The New Role of the World Bank - Working Paper 421

Michael Clemens
Authors registered in the RePEc Author Service: Michael A. Clemens

No 421, Working Papers from Center for Global Development

Abstract: The World Bank was founded to correct failures in international capital markets. That role has shifted over the past 70 years. Modern analyses should proceed from the premise that the Bank’s central goal is and should be to reduce extreme poverty. We show that the vast majority of donor subsidies to the Bank go to its funding vehicles aimed at the poorest nations. We argue that the Bank’s principal impact arises through its influence on national policies, and that economic theory suggests such influence is often best exerted multilaterally. This view implies new ways to structure and evaluate the institution.

Keywords: World Bank; extreme poverty; multilateralism; evaluation. (search for similar items in EconPapers)
JEL-codes: F35 H87 O19 (search for similar items in EconPapers)
Pages: 48 pages
Date: 2016-01
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Citations: View citations in EconPapers (24)

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Persistent link: https://EconPapers.repec.org/RePEc:cgd:wpaper:421

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