Behind the Development Banks: Washington Politics, World Poverty, and the Wealth of Nations

by Sarah Babb

The World Bank and other multilateral development banks (MDBs) carry out their mission to alleviate poverty and promote economic growth based on the advice of professional economists. But as Sarah Babb argues in Behind the Development Banks, these organizations have also been indelibly shaped by Washington politics—particularly by the legislative branch and its power of the purse.

            Tracing American influence on MDBs over three decades, this volume assesses increased congressional activism and the perpetual “selling” of banks to Congress by the executive branch. Babb contends that congressional reluctance to fund the MDBs has enhanced the influence of the United States on them by making credible America’s threat to abandon the banks if its policy preferences are not followed. At a time when the United States’ role in world affairs is being closely scrutinized, Behind the Development Banks will be necessary reading for anyone interested in how American politics helps determine the fate of developing countries.

 

 

Genres: Economics

336 pages, Paperback

First published January 1, 2009

About the author

Sarah Babb is an Associate Professor in the Department of Sociology at Boston College. Her research focuses on the sociology of economic policy. Some of her early work focused on debates and social movements surrounding monetary policy in the U.S. in the decades immediately following the Civil War. Her first book Managing Mexico, taken from her doctoral dissertation, examine historical changes in the economics profession in Mexico. With Bruce Carruthers, she co-authored a textbook on economic sociology entitled Economy/Society: Markets, Meanings, and Social Structure. She has been awarded a prestigious Woodrow Wilson Fellowship for academic year 2005/06.

Reviews

[A · Rating 4 out of 5]

Great intro book on the MDBs, clearly written