82

World Bank

Embed Size (px)

DESCRIPTION

What is the World Bank? What does it do? How did it come to be? Why do some people dislike it so much? From the Un-Distinguished Lecture Series (http://ws.cs.ubc.ca/~udls/). The talk was given Feb. 15, 2008.

Citation preview

Page 1: World Bank
Page 2: World Bank

WORLDBANK

Lucas Rizoli Feb. 15, 2008

Page 3: World Bank
Page 4: World Bank
Page 5: World Bank
Page 6: World Bank
Page 7: World Bank

9

Page 8: World Bank

World War 2

Europe & East Asia devastated

Soviet advance

Economic dissatisfaction

US war-time boom

Page 9: World Bank

Allies seek economic control

Europe & East Asia devastated

Soviet advance

Economic dissatisfaction

US war-time boom

Page 10: World Bank

Allies seek economic control

Pay for reconstruction

Soviet advance

Economic dissatisfaction

US war-time boom

Page 11: World Bank

Allies seek economic control

Pay for reconstruction

Establish capitalism

Economic dissatisfaction

US war-time boom

Page 12: World Bank

Allies seek economic control

Pay for reconstruction

Establish capitalism

Economic security

US war-time boom

Page 13: World Bank

Allies seek economic control

Pay for reconstruction

Establish capitalism

Economic security

Open markets to US

Page 14: World Bank
Page 15: World Bank

Bretton Woods, 1944

World Bank

Fixed exchange ratesUSD at its heart

International Monetary Fund (IMF)

Open marketsInternational Trade Organization

Page 16: World Bank

Bretton Woods, 1944

World Bank

Fixed exchange ratesUSD at its heart

International Monetary Fund (IMF)

Open marketsInternational Trade Organization

Page 17: World Bank
Page 18: World Bank

1946 HQ in Washington DC

Capitalization of $12 billion

1947 $250 million to France

$195 million to Netherlands

$ 40 million to Denmark

1948 $ 16 million to Chile

$ 34 million to India

Page 19: World Bank

1946 HQ in Washington DC

Capitalization of $12 billion

1947 $250 million to France

$195 million to Netherlands

$ 40 million to Denmark

1948 $ 16 million to Chile

$ 34 million to India

Page 20: World Bank
Page 21: World Bank
Page 22: World Bank
Page 23: World Bank

Owned by member states

Buy shares by offering capital

Votes proportional to shares

Page 24: World Bank

Owned by member states

Buy shares by offering capital

Votes proportional to shares

President appointed by US President

Page 25: World Bank

Owned by member states

Buy shares by offering capital

Votes proportional to shares

President appointed by US President

Changes to Charter require 85% majorityUS can block any change

Page 26: World Bank

1946 HQ in Washington DC

Capitalization of $12 billion

1947 $250 million to France

$195 million to Netherlands

$ 40 million to Denmark

1948 $ 16 million to Chile

$ 34 million to India

Page 27: World Bank

European Recovery Program

Page 28: World Bank

Marshall Plan

Page 29: World Bank

Marshall Plan

$13 billion in US aid to EuropeNo US love for Japan

Grant, not loan

Conditional

Page 30: World Bank

Marshall Plan

Pay for reconstruction

Establish capitalism

Economic security

Open markets to US

Page 31: World Bank

Marshall Plan

Pay for reconstruction

Establish capitalism

Economic security?

Open markets to US

Page 32: World Bank

1946 HQ in Washington DC

Capitalization of $12 billion

1947 $250 million to France

$195 million to Netherlands

$ 40 million to Denmark

1948 $ 16 million to Chile

$ 34 million to India

Page 33: World Bank

Bank for Reconstruction & DevelopmentDevelopment AssociationFinance CorporationMultilateral Investment Guarantee AgencyCentre for Settlement of Investment Disputes

Page 34: World Bank

Bank for Reconstruction & DevelopmentDevelopment AssociationFinance CorporationMultilateral Investment Guarantee AgencyCentre for Settlement of Investment Disputes

