Advancing Governance in the South: What are the Roles for by P. Riggirozzi

By P. Riggirozzi

Drawing at the Latin American political economic climate, this e-book brings to the fore empirical questions about varied styles of involvement of IFIs in pursuing politically-sensitive reforms, the ability of neighborhood actors to persuade results, the context during which they have interaction, the kind of coverage rules conveyed, and the coverage procedure which are complicated.

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Additional resources for Advancing Governance in the South: What are the Roles for International Financial Institutions in Developing States? (International Political Economy)

Example text

The IFIs were defined as core elements in the formation of a ‘transnational managerial class’ involving the governing elites in developing countries (Cox 1987; Robinson 1996). However, these circumstances, like all power relations, are contextdependent and thus unfold in particular circumstances enforced by the confluence of factors – financial survival of developing countries being one of them, and the position of lender of last resort of the IFIs being another. Motivations and incentives of local elites to enter into negotiations and adopt the policy prescriptions of the multilateral lenders are often considered expected consequences.

But, as we argued, overcoming the risk of generalization that somewhat restricts the scope of IPE power must be considered a relational concept. Likewise, to explore policy change, particularly in democratic societies, special attention needs to be given to accommodation and compromise amongst actors’ interests, ideas and political agendas. The framework developed in this chapter will help us to explore the extent to which policy ideas, both held by local actors and framed within the IFIs’ development paradigm, do not exist in a political and ideological vacuum.

Ideas are composed of ‘intersubjective meanings’ shared by almost everyone and ‘collective images’ of social order held by different groups of people. Institutions reflect the power relations and tend to encourage collective images consistent with these power relations. Crucially, Cox argues that disjuncture between these two forms of ideational phenomena is a major source of structural change (1986: 138). In the interactions between lenders and developing countries, it is expected that the World Bank and the IMF promote particular norms in defence of a particular project by championing development paradigms according to specific practices and ideologies – a case in point, for instance, being good governance (Gill 1995, 2000: 4–10).

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