The World Bank Dr. Christopher S. Rice
Council on Foreign Relations
Bretton Woods
 
“ infinite natural resources feeding limitless increasing prosperity”
Institutions: IMF + World Bank
Purposes of the World Bank <ul><li>To assist in the reconstruction and development of members by facilitating the investme...
“ Apolitical Status”
Early Problems
“ If you are going to set up a bank you should set up an organization to finance transactions that will in the end liquida...
The Problem of Low-Quality Loans
 
“ Take my loan - please!”
The Problem of Net Negative Transfers
Other early problems in lending
Source: http://www.ballet.co.uk
 
“ Running any large organization is the same, whether it’s the Ford Motor Co., the Catholic Church, or the Dept. of Defens...
“The fundamental case for developmental assistance is the moral one.  The whole of human history has recognized the princi...
McNamara’s Program: Strategy
McNamara’s Program: Method
“ learning by doing”
Problems with  McNamara’s Approach <ul><li>Isolation </li></ul><ul><li>State-centered approach </li></ul><ul><li>Non-democ...
 
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The World Bank

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Presentation on the World Bank for PS 212 Culture and Politics in the Third World at the University of Kentucky, Summer 2007. Dr. Christopher S. Rice, Instructor.

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The World Bank

  1. 1. The World Bank Dr. Christopher S. Rice
  2. 2. Council on Foreign Relations
  3. 3. Bretton Woods
  4. 5. “ infinite natural resources feeding limitless increasing prosperity”
  5. 6. Institutions: IMF + World Bank
  6. 7. Purposes of the World Bank <ul><li>To assist in the reconstruction and development of members by facilitating the investment of capital for productive purposes (PI) </li></ul><ul><li>To promote the long-range balanced growth of international trade by encouraging international investment, thereby assisting in raising productivity, the standard of living, and conditions of labor. </li></ul>
  7. 8. “ Apolitical Status”
  8. 9. Early Problems
  9. 10. “ If you are going to set up a bank you should set up an organization to finance transactions that will in the end liquidate themselves. Otherwise it is not a bank…Where can we loan thirty to fifty billions around the world with any prospects of it being repaid?” Wilbert Ward, then National City Bank of New York (Citicorp) president (1943)
  10. 11. The Problem of Low-Quality Loans
  11. 13. “ Take my loan - please!”
  12. 14. The Problem of Net Negative Transfers
  13. 15. Other early problems in lending
  14. 16. Source: http://www.ballet.co.uk
  15. 18. “ Running any large organization is the same, whether it’s the Ford Motor Co., the Catholic Church, or the Dept. of Defense. Once you get the certain scale, they’re all the same.” Robert McNamara (1973)
  16. 19. “The fundamental case for developmental assistance is the moral one. The whole of human history has recognized the principle – at least in the abstract – that the rich and powerful have a moral obligation to assist the poor and weak.” Robert McNamara (1973)
  17. 20. McNamara’s Program: Strategy
  18. 21. McNamara’s Program: Method
  19. 22. “ learning by doing”
  20. 23. Problems with McNamara’s Approach <ul><li>Isolation </li></ul><ul><li>State-centered approach </li></ul><ul><li>Non-democratic approach </li></ul><ul><li>Low-Quality Loans Redux </li></ul><ul><li>Universalism </li></ul>

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