The Globalizers: The IMF, the World Bank, and Their Borrowers (Cornell Studies in Money)

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“The IMF and the World Bank have integrated numerous countries into the world economy by requiring governments to confide in global trade, investment, and capital. They’ve not done this out of pure economic zeal. Politics and their own rules and habits provide an explanation for much of why They’ve presented globalization as a solution to challenges They’ve faced on the planet economy.”―from the Introduction

The greatest success of the International Monetary Fund and the World Bank has been as globalizers. But at whose cost? Would borrowing countries be better off without the IMF and World Bank? This book takes readers inside these institutions and the governments they work with. Ngaire Woods brilliantly decodes what they do and why they do it, the use of original research, extensive interviews carried out across many countries and institutions, and scholarship from the fields of economics, law, and politics.

The Globalizers makes a speciality of both the political context of IMF and World Bank actions and their affect on the countries in which they intervene. After describing the important debates between U.S. planners and the Allies in the 1944 foundation at Bretton Woods, she analyzes understandings of their missions during the last quarter century. She traces the affect of the Bank and the Fund in the contemporary economic history of Mexico, of post-Soviet Russia, and in the independent states of Africa. Woods concludes by proposing a range of reforms that would make the World Bank and the IMF more effective, equitable, and just.

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