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Governing Failure
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Over the past two decades, the main organizations involved in financing international development have become preoccupied with the problem of failure. Whether we look back at Joseph Stiglitz’s 1998 seminal lecture, when he was the World Bank’s Chief Economist, on the need to move beyond the “failures of the Washington consensus,” or consider the new Bank President, Kim Jong Kim’s recent insistence that the insti- tution not only acknowledges and learns from past failures but also develops a results-oriented “science of delivery” to avoid them in the future, we find the idea of failure everywhere.1 Even the International Monetary Fund (IMF), which has historically been loath to acknowledge the possibility of failure, has recognized its errors in estimating the economic effects of austerity policies in the context of the European financial crisis.2
This book looks at how this growing preoccupation with failure has changed the way that international financial institutions and major donors do the work of managing development finance. Although their basic objectives have not changed greatly from the days of structural adjustment, how they seek to achieve them has. To capture these changes we need to look at more than the usual analytic categories of interests, objectives and norms, and examine the concrete practices through which key institutional actors do the everyday work of managing finance for development.
Jacqueline Best - Personal Name
1st Edtion
978-1-107-03504-1
NONE
Governing Failure
Corporate Governance
English
Cambridge University Press
2014
USA
1-288
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