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1. The problem with ‘embedded liberalism’: the World Bank and the myth of Bretton Woods

Author:
Samuel Appleton
Publication Date:
10-2016
Content Type:
Working Paper
Institution:
Centre for Global Political Economy, University of Sussex
Abstract:
The Bretton Woods conference is conventionally understood as a radical break between the laissez faire order and its ‘embedded liberal’ successor, in which finance was suppressed in the interest of trade and productive growth. The new institutions, particularly the IBRD are often considered emblematic of this. In response to this, the paper argues that the Bretton Woods order required the enlistment, not repression, of private American finance. Firstly, laissez-faire era proposals for international financial institutions provided important precedents for the Bretton Woods institutions. Second, these were predicated on the uniquely deep liquidity of American financial markets following upon Progressive-era reforms, in the legacy of which the Roosevelt administration sought to locate the New Deal. Thirdly, they found new relevance in the 1940s as the IBRD turned by necessity to American financial markets for operating capital. Negotiating the imperative of commercial creditworthiness had two important consequences. First, it entailed the structural and procedural transformation of the IBRD, and allowed management to carve out a proprietary terrain in which its agency was decisive. Second, this suggests that US agendas were mediated by the Bank’s institutional imperatives – and that finance was no more ‘embedded’ during the Bretton Woods era than its predecessor.
Topic:
Development, Economics, World Bank, Global Markets, International Development, and Global Political Economy
Political Geography:
United States, Europe, and Latin America

2. US Reconstruction Aid for Afghanistan: The Dollars and Sense

Author:
Catherine Lutz and Sujaya Desai
Publication Date:
11-2014
Content Type:
Working Paper
Institution:
Watson Institute for International and Public Affairs at Brown University
Abstract:
The United States, and its allies, the UN, NGOs, and the World Bank, have injected billions of dollars into what is commonly termed the "reconstruction" of Afghanistan since the war began in 2001. This paper focuses on United States spending on aid in Afghanistan, describing the rationale government officials have given for the aid, what they have spent money on, who has profited from the contracts to provide aid, and what the consequences of that spending have been in terms of benefits to the people of Afghanistan or the United States. The central findings of this review of US government investigative reports and existing field-based scholarship are that reconstruction aid has been allocated primarily to re-arming and policing Afghanistan, with poor or even counterproductive outcomes in both security and other-than-security domains. Furthermore, US companies have been among the primary beneficiaries of this aid, despite widespread fraud, waste, and dysfunction. In contrast to a focus on human needs, and rather than rebuilding the basis of a modern state, reconstruction has been focused on furthering United States security interests. Reconstruction thus sets the foundation for continued violence and impoverishment in the years to come.
Topic:
Corruption, Foreign Aid, and World Bank
Political Geography:
Afghanistan and United States

3. Pakistan and Afghanistan: International Indicators of Progress

Author:
Anthony H. Cordesman
Publication Date:
08-2014
Content Type:
Working Paper
Institution:
Center for Strategic and International Studies
Abstract:
It is unclear that the United States has any current assessments and strategy to deal with either these governance or economic issues. If it does, it has provided no transparency as to what these plans are, and has failed to develop any effective public measures of the effectiveness of its civil aid programs after more than 10 years of effort, and in spite of the fact that the civil dimension of counterinsurgency efforts is at least as important as the military efforts. It is also important to note that World Bank and UN reporting show the same lack of progress in governance, economics, and human development in Pakistan as in Afghanistan.
Topic:
Economics, Politics, and World Bank
Political Geography:
Pakistan, Afghanistan, United States, and India

4. The U.S. Aid "Surge" to Pakistan: Repeating a Failed Experiment? Lessons for U.S. Policymakers from the World Bank's Social-Sector Lending in the 1990s

