Upload
lucas-rizoli
View
14.043
Download
2
Tags:
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
WORLDBANK
Lucas Rizoli Feb. 15, 2008
9
World War 2
Europe & East Asia devastated
Soviet advance
Economic dissatisfaction
US war-time boom
Allies seek economic control
Europe & East Asia devastated
Soviet advance
Economic dissatisfaction
US war-time boom
Allies seek economic control
Pay for reconstruction
Soviet advance
Economic dissatisfaction
US war-time boom
Allies seek economic control
Pay for reconstruction
Establish capitalism
Economic dissatisfaction
US war-time boom
Allies seek economic control
Pay for reconstruction
Establish capitalism
Economic security
US war-time boom
Allies seek economic control
Pay for reconstruction
Establish capitalism
Economic security
Open markets to US
Bretton Woods, 1944
World Bank
Fixed exchange ratesUSD at its heart
International Monetary Fund (IMF)
Open marketsInternational Trade Organization
Bretton Woods, 1944
World Bank
Fixed exchange ratesUSD at its heart
International Monetary Fund (IMF)
Open marketsInternational Trade Organization
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
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
Owned by member states
Buy shares by offering capital
Votes proportional to shares
Owned by member states
Buy shares by offering capital
Votes proportional to shares
President appointed by US President
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
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
European Recovery Program
Marshall Plan
Marshall Plan
$13 billion in US aid to EuropeNo US love for Japan
Grant, not loan
Conditional
Marshall Plan
Pay for reconstruction
Establish capitalism
Economic security
Open markets to US
Marshall Plan
Pay for reconstruction
Establish capitalism
Economic security?
Open markets to US
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
Bank for Reconstruction & DevelopmentDevelopment AssociationFinance CorporationMultilateral Investment Guarantee AgencyCentre for Settlement of Investment Disputes
Bank for Reconstruction & DevelopmentDevelopment AssociationFinance CorporationMultilateral Investment Guarantee AgencyCentre for Settlement of Investment Disputes
Developing,
Developing, emerging,
Developing, emerging, newly industrialized World
Money for countries in need
Bad/no credit
Below-market interest
Money for countries in need
Bad/no credit
Below-market interest
Development & investment
Money for countries in need
Bad/no credit
Below-market interest
Development & investment
Positive effectsEducation, AIDS, corruption, poverty
AIDS
Structural Adjustment
Conditions on loan/grant
Neo-liberal policy changes
Structural Adjustment
Conditions on loan/grant
Neo-liberal policy changes
Cuts to gov’t spending
Structural Adjustment
Conditions on loan/grant
Neo-liberal policy changes
Cuts to gov’t spending
Privatization
Structural Adjustment
Conditions on loan/grant
Neo-liberal policy changes
Cuts to gov’t spending
Privatization
Deregulation
Poverty Reduction Strategies
Conditions on loan/grant
Neo-liberal policy changes
Cuts to gov’t spending
Privatization
Deregulation
Dramatization
Broke-istan
Broke-istan
StructuralAdjustment
$
Broke-istan I.O.U.
StructuralAdjustment
$
Broke-istan
I.O.U.
StructuralAdjustment
$
Broke-istan
StructuralAdjustment
$Multinationals
ForeignInterests
$Branch
Broke-istan
StructuralAdjustment
$Multinationals
ForeignInterests
$
Branch
Broke-istan
StructuralAdjustment Multinationals
ForeignInterests
$
Branch
$
Broke-istan
StructuralAdjustment Multinationals
ForeignInterests
Branch
$$
Broke-istan
StructuralAdjustment Multinationals
ForeignInterests
Branch$
$
$
Broke-istan
StructuralAdjustment Multinationals
ForeignInterests
Branch$
$
$BranchBranch
Broke-istan
StructuralAdjustment Multinationals
ForeignInterests
Branch$
Branch
Branch$
$
$
Broke-istan
StructuralAdjustment Multinationals
ForeignInterests
Branch
$Branch
Branch
$$
$
Broke-istan
StructuralAdjustment Multinationals
ForeignInterests
Branch
$Branch
Branch
$$
$
Broke-istan
StructuralAdjustment Multinationals
ForeignInterests
Branch Branch
Branch
$
$$ $
Broke-istan
StructuralAdjustment Multinationals
ForeignInterests
Branch Branch
Branch
$
$$ $
Broke-istan
StructuralAdjustment Multinationals
ForeignInterests
Branch Branch
Branch
$
Broke-istan
StructuralAdjustment Multinationals
ForeignInterests
BranchBranchBranch
Broke-istan
StructuralAdjustment
Broke-istan
StructuralAdjustment
I.O.U.
Structural adjustments beneficial?
Poor countries at disadvantage
Generate wealth for multinationals
Lack of success stories
Structural adjustments beneficial?
Blamed for a lot
Difficult to measure success
World Bank created to rebuild after WW2
Acts in poor countries
Money and programmes for development
World Bank directed by rich countries
Insist on structural adjustments
Problems, perhaps damage
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