IGS 10a Chapter Notes - Chapter LATTE: Mutual Insurance, Ngaire Woods, Sub-Saharan Africa
2 Sep 2016
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Ngaire woods, the globalizers in search of a future. Despite being effective engines of globalization, the imf and the world bank are in decline. Under serious attack for lacking legitimacy, independence, and effectiveness from several sides. Peddling poor quality economic advice, serving american interests, supporting or even promoting corrupt and oppressive regimes, and hurting the poor. Main clients no longer want to borrow from them. Conditionality (their principal instrument for opening markets as well as safeguarding their resources) does not work. Place great stock in advising countries on economic policy, but advice is not seen as impartial by members. Incentive for major countries to join - majority vote for action c: focus on what each institution is uniquely placed to do a. Imf created to foster monetary cooperation, financial stability, and to ensure governments were not forced to take measures destructive of national prosperity a. i.