Page 35: World Bank

Developing,

Page 36: World Bank

Developing, emerging,

Page 37: World Bank

Developing, emerging, newly industrialized World

Page 38: World Bank
Page 39: World Bank
Page 40: World Bank
Page 41: World Bank

Money for countries in need

Bad/no credit

Below-market interest

Page 42: World Bank

Money for countries in need

Bad/no credit

Below-market interest

Development & investment

Page 43: World Bank

Money for countries in need

Bad/no credit

Below-market interest

Development & investment

Positive effectsEducation, AIDS, corruption, poverty

Page 44: World Bank
Page 45: World Bank

AIDS

Page 46: World Bank
Page 47: World Bank
Page 48: World Bank
Page 49: World Bank

Structural Adjustment

Conditions on loan/grant

Neo-liberal policy changes

Page 50: World Bank

Structural Adjustment

Conditions on loan/grant

Neo-liberal policy changes

Cuts to gov’t spending

Page 51: World Bank

Structural Adjustment

Conditions on loan/grant

Neo-liberal policy changes

Cuts to gov’t spending

Privatization

Page 52: World Bank

Structural Adjustment

Conditions on loan/grant

Neo-liberal policy changes

Cuts to gov’t spending

Privatization

Deregulation

Page 53: World Bank

Poverty Reduction Strategies

Conditions on loan/grant

Neo-liberal policy changes

Cuts to gov’t spending

Privatization

Deregulation

Page 54: World Bank

Dramatization

Page 55: World Bank
Page 56: World Bank
Page 57: World Bank

Broke-istan

Page 58: World Bank

Broke-istan

StructuralAdjustment

$

Page 59: World Bank

Broke-istan I.O.U.

StructuralAdjustment

$

Page 60: World Bank

Broke-istan

I.O.U.

StructuralAdjustment

$

Page 61: World Bank

Broke-istan

StructuralAdjustment

$Multinationals

ForeignInterests

$Branch

Page 62: World Bank

Broke-istan

StructuralAdjustment

$Multinationals

ForeignInterests

$

Branch

Page 63: World Bank

Broke-istan

StructuralAdjustment Multinationals

ForeignInterests

$

Branch

$

Page 64: World Bank

Broke-istan

StructuralAdjustment Multinationals

ForeignInterests

Branch

$$

Page 65: World Bank

Broke-istan

StructuralAdjustment Multinationals

ForeignInterests

Branch$

$

$

Page 66: World Bank

Broke-istan

StructuralAdjustment Multinationals

ForeignInterests

Branch$

$

$BranchBranch

Page 67: World Bank

Broke-istan

StructuralAdjustment Multinationals

ForeignInterests

Branch$

Branch

Branch$

$

$

Page 68: World Bank

Broke-istan

StructuralAdjustment Multinationals

ForeignInterests

Branch

$Branch

Branch

$$

$

Page 69: World Bank

Broke-istan

StructuralAdjustment Multinationals

ForeignInterests

Branch

$Branch

Branch

$$

$

Page 70: World Bank

Broke-istan

StructuralAdjustment Multinationals

ForeignInterests

Branch Branch

Branch

$

$$ $

Page 71: World Bank

Broke-istan

StructuralAdjustment Multinationals

ForeignInterests

Branch Branch

Branch

$

$$ $

Page 72: World Bank

Broke-istan

StructuralAdjustment Multinationals

ForeignInterests

Branch Branch

Branch

$

Page 73: World Bank

Broke-istan

StructuralAdjustment Multinationals

ForeignInterests

BranchBranchBranch

Page 74: World Bank

Broke-istan

StructuralAdjustment

Page 75: World Bank

Broke-istan

StructuralAdjustment

I.O.U.

Page 76: World Bank

Structural adjustments beneficial?

Poor countries at disadvantage

Generate wealth for multinationals

Lack of success stories

Page 77: World Bank

Structural adjustments beneficial?

Blamed for a lot

Difficult to measure success

Page 78: World Bank
Page 79: World Bank

World Bank created to rebuild after WW2

Acts in poor countries

Money and programmes for development

Page 80: World Bank
Page 81: World Bank

World Bank directed by rich countries

Insist on structural adjustments

Problems, perhaps damage

Page 82: World Bank

Image CreditsPhoosh

Economics class

Matthew BradleyWorld Bank PR Vampire’s card

Greg SchmigelProtester March to IMF, Washington DC

AheavensWolfowitz (both)

LarsjMount Washington Hotel, Bretton Woods, NH, USA

Nick WiebeStephen Lewis

Curt Carnemark, World BankPortrait of curious boy, IndonesiaLiving and sleeping on streets, IndiaConstruction workers, ChinaTeacher and schoolchildren, BhutanFurniture factory, Ghana

Ray Witlin, World BankWorker in field, India.

US National Archives via PingNews.comRobert McNamara Briefing (NARA)

Wikipedia(Adapted from) Industrialized countries 2007