Political Economy of the World Bank: The Early Years

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Stanford University Press, Mar 9, 2009 - Business & Economics - 216 pages
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The Political Economy of the World Bank: The Early Years is a fascinating study of economic history. This text describes perhaps what is the most crucial time for development economics: the birth of the "third world," the creation of development economics as a discipline, and the establishment of the World Bank's leading role in development.

Using previously unavailable archival material, Michele Alacevich takes a close look at the years during which the International Bank for Reconstruction and Development—now known as the World Bank— turned its attention from reconstruction to development, having been upstaged by the Marshall Plan.He describes the "Currie Mission" to Colombia (1949–1954), the World Bank's first general survey mission in a developing nation. With the Currie Mission as a starting point and a case study, Alacevich analyzes the complexities of the Bank's first steps toward economic and social development in poorer nations, and helps the reader understand some foundational questions about development that are still of great relevance today.

The Political Economy of the World Bank: The Early Years is essential reading for anyone interested in the economic history of international development as a lens for better understanding current development issues.
 

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Contents

the world bank and development
1
the currie mission in colombia 19491953
11
The Collaboration Between Lauchlin Currie and the IBRD
22
economic development in theory
64
Balanced Growth
70
Program Loans Versus
76
Monetary and Fiscal Policy
83
at the root of the banks policy advice
112
conclusions
147
Notes
155
Bibliography
185
Index of Names
195
Copyright

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About the author (2009)

Michele Alacevich is a researcher at the University of Palermo, Italy. He also serves as consulting historian to the World Bank. His main areas of research are the history of international relations, of economic development, and of development economics after World War II.

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