By P. Riggirozzi
Drawing at the Latin American political economic system, this booklet brings to the fore empirical questions about diversified styles of involvement of IFIs in pursuing politically-sensitive reforms, the skill of neighborhood actors to persuade results, the context within which they have interaction, the kind of coverage rules conveyed, and the coverage procedure which are complicated.
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Extra resources for Advancing Governance in the South: What Roles for International Financial Institutions in Developing States?
Institutions reﬂect the power relations and tend to encourage collective images consistent with these power relations. Crucially, Cox argues that disjuncture between these two forms of ideational phenomena is a major source of structural change (1986: 138). In the interactions between lenders and developing countries, it is expected that the World Bank and the IMF promote particular norms in defence of a particular project by championing development paradigms according to speciﬁc practices and ideologies – a case in point, for instance, being good governance (Gill 1995, 2000: 4–10).
Once engaged in social relations, actors may have the ability to shape the interests of others. The ﬁnancial weight and authority of multilateral institutions gives them a unique capacity to combine ﬁnancial strategies with authoritative ideas in pursuit of politically sensitive reforms in developing countries (Bøas and McNeill 2004). By and large, developing countries’ dependency on ﬁnancial support has empowered the IFIs to advance policy change in areas, sometimes beyond their strict economic mandate.
The crisis in Argentina in 2001 demonstrated that this is even more the case if formal democracy encourages a logic of exclusion that is reinforced by top-down forms of intervention on the part of the IFIs. This is also the case when what is technical for the IFIs becomes a political matter for the local civil society. Taking from these lessons, Chapter 7 analyses, from a broader and comparative perspective, the challenges for the IFIs in a context in which the current neoliberal model became discredited and eroded in Latin America.
Advancing Governance in the South: What Roles for International Financial Institutions in Developing States? by P. Riggirozzi