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Power, ideas, and World Bank conditionality

Cormier, Ben and Manger, Mark S. (2022) Power, ideas, and World Bank conditionality. Review of International Organizations, 17 (3). 397 - 425. ISSN 1559-7431

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Identification Number: 10.1007/s11558-021-09427-z


How and why do the policy areas covered in World Bank loan conditions change over time and across borrowers? We hypothesize that shifts in the Bank’s economic research and policy priorities influence Bank loan conditions, even after controlling for country characteristics and international political aspects. To test this claim we apply keyword-assisted topic models to the analysis of over 13,000 World Bank policy loan conditions and close to 35,000 World Bank research papers published between 1985 and 2014. Contrary to the criticism levelled against the Bank that changes in research and policy priorities are mostly rhetorical and have little substantive effect on Bank lending, we find that internal research and policy priority shifts explain the conditions in a Bank loan at least as well as more traditional donor or borrower-specific measures central to IPE models of Bank lending.

Item Type: Article
Official URL:
Additional Information: © 2021 The Authors, under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature.
Divisions: International Relations
Subjects: H Social Sciences > HG Finance
J Political Science > JZ International relations
Date Deposited: 11 Apr 2022 11:09
Last Modified: 23 Jun 2022 09:30

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