Author:
Nancy Birdsall and Molly Kinder
Publication Date:
05-2010
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
During the 1990s, the World Bank and several donor partners provided a “surge” in external aid to support Pakistan's social sectors. Despite the millions of donor dollars spent, the program failed. Poverty was higher in Pakistan in 2004 than it was a decade earlier when the antipoverty program began. This working paper re-releases a CGD analysis of the World Bank's program, which was prepared in 2005 by CGD researchers Nancy Birdsall, Milan Vaishnav, and Adeel Malik. The analysis reports the many problems donors faced while working with Pakistan's government to improve health and education outcomes. A new preface by Nancy Birdsall and Molly Kinder identifies the key lessons from this massive donor experiment that are relevant today, as the United States and other donors prepare to increase their assistance to Pakistan to historic levels.
Topic:
Development, Poverty, Foreign Aid, and World Bank
Political Geography:
Pakistan, United States, and Central Asia

5. Are Funding Decisions Based on Performance?

Author:
Nandini Oomman, Steven Rosenzweig, and Michael Bernstein
Publication Date:
04-2010
Content Type:
Working Paper
Institution:
Center for Global Development
Abstract:
To what extent do the major funders of HIV/AIDS programs in developing countries use past performance to guide decisions about future funding? This question is important for those concerned with the effectiveness of the significant funding flows for the treatment, care, and prevention of HIV and AIDS: linking funding to performance can help ensure that the best programs are given continued resources (and the failing ones are not) and that program managers have the strongest incentives to perform at a high level and to improve the performance of their programs. Performance-based funding can also have unintended negative consequences. Linking funding to performance can also induce single-minded attention to specific targets to the exclusion of harder-to-measure but important outcomes and loss of integrity of information systems.
Topic:
Humanitarian Aid, Non-Governmental Organization, Foreign Aid, and World Bank
Political Geography:
United States

6. A Pillar's Progress: How Development's History Shapes U.S. Options in the Present

Author:
David Ekbladh
Publication Date:
05-2010
Content Type:
Working Paper
Institution:
Belfer Center for Science and International Affairs, Harvard University
Abstract:
Development is back. U.S. President Barack Obama has put it high on his strategic agenda. It is at the center of the State Department's much ballyhooed “Quadrennial Diplomacy and Development Review.” These aspirations come with real backing—Obama's fiscal year 2010 budget promises to double foreign aid to nearly $50 billion. Perhaps more importantly for supporters of development, across official Washington accord is growing that development must play a greater role not just in conflict zones but in general U.S. global strategy. It is not only the typical aid constituencies calling for greater attention. Even Secretary of Defense Robert Gates has urged a continuation of the emphasis on development that characterized policies of his last boss, former President George W. Bush. Almost assuredly, a pattern of bigger budgets, needed policy focus, and reform to the disjointed aid mechanisms within the U.S. government will emerge. Complementing (although not always supporting) this U.S. activity internationally is a collection of groups ranging from nongovernmental organizations (NGO)s to the United Nations (UN) and the World Bank. Overall, the place of aid U.S. foreign policy has not been so prominent or secure since the end of the Cold War. Development is once again, as Secretary of State Hillary Clinton characterizes it, “a core pillar of American power.”
Topic:
Development, Government, Non-Governmental Organization, United Nations, Foreign Aid, and World Bank
Political Geography:
United States and Washington

7. Special Policy Forum Report: Iran – Reformist Blues, Economic Woes

Author:
Afshin Molavi
Publication Date:
11-2002
Content Type:
Policy Brief
Institution:
The Washington Institute for Near East Policy
Abstract:
Iran has been experiencing nationwide student demonstrations this week, touched off by a hardline court's recent decision to sentence Tehran professor Hashem Aghajari to death for advocating reform of the Shi'i clergy. Although Aghajari's message was well within the mainstream of traditional Shi'a thought, it presented a challenge to the hardline clerics, who insist on a far-reaching revision of Shi'a that includes unquestioning obedience to ruling clergy. The death sentence was meant to send a message to other midranking academics within the reformist movement. Yet, the hardliners' grave miscalculation about the reaction of the Iranian street has led to protests in Tehran, Tabriz, and other Iranian cities.
Topic:
Security, Religion, and World Bank
Political Geography:
United States, Iran, Middle East, and Arab Countries

