Owning Development: Creating Policy Norms in the IMF and the World Bank

Half-title......Page 3
Title......Page 5
Copyright......Page 6
Contents......Page 7
Figures......Page 9
Tables......Page 10
Contributors......Page 11
Preface and acknowledgements......Page 13
Acronyms and abbreviations......Page 17
Part One Introduction......Page 21
Introduction......Page 23
Theorizing the Bretton Woods institutions in the world economy......Page 28
Power- and material-based accounts of IO behaviour and change......Page 30
Constructivist and ideas-based accounts of IO behaviour and change......Page 33
Policy norm formation and the norm circle......Page 39
Norm emergence......Page 41
Norm stabilization......Page 42
Norm contestation......Page 43
Organization of the book......Page 44
Part Two Norm emergence......Page 47
Introduction......Page 49
Norm building: external support for debt relief......Page 53
Opposing debt relief to devising the HIPC policy norm......Page 59
IMF staff push for a limited version of the HIPC initiative......Page 63
Conclusion......Page 66
Introduction......Page 68
Externalization and objectivation of the World Bank’s pension reform policy norm: the three-pillar pension model......Page 72
The Bank’s persuasion efforts for its pensions policy norm......Page 75
Arguing about the World Bank’s three-pillar pension model......Page 77
Negotiation: the World Bank’s shift from the three- to the five-pillar pension model......Page 81
Stabilization of the policy norm on old age security......Page 86
Conclusion......Page 87
Introduction......Page 90
Gender and development in the World Bank......Page 92
Pre-Beijing evolution of gender and development in the World Bank......Page 94
The Beijing juncture......Page 97
Strategic mainstreaming, post-Beijing......Page 98
Tactic I: leverage politics and resource mobilization......Page 99
Tactic II: accountability without coercion......Page 101
Tactic III: persuasion via proof......Page 104
Tactic IV: strategic framing......Page 106
A Faustian bargain?......Page 107
Conclusion......Page 108
Part Three Norm stabilization......Page 111
Introduction......Page 113
The creation of policy norms: how do IOs ‘tick’?......Page 115
Social practices and contextualization: tracing the social development policy norm in IMF policies......Page 119
The realization of income distribution......Page 120
The era of social safety nets......Page 123
The discovery of poverty reduction......Page 126
Conclusion: owning development or lacking ownership?......Page 130
Introduction: lessons from history......Page 133
Norm ambiguity and the emergence of global monetary norms......Page 136
Currency speculation and convertibility in Europe......Page 141
Currency convertibility and policy credibility in developing countries......Page 146
Conclusion: convertibility as an IMF success story?......Page 154
Introduction......Page 157
Sources of the Fund’s legitimacy crisis......Page 161
Legitimacy gaps and taxation reform......Page 164
Fund advice for tax reform in East Asia......Page 169
Resolutions?......Page 178
Part Four Norm subsiding......Page 181
Introduction......Page 183
Towards an explanation of the rise and fall of the capital mobility policy norm......Page 184
Rewriting the Bretton Woods Consensus......Page 188
Justifying the need for a policy norm of capital mobility......Page 189
Making capital mobility an obligation: the capital account amendment......Page 191
The impact of the Asian financial crisis......Page 193
Conclusion: the norm is dead, long live the idea......Page 197
Introduction......Page 201
An emerging global safeguard policy norm in the World Bank......Page 203
Stabilizing the safeguard policy norm: institutionalization and contestation......Page 209
Decline of the global safeguard policy norm?......Page 218
Conclusion......Page 222
Introduction......Page 224
The NPM and the World Bank......Page 226
The NPM policy norm and the World Bank......Page 229
The World Bank and state modernization in Chile and Argentina – what space for NPM?......Page 232
State modernization agenda: what and when?......Page 233
Different World Bank strategies for different settings......Page 237
Conclusion......Page 240
Part Five Conclusion......Page 243
Ideas versus power-based explanations of policy norm formation and change......Page 245
The power of policy norms and triggers for change......Page 251
Policy norms within the norm circle: identifying mechanisms for change......Page 255
Do policy norms reconstitute global development?......Page 261
Conclusion......Page 266
Bibliography......Page 268
Index......Page 301