Law Commons^™

Debt And Dependence: Foreign Interference In Haiti And The Importance Of Non-State Actor Accountability, Sandra Wisner, Brian Concannon

Northwestern Journal of Human Rights

Colonialist policies and lending practices by foreign states and non-state actors have led to serious and wide-spread violations of Haitian individuals’ fundamental human rights. In particular, a series of loan conditions imposed by international financial institutions and their members states left Haiti vulnerable to increased food insecurity and a severely diminished social sector. This paper proposes that the imposition of such loan conditions constitutes a violation of foreign actors’ obligations under international law respecting economic, social, cultural, and political rights, as well as their extra-territorial obligations (ETOs) to take joint and separate action to promote and respect human rights beyond …

International Financial Institutions And Their Human Rights Silent Agenda: A Forward-Looking View On The “Protect, Respect And Remedy” Model In Development Finance, Antonio Morelli

American University International Law Review

No abstract provided.

Multilateral Development Banks, Their Member States And Public Accountability: A Proposal, Daniel D. Bradlow

Articles in Law Reviews & Other Academic Journals

More than 25 years ago the multilateral development banks (MDBs) began establishing independent accountability mechanisms (IAMs), such as the World Bank’s Inspection Panel, to address concerns about MDB accountability to those communities and groups who were harmed by their decisions and actions. This essay argues that these mechanisms need updating. In the interests of promoting new and creative thinking about these mechanisms, it makes an ambitious two-part proposal designed to improve the efficacy of the IAMs, while also respecting the sovereignty of their member states and protecting an appropriate level of immunity for the MDBs. First, the MDBs should jointly …

Using A Shield As A Sword: Are International Organizations Abusing Their Immunity?, Daniel D. Bradlow

Articles in Law Reviews & Other Academic Journals

The starting point for this paper is that IOs are as subjects of international law. Since IOs do not control territory or a population and so always operate within the jurisdiction of one of their member states, they are vulnerable to interference by their member states. In order to mitigate this risk, IOs have been granted qualified immunity, usually referred to as functional immunity, from the jurisdiction of their member states. For most of the twentieth century, this grant of functional immunity made sense for two reasons.

First, the founding states envisaged that IOs would have limited capacity to act …

Does The "Good Governance Policy" Of The International Financial Institutions Privilege Markets At The Expense Of Democracy?, Chantal Thomas

Chantal Thomas

No abstract provided.

From "Mission-Creep" To Gestalt-Switch: Justice, Finance, The Ifis, And The Intended Beneficiaries Of Globalization, Robert C. Hockett

Robert C. Hockett

No abstract provided.

The Political Economy Of International Financial Regulation, Pierre-Hugues Verdier

Indiana Law Journal

No abstract provided.

Materials For A 4-Part On-Line Course On Global Financial Governance Offered By United Nations Institute On Training And Research (Unitar), Daniel Bradlow

Daniel D. Bradlow

This is the material for a 4-part on-line course on global financial governance offered by the United Nations Institute for Training and Research (UNITAR). The course, which is offered over 4 weeks, is designed to help participants understand international financial governance and the challenges that it faces. Second, it seeks to aid participants in assessing both the impact the current arrangements for international financial governance have on their countries and regions and the options they may have in responding to the challenges this creates for them. The first module provides a general framework for understanding international financial governance. The second …

Operational Policies And Procedures And An Ombudsman, Daniel D. Bradlow

Daniel D. Bradlow

This paper is about the problems with the administrative practices and procedures in the IMF. It argues that currently the IMF lacks administrative practices and procedures that are consistent with the requirements of good governance. There are 2 requirements for such administrative practices and procedures. The first is clearly articulated and publicly available standards that guide IMF staff in their work and that other stakeholders can utilize in measuring the performance of IMF staff. These standards should set out both the substantive and procedural requirements applicable to the operations of the IMF. The second is a mechanism through which IMF …

Governing Interdependent Financial Systems: Lessons From The Vienna Initiative, Katharina Pistor

Faculty Scholarship

Financial markets have become globally interdependent, yet their governance has remained national at the core. This friction encumbers crisis management and distorts incentives for crisis prevention. The Vienna Initiative, formed to manage the fallout from the global crisis in the countries of Central and Eastern Europe (CEE), offers an alternative coordinated, multi-stakeholder governance framework. A critical prerequisite for such a regime is a coordinating agent, or ‘anchor tenant’, that is deeply vested in the stability of transnational financial systems, but does not directly compete with market actors or regulators. Lessons for more effective governance of financial interdependence are discussed.

Materials For A 4-Part On-Line Course On Global Financial Governance Offered By United Nations Institute On Training And Research (Unitar), Daniel Bradlow

Working Papers

This is the material for a 4-part on-line course on global financial governance offered by the United Nations Institute for Training and Research (UNITAR). The course, which is offered over 4 weeks, is designed to help participants understand international financial governance and the challenges that it faces. Second, it seeks to aid participants in assessing both the impact the current arrangements for international financial governance have on their countries and regions and the options they may have in responding to the challenges this creates for them. The first module provides a general framework for understanding international financial governance. The second …

Reforming Key International Financial Institutions For The 21st Century: Hearing Before The Subcomm. On Security And International Trade And Finance Of The S. Comm. On Banking, Housing, And Urban Affairs, 110th Cong., Aug. 2, 2007 (Statement Of Daniel K. Tarullo, Geo. U. L. Center), Daniel K. Tarullo

Testimony Before Congress

No abstract provided.

