... REPORT 2011:05 The governance of theWorld Bank3 The two main institutions of theWorldBank Group (WBG) are the International Bank for Reconstruction and Development (IBRD) andthe International ... elected them, and on the other hand they are Bank officials devoted to the interests and concerns of the institution The Executive Board of Directors has the overall responsibility for the general ... members of the Board of Governors, which convenes twice a year, once in the Spring and once during the Annual Meetings of theWorldBankandthe IMF The role of the Board of Governors is rather limited,...
... adjustment The WorldBankandthe IMF THEWORLDBANK or the International Bank for Reconstruction and Development (IBRD) andthe International Monetary Fund (IMF) were created in 1944 by leaders of the ... Impoverishing a Continent: TheWorldBankand IMF in Africa The U.S Connection Washington’s predominance ensured that whatever their theoretical mandates might be, theWorldBankandthe IMF would become ... policy content of adjustment programs (of the type supported by the IMF andtheWorld Bank) .”29 The New York Times called theWorldBankandthe IMF, the overlords of Africa.” Beginning in 1980,...
... politics TheBank s understanding of good governance continues to reflect a concern over the effectiveness of the state rather than the equity of the economic system andthe legitimacy of the power ... _ 1997 World Development Report 1997: The State in a Changing World (Washington DC: OUP for World Bank) _ 1994 Governance: TheWorldBank Experience (Washington, DC: TheWorld Bank) ... strengthening governance systems and enhancing governing institutions The modernization of the state, the fight against corruption, the reform of judiciary, the strengthening of legislatures and the...
... in this regard, they are acutely aware of theBank s connection to US power (and in particular the US Treasury) andthe impact upon theBank of the end of the Cold War, which they argue – along ... ‘visions’ for theBank Four visions for theBank are highlighted The first is the ‘Knowledge Bank , which they strongly associate with Stiglitz The second vision of theBank is the organisation ... did the new projects and programmes of SIN take and why? What sorts of people, within and outside the Bank, were and were not engaged in them? What impact did theBank s in-country work have and...
... of India and by other institutions with the help of WorldBank under its Environmental Management and Capacity Building Programme At the Government level, the Ministry of Environment and Forests ... context, space and time by the economists and other social scientists, located all over theworld During the last few years a lot of information and knowledge has been created in the area of environmental ... DELNET, BONET and MALIBNET Funding: The individual libraries determine their level of support The higher their budget the higher their support User libraries pay for the services they avail of...
... serve the interests of those to whom it was accountable REFORMING THEWORLDBANK During the 1980s, theWorldBankandthe IMF advocated similar policies, and there were many similarities in the ... and culture and is not easy to achieve From this perspective, theWorldBank reforms, as incomplete as they may be, are impressive The contrast between the limited successes of theBankandthe ... many of the problems of theWorldBank can be traced to the confusion over these two roles Moreover, they believe that theWorldBank has been used by the more developed countries to force the middle-income...
... The European Economy series contains important reports and communications from the Commission to the Council andthe Parliament on the economic situation and developments, such as the Economic ... during the crisis of 1929-1933 16 I.2.5 The decline in world trade during the crisis of 2008-2009 16 I.2.6 Unemployment rates during the Great Depression andthe present crisis in the II.1.1 Bank ... recovery remains uncertain and fragile The EU’s response to the downturn has been swift and decisive Aside from intervention to stabilise, restore and reform the banking sector, the European Economic...
... in the spring of 2008 with the failures of Bear Stearns in the United States andthe European banks Northern Rock and Landesbank Sachsen About half a year later, the list of (almost) failed banks ... deteriorating, banks cutting down credit further, and so on The downturn in asset markets snowballed rapidly across theworld As trade credit became scarce and expensive, world trade plummeted and industrial ... associated with the rescue of Fannie Mae and Freddy Mac, the bankruptcy of Lehman Brothers and fears of the insurance giant AIG (which was eventually bailed out) taking down major US and EU financial...
... financial and trade integration at the outset By the late 1920s, theworld economy had not overcome the enormous disruptions and destruction of trade and financial linkages resulting from the First World ... First World War andthe contractionary behaviour of France andthe 18 The defence of the fixed rate to gold was the fundamental element of the ideology of central bankers in Europe They focused ... stance, reluctant to expand expenditures In this way, the interwar gold standard became a mechanism to spread and deepen the depression across theworldThe rules of the gold standard forced participating...
... position of banks) Both risk-averse households and banks acting on the interbank market, condition their supply of funds to banks on the leverage position of the investment bankBank equity depletion ... the price for raising new bank capital at the stock market also increases, as investors learn about the increased riskiness of their investment in bank capital and demand a compensation for the ... Households and firms default on some of their loans The credit losses reduce bank equity and increase the leverage position of banks (the leverage effect is positively related to the initial...