8. Independent Task Force Report: Reconstructing the Balkans

Author:
Charles A. Kupchan, Morton I. Abramowitz, and Albert Fishlow
Publication Date:
07-1999
Content Type:
Working Paper
Institution:
Council on Foreign Relations
Abstract:
The last of the six Balkan Wars of the twentieth century is over. But it is by no means certain that a durable peace is at hand. After vast death, destruction, and savagery lasting almost a decade can the peoples of the former Yugoslavia live together again in peace? If so, the region will require sustained help and support from the West. The United States and its European partners are in the midst of mustering the necessary resources and political will. There are numerous uncertainties complicating efforts to proceed with the reconstruction of the area. Whatever the international community may proclaim, the borders of Serbia, Kosovo, Bosnia, and Croatia could well change. The management of Kosovo's status and its relationship to Serbia is likely to produce serious tensions within the Alliance and between NATO and Russia. What politically will emerge from a beaten and traumatized Serbia no one can predict. Nor is it clear that Montenegro will remain as part of Yugoslavia, particularly if Milosevic continues to rule. An ethically fragile Macedonia has been badly weakened by the war and the inflow of three hundred thousand Kosovar deportees. Albania barely hangs together as a state. Neighboring Rumania and Bulgaria have avoided violence and begun to remake their societies, but they have suffered economically from the wars. The area of reconstruction is small and the population limited; the task at hand certainly is not of the dimensions of restoring post-war Europe. But the problems are daunting. Without security there will be no development. NATO forces will be needed indefinitely to keep the peace in Bosnia and Kosovo. Much more must be done to promote political and economic reform in the region, requiring vision and planning. The states of the region will first need urgent help to stabilize their economies and manage enormous humanitarian problems. They must also be able to envisage a better future, one that holds out the prospect of bringing them into Europe's political and economic mainstream. Realizing that goal will require profound changes in their economies and institutions as well as in their relationships with each other. Faced with these challenges, Western countries and a host of international institutions have begun to address how to foster the broad reconstruction of the area. The EU-sponsored stability pact, adopted in Cologne in June, is the beginning attempt at a multifaceted, coordinated approach to the problem. The G-8 has agreed on a broad program of financial assistance, and the EU has pledged 1.5 billion dollars for aid to Kosovo alone. Numerous follow-up conferences are already planned. Much more work has to be done to give reality and coherence to such efforts. Balkan reconstruction will be a protracted undertaking. It will require extremely difficult commodities – a comprehensive approach and the will, resources, and mechanisms to implement the effort. It is mostly to such a long term approach that this preliminary working paper addresses itself. It does not deal with the immediate requirements of refugee return and humanitarian assistance nor the urgent repair of human and material infrastructure. The World Bank and the IMF in cooperation with many other international organizations and interested countries are coordinating the assessment of needs and costs and have issued preliminary reports. The purpose of this working paper is to provide a broad political approach and to highlight the three key components of a comprehensive, long-term strategy: building security, integrating the region into the European Union, and fostering economic and political reform. For the purposes of this paper, we consider the region to be Serbia, Kosovo, Montenegro, Bosnia, Bulgaria, Macedonia, Albania, Croatia, and Rumania. This is somewhat arbitrary and these states are at different stages of political and economic development. The problems of Rumania and Bulgaria are quite different than Serbia's and Kosovo's; Croatia is much further advanced than next door Serbia and Bosnia. They all have to be dealt with separately, and no single state should hold back the progress of others in entering Europe. But they also face a collective future and the region will enjoy a lasting peace only if all its states leave the past behind and move decidedly to join the wider community.
Topic:
NATO, Ethnic Conflict, International Cooperation, International Political Economy, and World Bank
Political Geography:
Russia, United States, Europe, Bosnia, Kosovo, Yugoslavia, Serbia, Bulgaria, Balkans, Macedonia, Albania, and Croatia