The international economic crisis which began in 2007 has limited developed countries’ growth rates and manifested debt crises in certain economies in the Eurozone. It is the aim of this article to analyze the role that the BRIC group of nations has played in international financial...

Recent mobilization against core tenets of the liberal international order suggests that international institutions lack sufficient societal legitimacy. We argue that these contestations are part of a legitimation dynamic that is endogenous to the political authority of international...

In the World Bank’s last annual report the Federal Republic of Germany was described as a leading member of the World Bank Group (IBRD, IFC and IDA). The Federal Republic has subscribed about $ 1.4 bn to the capital of the World Bank and to date contributed $ 1.1 bn to IDA. The second German...

The World Bank is a genuine investment agency. This fact seems to be self-evident, yet not fully realized by a larger public. At present, the World Bank (IBRD), together with its affiliate, the International Development Association (IDA), is also a multilateral development institution, the...

A fundamental change is emerging in the World Bank's perception of the problems of the debt overhang and in its ideas for development strategies. The author examines the implications for debtor countries.

Following the introduction of its structural adjustment loans the World Bank became the object of the criticism that had until then been directed only at the IMF and its stabilisation and adjustment programmes. This article shows that structural adjustment loans do in fact take the traditional...

Banking/financial crises have occurred in countries at all levels of income and in all parts of the world. These crises not only occur too frequently, but also are too costly. Countries everywhere therefore have enacted laws that established regulatory authorities with responsibility to...

Due to a growing public awareness, in the last 40 years environmental impacts of development projects financed and supported by the World Bank and the International Monetary Fund (IMF) have come into view. Since then, the member states have pressured both organizations to implement environmental...

Motivation: Corruption is often cited as a central reason why development projects fail. The article tests this claim by assessing whether World Bank projects perform worse in implementation environments with a higher corruption level. The article focuses specifically on bribery between public...