... Italy andthe UK and after about 20 months in France and Germany • There appears to be a divide between France andthe UK on the one hand and Germany and Italy on the other hand in the current recession ... quarter of 2009 on the same quarter a year earlier (-4.8%), the rise in the unemployment rate over the period is remarkably small in Germany, Italy andthe Netherlands As noted above, the limited increase ... Italy andthe UK and two quarters in Germany and France However, the unemployment rate had returned to pre-recession levels more than 30 months after the onset of the recession in Italy and the...
... is the result of export demand collapsing even more strongly than import demand The euro area has thus provided a net demand stimulus to the rest of theworld economy Overall, the role of the ... countries, the decline in surpluses reflects the collapse in foreign demand for consumer durables and capital goods (1) Louis Kuijs blog of theworldbank in his blog entry http://eapblog.worldbank.org/content/chinasimport-surge-standard-economic-theory-commonsense-prevails ... as one of the culprits of the financial and economic crisis The persistent and large current account surpluses in the emerging Asian and oil producing economies have served to finance the US current...
... US demand and a depreciation of the real US dollar exchange rate for the euro area andthe EU at large in part depend on the policy actions and economic developments in other parts of theworld ... centralised, and this should facilitate the cooperation between the monetary authorities in the EU and globally And fiscal policies in the EU are coordinated in the framework of the Stability and Growth ... came to figure prominently on the agenda of the G20 and other global fora in 2008 and 2009 With hindsight the way policies in the European Union have responded to the crisis should overall be...
... 2009) The EU assistance comes in conjunction with loans of the IMF (EUR 13bn), theWorldBank (EUR 1bn) andthe EIB andthe EBRD (EUR 1bn) The package was designed to enable the economy to withstand ... adopted by the Hungarian authorities in the last week of October 2008 The assistance is provided in conjunction with loans from the IMF (EUR 12.5bn) andWorldBank (EUR 1bn) The purpose of the programme ... growth and jobs potential of the economy in the longer run, could support aggregate demand, employment and household income in the shortrun during the crisis, whilst at the same time improving the...
... action and monitor their implementation This body would have as voting members the members of the General Council of the ECB, a Member of the European Commission andthe Chairpersons of the three ... objectives Thus, the more effective the cleaningup and strengthening of bank balance sheets is the faster, stronger and more sustainable the economic recovery will be This would also set the conditions ... governments may hope that the financial system will 'grow out of the problem' andthe exit from banking support would be relatively smooth But, as long as the quality of the assets on banks' balance sheets...
... of the Great Depression andthe rise to world power of the United States; andthe conditions of economic theory, especially the breaking of the sanctity of the classical–neoclassical paradigm and ... for the IMF andthe late 1970s for theWorld Bank, the controlling faction of economic belief shifted to the right under the combined impetus of two growing tendencies The first was a change in the ... elsewhere TheWorldBankandthe IMF operate primarily as bankers to the central banks of nation-states Banks have power over policy formation because they control access to capital accumulations And...
... characterize theWorldBankand sets it apart from other international organizations Setting the Context: Unique Features of theWorldBankThe unique features of theWorldBank relate to the fact ... borrower understands theBank s requirements and standards and helping the borrower find the financing andthe technical assistance for preparatory work The project’s implementation is the responsibility ... the responsibility of the borrowing state, whereas supervision rests with theBankThe distinct roles of theBankandthe borrowing state are reflected in theBank s policies and procedures For...
... Nutrition, and Population, Washington, DC: WorldBankWorldBank (2009), Implementation of theWorldBank s Strategy for Health, Nutrition and Population (HNP) results: Achievements, Challenges andthe ... Forward, Washington DC: WorldBankWorldBank (2007), Health Development: TheWorldBank Strategy for Health, Nutrition, and Population, Washington, DC: WorldBank 10 The ICPD Program of Action ... countries improve their RH outcomes, particularly for the poor andthe vulnerable and in the context of theBank s overall strategy for poverty alleviation It underscores theBank s strong commitment...
... in the right 56 WorldBank (2001a) WorldBank (2001a) 58 TheWorldBank has developed a number of databases of indices, namely: TheWorldBank s World Business Environment Survey (WBES); TheWorld ... THEWORLDBANK GROUP35 A WorldBank Group PSD Activities – Historical Trends 55 Private sector development has been at the center of theWorldBank Group’s activities since the beginning In the ... as well as the South Asian Forum for Infrastructure Regulation andthe African Forum for Utility Regulation TheWorldBank has collaborated with the OECD and other donors to establish the Global...