The World Bank's Uses Of The "Rule Of Law" Promise In Economic Development, Alvaro Santos

Georgetown Law Faculty Publications and Other Works

In this chapter, the author seeks to disaggregate the World Bank and provide insight on the impact that particular groups have in dominant development strategies. By analyzing the internal dynamics among groups at the Bank, his aim is to illuminate the rise and fall of ideas about development and their resistance to both empirical evidence and academic critique. These internal dynamics include institutional inertia and constraints, groups’ struggle and competition over resources and prestige, and the relationship between groups at the Bank and the governments of borrowing countries.

The argument presented is that the conceptions of the rule of law …

Operational Policies And Procedures And An Ombudsman, Daniel D. Bradlow

Working Papers

This paper is about the problems with the administrative practices and procedures in the IMF. It argues that currently the IMF lacks administrative practices and procedures that are consistent with the requirements of good governance. There are 2 requirements for such administrative practices and procedures. The first is clearly articulated and publicly available standards that guide IMF staff in their work and that other stakeholders can utilize in measuring the performance of IMF staff. These standards should set out both the substantive and procedural requirements applicable to the operations of the IMF. The second is a mechanism through which IMF …

Private Complainants And International Organizations: A Comparative Study Of The Independent Inspection Mechanisms In International Financial Institutions, Daniel D. Bradlow

Articles in Law Reviews & Other Academic Journals

This paper is a comparative study of the independent inspection mechanisms in international financial institutions. These mechanisms, which are an important development in the accountability of international organizations, allow private complainants who believe that they have been harmed or threatened with harm by the failure of these institutions to act in accordance with their own operational rules and procedures to have their complaints investigated by an independent body.

The paper is divided into three parts. In the first part I discuss the structure, functions and procedures of the World Bank's Inspection Panel, the International Finance Corporation's Compliance Advisor Ombudsman, the …

Development Decision Making And The Content Of International Development Law, Daniel D. Bradlow

Articles in Law Reviews & Other Academic Journals

International development law deals with the rights and duties of states and other actors in the development process. As the consensus view of the development process disintegrated during the 1970s and 1980s, the agreement on the content of international development law also began to break down. Today there are two competing idealized views of development. The first, the traditional view, maintains that development is about economic growth, which can be distinguished from other social, cultural, environmental, and political development issues in society. The second, the modern view, maintains that development is an integrated process of change involving intertwined economic, social, …

From "Mission-Creep" To Gestalt-Switch: Justice, Finance, The Ifis, And The Intended Beneficiaries Of Globalization, Robert C. Hockett

Cornell Law Faculty Publications

No abstract provided.

Imf Conditionality As Investment Regulation - A Theoretical Analysis, Daniel R. Kalderimis

ExpressO

This article examines the intersection between the International Monetary Fund (“IMF”) and foreign investment. Although the IMF was not originally designed to regulate foreign investment, IMF policies have famously required capital account liberalization as a condition for access to IMF credit. This article explores the implications of such conditionality and finds it problematic. Investment conditionality is outside the IMF’s mandate, difficult to reconcile with other existing investment regulation instruments, inimical to democracy and potentially destabilizing to the debtor country, and ineffective at ensuring long-term stable change. These conclusions necessitate a reappraisal of the governance and operations of the IMF.

Can World Poverty Be Eliminated?, William F. Felice

Human Rights & Human Welfare

A review of:

World Poverty: New Policies to Defeat an Old Enemy edited by Peter Townsend and David Gordon. Bristol: The Policy Press, 2002. 454pp.

and

World Poverty and Human Rights: Cosmopolitan Responsibilities and Reforms by Thomas Pogge. Malden, MA: Blackwell/Polity, 2002. 264pp.

and

There is an Alternative: Subsistence and Worldwide Resistance to Corporate Globalization edited by Veronica Benholdt-Thomsen, Nicholas Faraclas, and Claudia von Werlhof. New York: Zed Books. 2001. 288pp.

Does The "Good Governance Policy" Of The International Financial Institutions Privilege Markets At The Expense Of Democracy?, Chantal Thomas

Cornell Law Faculty Publications

No abstract provided.

The World Bank, The Imf, And Human Rights, Daniel D. Bradlow

Articles in Law Reviews & Other Academic Journals

This paper explores the type of human rights obligations of the World Bank and the IMF. It argues that their human rights obligations can be divided into two sets of issues. First is operational issues, which relate to both the promotion and protection of human rights. Second is institutional issues, which deal with the internal rules and procedures of the World Bank and the IMF. The paper concludes that these organizations need to develop a coherent and explicit human rights policy.