First published in 1984. In these essays, Stanley Please contends that the World Bank is constrained in its ability to use its position and .power in the interests of more rapid development of the poorer countries of the world. These constraints derive in large part from the legal restriction on the Bank to engage primarily in project lending and from the division of responsibility between the ·Bank and its sister institution, the International Monetary Fund (IMF). Although the Bank's financing of projects and investment programs has made a significant contribution, Mr. Please argues that greater Bank involvement in national policy formation can greatly benefit economic development. He looks at ways to increase cooperation between the Bank and the IMF, examines the policy work the Bank has done in the past and assesses the capacity of the Bank for policy formation, evaluates the need for it to do more such work, and discusses the likely responses of developing and developed countries to these changes.
Table of Contents
Preface -- Introduction -- The Global Institutional Context for World Bank Activities -- Structural Adjustment, IMF Conditionality, and the World Bank1 -- Wider Implications of Structural Adjustment Lending -- Trade Policy, Development Policy, and International Monetary Reform -- Trade Policy, Exchange Rate Policy, and the World Bank -- Political, Technocratic, and Style Aspects of World Bank Activities
Stanley Please, currently a consultant to the World Bank and a research scholar at Nuffield College, Oxford, England, was senior advisor to the operational senior vice-president of the World Bank from 1980 to 1983. Previously, he had been director of the World Bank operational programs in eastern Africa and subsequently, in east Asia.