The New Role for the World Bank
Bibliographic Data
| ID | 4029622 |
|---|---|
| Authors | Michael A Clemens (0000-0003-1354-0965, Michael Clemens is a Senior Fellow, Center for Global Development, Washington, DC. He is also a Research Fellow of the Institute for the Study of Labor (IZA) in Bonn, Germany.), Michael Kremer (0000-0002-4382-817X, Michael Kremer is the Gates Professor of Developing Societies, Harvard University, and Research Associate, National Bureau of Economic Research, both in Cambridge, Massachusetts.) |
| Year | 2016 |
| Volume | 30 |
| Issue | 1 |
| Pages | 53-76 |
| Publication date | 2016-02-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic Perspectives (JOURNAL) |
| Journal identifiers | ISSN: 0895-3309 • E-ISSN: 1944-7965 |
| Publisher | American Economic Association (PUBLISHER • US) |
| DOI | 10.1257/jep.30.1.53 |
| OpenAlex | W2262033402 |
| Language | EN |
| Citations received | 21 |
| References cited | 48 |
The World Bank was founded to address what we would today call imperfections in international capital markets. Its founders thought that countries would borrow from the Bank temporarily until they grew enough to borrow commercially. Some critiques and analyses of the Bank are based on the assumption that this continues to be its role. For example, some argue that the growth of private capital flows to the developing world has rendered the Bank irrelevant. However, we will argue that modern analyses should proceed from the premise that the World Bank's central goal is and should be to reduce extreme poverty, and that addressing failures in global capital markets is now of subsidiary importance. In this paper, we discuss what the Bank does: how it spends money, how it influences policy, and how it presents its mission. We argue that the role of the Bank is now best understood as facilitating international agreements to reduce poverty, and we examine implications of this perspective
Business · Central bank · China · Chinese financial system · Developing country · Economic growth · Economics · Monetary economics · Monetary policy · Political science · Poverty · Premise · International Development and Aid · Law · Local Government Finance and Decentralization · Poverty, Education, and Child Welfare
Law, Regulation, and the Business Climate
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Navigating Regime Complexes in Turbulent Times—The EU’s Interaction with Other International Organizations in Crises
Multilateral messaging
Emerging trends in peacebuilding
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The European Union as an International Donor
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Poor targeting
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Aid Management, Trust, and Development Policy Influence
Pleasing the Principal
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Conditional Cash Transfers
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The Illusion of Sustainability
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Community-based health insurance in low-income countries
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Contracting for aid
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The World Bank at the Millennium
Positioning the World Bank
Markets and States in Tropical Africa
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Anomalies
Reforming the World Bank
Standardization for Transnational Diffusion
| Unique citing works | 21 |
|---|---|
| Citations per year | 1,91 |
| Citation span | 2015 - 2026 (12) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 20 |