Class Notes (839,242)
Canada (511,223)
POLSCI 1G06 (280)
Todd Alway (280)
Lecture 10

Lecture 10b International Organizations II.doc

3 Pages
81 Views

Department
Political Science
Course Code
POLSCI 1G06
Professor
Todd Alway

This preview shows page 1. Sign up to view the full 3 pages of the document.
Description
Political Science 1G06 2013 II Lecture 10b International Organizations IMF - On one level, the International Monetary Fund has a degree of autonomy that most other international organizations lack - Specifically, in terms of its operational budget (although not its loan budget) the Fund is by and large self-funding - Having said this, the ability of the organization to exercise that autonomy is largely constrained by its most powerful members - Unequal voting rights - Decisions in the IMF are not made on the basis of one state one vote (as is the case in the UN General Assembly) - They are made on a weighted basis o Weighted according to a state’s financial contribution to the organization - The net effect is that certain economically powerful states have a far greater percentage of the total votes than others - The United States, since it has contributed the most to the fund, has close to 17% of the total voting power in the organization - Moreover, since a certain category of IMF decisions requires the approval of 85% of the total votes, the US has the power to veto actions by the Fund in certain circumstances World Bank: - The Bank is actually a composite of 5 separate organizations, two of which are most significant: - A) International Bank for Reconstruction and Development (IBRD) - The IBRD provides loans to “credit worthy” middle-income member states for specific development projects - These loans must be repaid with interest - However they are provided on more advantageous financial terms than the borrower government would be able to get from private sources - B) International Development Association (IDA) - Lends to states having a very low GDP/capita - The funds are provided either as outright grants, or as loans with no interest and a 35-40 year repayment period Autonomy: - The Bank has two main sources of independence: - A) Financial - Parts (but not all) of the Bank is self funding - B) Ideological power 1 - 10 000 staff: 7000 in Washington, 3000 elsewhere - It represents a large concentration of research ability and intellectual authority - It is able to (in part) define what development is, what types of policies are required to grow economically (recall our discussion of constructivism) - However, the Bank is constrained/guided by the power of its largest member states - Like the IMF, votes are weighted according to the financial contribution that the state makes to the organization - The US has over 16% of the vote which gives it the ability to veto any major change to the Bank’s Articles of Agreement (since a constitutional change requires 85% approval) World Trade Organization: - The WTO is responsible for administering a number of separate agreements, all of which are designed to create a liberal free-trade international economy - Some of the more significant:
More Less
Unlock Document

Only page 1 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit