Chwieroth, Jeffrey 
ORCID: 0000-0001-8965-0621
(2008)
Normative change from within: the International Monetary Fund's approach to Capital Account Liberalization.
International Studies Quarterly, 52 (1).
pp. 129-158.
ISSN 0020-8833
Abstract
Beginning in the mid-1980s, in the absence of active encouragement from the IMF's management or member states, the staff began to encourage the liberalization of capital controls as a norm. This behavior constitutes a puzzle for the conventional wisdom, which sees the "Wall Street-Treasury Complex" as responsible for the IMF's approach, as well as a blind spot for rationalist approaches, which offer little insight into processes that shape preference formation "from within" international organizations (IOs). In a context where the Fund's member states permitted the staff considerable discretion and autonomy, I argue the staff's initial adoption of the norm of capital freedom was largely shaped by three internal processes: administrative recruitment, adaptation, and learning. But norm adoption did not mean the end of internal discussion, and a vigorous debate emerged between "gradualists" and supporters of the "big bang" over how the norm should be interpreted and applied. In this "battle of ideas," I emphasize the critical role of internal entrepreneurship.
| Item Type: | Article |
|---|---|
| Official URL: | http://www.wiley.com/bw/journal.asp?ref=0020-8833 |
| Additional Information: | © 2008 Wiley-Blackwell |
| Divisions: | International Relations |
| Subjects: | J Political Science > JX International law |
| Date Deposited: | 06 Feb 2009 13:52 |
| Last Modified: | 11 Dec 2024 23:18 |
| URI: | http://eprints.lse.ac.uk/id/eprint/22251 |
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