Policing the banks : accountability mechanisms for the financial sector / Maartje van Putten.

Format:

Book

Author/Creator:

Putten, Maartje van, 1951-

Language:

English

Subjects (All):

Banks and banking, International.

Investments, Foreign--Developing countries.

Investments, Foreign.

Private banks--Developing countries.

Private banks.

Social responsibility of business--Developing countries.

Social responsibility of business.

Investments, Foreign--Social aspects.

Investments, Foreign--Environmental aspects.

Physical Description:

1 online resource (517 p.)

Edition:

1st ed.

Place of Publication:

Montreal [Quebec] : McGill-Queen's University Press, c2008.

Language Note:

English

Summary:

Describing how formerly secretive financial institutions have been slow to accept responsibility for the consequences of their investments - especially the problems that can result from projects in developing countries - she shows that financing institutions can cause significant social and environmental damage and argues that new accountability mechanisms are necessary to reduce or prevent such damage. Because such institutions operate on a global scale, only semi-judicial accounting mechanisms can provide the necessary accountability. It is time for the private financial sector to follow multilateral financial institutions in creating independent mechanisms, mediation procedures, and access to decision makers for people harmed or potentially harmed by projects financed by their institutions.

Contents:

Globalization and the Rise of Accountability Mechanisms

The World Bank and the History of Accountability

Inception of the World Bank Inspection Panel, Its Mandate, and Its Structure

Accountability Mechanisms in Other Multilateral Financial Institutions

Accountability for the Private Financial Sector

The Daily Work of an Accountability Mechanism

Results of an International Survey

A Swan Song and a Major New Development : Conclusions and Recommendations for Future Mechanisms

Appendices:1 Resolution Establishing the World Bank Inspection Panel

2 The Equator Principles II, July 26

3 Background Interviews

4 Experts Who Contributed to the Study Notes.

Notes:

Includes bibliographical references (p. [467]-480) and index.

ISBN:

9786612867095

9780773585164

0773585168

9781282867093

1282867091

9780773576650

0773576657

OCLC:

760073184