Appendix to Chapter 6 Draft Protocol to the AsDB Charter 323.

Notes:

Includes bibliographical references (pages 331-337) and index.

ISBN:

9789004161887

9004161880

OCLC:

191024030