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

By P. Riggirozzi

Drawing at the Latin American political economic climate, this ebook brings to the fore empirical questions about diverse styles of involvement of IFIs in pursuing politically-sensitive reforms, the means of neighborhood actors to persuade results, the context during which they have interaction, the kind of coverage rules conveyed, and the coverage technique which are complex.

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Additional info for Advancing Governance in the South: What Roles for International Financial Institutions in Developing States?

Example text

However, it would be analytically misguided to overemphasize the material and ideological capabilities of the IFIs in shaping the course of policy change; particularly in middle-income countries where financial resources are not reduced to the multilateral donors and, equally important, there is a vibrant and politically influential local network of experts informing policy-making. In this scenario, as this study suggests, the IFIs are almost compelled to avoid what Rodrik (2008: 4) calls the ‘good practices trap’ and engage with the local conveyors of knowledge and policy ideas.

The chapter thus analyses how the emergence of new financial and epistemological schemes affected the role of the multilateral financial institutions. It considers the general argument about the contextual character of power relations and the importance of the political reality of developing countries. It thus extends the analysis moving away from Argentina to a more general review of economic ideas, power relations and policy change in Latin America as a whole. The analysis of specific cases of governance reforms before and after the crisis in Argentina, as well as the broader examination of the current political economic problem in Latin America, shows that in the promotion of politically sensitive reforms IFIs face a dilemma: either they promote governance-related programmes on the basis of preconceived ideas of what constitutes good policies and good reforms, or they engage with local experts to compromise and amalgamate positions, utilizing joint expertise in the framing of policy reforms and their implementation.

Moreover, what is perceived to be politically significant in one society might not resonate as strongly in another. These observations are central to the analysis of different patterns of intervention by the IFIs in developing countries, as well as to different outcomes in terms of power and compliance with external norms. Furthermore, recent crises show that despite having seemingly less room for dissent from the global rule, the dominance of a particular actor or paradigm vis-`a-vis other contending actors or ideas has not been strengthened by the coercive position of the lender over the borrower, but rather by the capacity of the latter to integrate contesting impulses into a broader consensus for policy change.

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