5341. Imposing Ideology as "Best Practise": The Problematic Role of the International Financial Institutions in the Reconstruction and Development of South East Europe
- Author:
- Milford Bateman
- Publication Date:
- 01-2004
- Content Type:
- Working Paper
- Institution:
- Austrian National Defence Academy
- Abstract:
- The reconstruction and development of post- communist South East Europe since 1988 has taken place within the framework of the neo-liberal policy model that was effectively imposed upon the region by the Bretton Woods institutions - the World Bank and IMF. As elsewhere in central and eastern Europe ( see Sachs, 1990), the confident prediction made by both institutions was that their preferred policy framework would ensure both a rapid and a sustainable post-communist, and then after 1995 and 1999 a post-conflict, reconstruction and development trajectory. What has transpired instead is something quite different: unstoppable de-industrialisation, dramatically rising poverty, unemployment levels now officially among the highest in the world, high levels of inequality, declining life expectancy, rising employee insecurity and deteriorating working conditions for many, an unprecedented rise in the level of corruption and criminality, drastically declining levels of solidarity and tolerance within already distressed communities, increasingly unsustainable trade and foreign debt levels, and collapsing public health, recreation and welfare services. In spite of such overtly negative results, the World Bank and IMF (hereafter, the International Financial Institutions, IFIs), as well as associated regional development institutions, such as the EBRD, do not appear to have become at all discouraged with the standard neo- liber al policy model. On the contrary, it retains the unequivocal support of the IFI s in South East Europe, as indeed it does just about everywhere else in the world, most recently with respect to the reconstruction of Iraq.
- Topic:
- Security and Defense Policy
- Political Geography:
- United States, Iraq, Europe, and Central Asia