The theory of economic development and the World Bank’s identity crisis

Luiz Carlos Bresser-Pereira ()

Brazilian Journal of Political Economy, 1995, vol. 15, issue 1, 1-40

Abstract: This paper discusses World Bank’s identity while surveys development economics. Three crises are identified: (1) the Bank was created to finance state infrastructure projects according to the development economics relevance given to externalities, but since the neoliberal wave dominated Washington, its mission lost clarity; (2) the Bank, that is supposed to finance development, stooped to have a positive cash flow with many developing countries; and (3) the Bank is assumed to support growth of the developing countries, but in the debt crisis it clearly aligned with its major shareholders. Yet, the Bank keeps a major role in the world, as it is increasingly turning into a service institution counts with highly competent economists, as it supports much needed market oriented reforms, and as it promotes investments in human capital JEL Classification: O10; F34

Keywords: World Bank; Economic development; new-developmentalism (search for similar items in EconPapers)
Date: 1995
References: Add references at CitEc
Citations:

Downloads: (external link)
https://centrodeeconomiapolitica.org/repojs/index. ... ticle/view/1223/1208 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ekm:repojs:v:15:y:1995:i:1:p:1-40:id:1223

Access Statistics for this article

More articles in Brazilian Journal of Political Economy from Center of Political Economy
Bibliographic data for series maintained by Brazilian Journal of Political Economy (Brazil) ().