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Full-Text Articles in Social and Behavioral Sciences
‘Legitimacy Gaps In The World Economy: Explaining The Sources Of The Imf’S Legitimacy Crisis’, Leonard Seabrooke
‘Legitimacy Gaps In The World Economy: Explaining The Sources Of The Imf’S Legitimacy Crisis’, Leonard Seabrooke
Leonard Seabrooke
Since the Asian financial crisis of 1997–1998, the International Monetary Fund (the Fund) has been embroiled in an international crisis of legitimacy. Assertions of a crisis are premised on the notions that the Fund’s voting system is unfair, that the Fund enforces homogeneous policies onto borrowing member states and that loan programmes tend to fail. Seen this way, poor institutional and policy design has led to a loss of legitimacy. But institutionalised inequalities or policy failure is not in itself sufficient to constitute an international crisis of legitimacy. This article provides a conceptually-driven discussion of the sources of the Fund’s …
‘Seeing Like The Imf: Institutional Change In Small Open Economies’, André Broome, Leonard Seabrooke
‘Seeing Like The Imf: Institutional Change In Small Open Economies’, André Broome, Leonard Seabrooke
Leonard Seabrooke
The International Monetary Fund spends most of its time monitoring its member states’ economic performance and advising on institutional change. While much of the literature sees the Fund as a policy enforcer in ‘emerging market’ and ‘frontier’ economies, little attention has been paid to exploring the Fund’s bilateral surveillance of its Western member states. This article proposes that ‘seeing like the IMF’ provides a dynamic view of how the Fund frames its advice for institutional change. It does so through ‘associational templates’ that do not blindly promote institutional convergence, but appeal for change on the basis of like-characteristics among economies. …