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Drawing at the Latin American political economic system, this publication brings to the fore empirical questions about varied styles of involvement of IFIs in pursuing politically-sensitive reforms, the means of neighborhood actors to steer results, the context within which they have interaction, the kind of coverage principles conveyed, and the coverage technique which are complicated.
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Additional info for Advancing Governance in the South: What are the Roles for International Financial Institutions in Developing States? (International Political Economy)
This chapter proves empirically that the power of the World Bank to advance governance norms is explained by the capacity of external actors to combine funds and networking activities to gain the consent of local actors – beyond the government – to implement policy change effectively. Extending the discussion of power relations and governance reforms in the context of crisis of neoliberalism, Chapter 6 focuses on Argentina’s post-crisis resolution. In December 2001 the crisis conﬁrmed the comprehensive failure of neoliberalism to deliver stable and equitable growth.
The ﬁnancial and trade opportunities that the ‘new globalizers’ bring is unquestionably important to the emergence of power dynamics as they support and encourage new conﬁgurations of social relations, relations of production and a new space for an ideological redeﬁnition. 28 Advancing Governance in the South This brings to question not only the relevance and effectiveness of the IFIs but more importantly the extent to which new actors in the developing world can become the platform for dissent from the global rule.
While persuasion and transfer of normative ideas has been strongly emphasized by some accounts as important attributes in explaining how knowledge and policy paradigms translate into practice (for example, Finnemore 1996; Keck and Sikkink 1998; Barnett and Finnemore 1999), the instances of governance reform in Argentina suggest that persuasion and transfer by themselves do not make the difference. Surveillance and consensus cannot necessarily be taken as an expected consequence of the IFIs’ knowledge agenda, but rather as the result of effective compromise between policy frameworks.
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