By Liam Clegg
Liam Clegg offers an leading edge examining of the place energy lies within the associations' concessional lending operations, drawing its concentrate on shareholders and stakeholders from staffs' personal understandings in their operational environments.
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Additional resources for Controlling the World Bank and IMF: Shareholders, Stakeholders, and the Politics of Concessional Lending
On balance, however, contemporary trends remained rooted in an ‘asymmetric accommodation’ between these dynamics, with a signiﬁcant tightening-up of shareholder states’ capacity to control IO output occurring alongside more modest improvements to the incorporation of stakeholder groups into decision-making by the Bank and Fund staff. The chapter closes by reviewing the impact of post-Global Financial Crisis developments on this accommodation. Though in a different manner in the two institutions, these shifts have served at the margin to further tip the balance of the asymmetric accommodation in the direction of the Bank and Fund shareholders.
The evolving positive feedback cycle has impacted upon debates within the Bank over how it should conceptualise its mission, and in particular is opening ground for advocates of a multi-dimensional approach to poverty 38 Controlling the World Bank and IMF reduction. The relationship between how internal and external actors understand the Bank continues to unfold in an intricate, dynamic fashion. And overall, this ﬂexible analytic framework, which drawn on the morphogenic conceptualisation of social change, allows us to gain a comprehensive understanding of this process.
1. Performance measurement and norm change at the World Bank In Economy and Society, the magnum opus of Max Weber and one of the founding texts of contemporary institutional analysis, a series of astute insights are put forward regarding the effects of the professionalisation and bureaucratisation of political management. At the nub of Weber’s analysis is the observation, expressed in something close to a tone of admiration, of the potentially crushing power of the bureaucratic structure: As an instrument of rationally organising authority relations, bureaucracy was and is a power instrument of the ﬁrst order for one who controls the bureaucratic apparatus.
Controlling the World Bank and IMF: Shareholders, Stakeholders, and the Politics of Concessional Lending by Liam Clegg