International financial institutions (IFIs) have strongly influenced development thinking and practice in recent decades. The intellectual contributions of Bretton Woods institutions—the International Monetary Fund (IMF) and the World Bank–were unparalleled in the early decades; their analysis and ideas have dominated aspects of development strategy and ideology. IFIs have exerted direct influence thorough the volume of their financial transfers, and indirectly through their impact on the resource transfers of donors and the private sector. In more recent years, the intellectual contributions of IFIs have declined as the development thinking shifts from focussing on capital accumulation and technical progress to human capital investment and social inclusion. This raises the question of whether the IFIs can regain their material influence in the development agenda.
— Suggested Readings
Bretton Woods Committee. (2009). Advancing the Reform Agenda: Recommendations to the G20 on International Financial Institution Reform. Washington, D. C.
Carin, Barry, and Angela Wood. (2005). Accountability of the International Monetary Fund. Ottawa: International Development Research Centre. (Résumé en français disponible ici)
Leipziger, Danny, et al. (2012). “The Key Challenges Facing the World Bank President: An Independent Diagnostic.” The 1818 Society of the World Bank Group, Washington, D.C. [PDF 500KB]
Malan, Pedro et al. (2007). Report of the External Review Committee on Bank-Fund Collaboration. Washington, D.C.: International Monetary Fund. [PDF 200KB]