A teoria do desenvolvimento econômico e a crise de identidade do banco Mundial
By: Pereira, Luiz Carlos Bresser
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ArticlePublisher: São Paulo : Nobel, jan./mar. 1995Revista de Economia Política = Brazilian Journal of Political Economy 15, 1, p. 5-40Abstract: This paper discusses World Banks identity while surveys development economics. Three crises are identified: (1) the Bank was created to finance state infrastructure projects according to the development economics relevance given to externalities, but since the neoliberal wave dominated Washington, its mission lost clarity; (2) the Bank, that is supposed to finance development, stooped to have a positive cash flow with many developing countries; and (3) the Bank is assumed to support growth of the developing countries, but in the debt crisis it clearly aligned with its major shareholders. Yet, the Bank keeps a major role in the world, as it is increasingly turning into a service institution counts with highly competent economists, as it supports much needed market oriented reforms, and as it promotes investments in human capital
This paper discusses World Banks identity while surveys development economics. Three crises are identified: (1) the Bank was created to finance state infrastructure projects according to the development economics relevance given to externalities, but since the neoliberal wave dominated Washington, its mission lost clarity; (2) the Bank, that is supposed to finance development, stooped to have a positive cash flow with many developing countries; and (3) the Bank is assumed to support growth of the developing countries, but in the debt crisis it clearly aligned with its major shareholders. Yet, the Bank keeps a major role in the world, as it is increasingly turning into a service institution counts with highly competent economists, as it supports much needed market oriented reforms, and as it promotes investments in human capital
Revista de Economia Política 1995
v. 15, n. 1(57)
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