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Protecting power: how Western states retain the dominant voice in the World Bank’s governance

Vestergaard, Jakob and Wade, Robert H. (2013) Protecting power: how Western states retain the dominant voice in the World Bank’s governance. World Development, 46 . pp. 153-164. ISSN 0305-750X

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Abstract

The global economic crisis raised the urgency of reforming the Bretton Woods organizations in order to get more "buy in" from developing countries. But the "voice" reforms announced in 2010, heralded as a major shift in favor of developing countries, left them severely under-represented relative to their weight in the world economy, both collectively and many individually. This paper reveals how the World Bank and representatives of western states manipulated the process to make voting power changes appear substantial. The paper then discusses alternative voting power systems for the Bank, in light of the generally accepted need to enhance the legitimacy of the organization.

Item Type: Article
Official URL: http://www.journals.elsevier.com/world-development
Additional Information: © 2013 Elsevier Ltd.
Library of Congress subject classification: J Political Science > JF Political institutions (General)
J Political Science > JZ International relations
Sets: Departments > International Development
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 27 Mar 2013 15:11
URL: http://eprints.lse.ac.uk/49521/

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