1967 Prize Award Essay: The International Monetary Fund and the Third World

Stephen D. Krasner

International Organization, 1968, vol. 22, issue 3, 670-688

Abstract: International organizations are involved in the development process in several ways: They transfer real resources, offer technical assistance, give advice on development strategy, and collect and collate information. The specialized agencies and other United Nations bodies do not have a tax base of their own; they must rely on the donations of their members for resources. Most of their subscriptions come from the wealthy nations of the world, and most of their grants benefit the poor nations. The UN system acts as a financial intermediary distributing resources between the developed and the underdeveloped worlds. Human, as well as financial, capital is transferred to the less developed nations (LDC's) by the specialized agencies, which provide skilled personnel or training programs for nationals of the LDC's.

Date: 1968
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