Beyond the World Bank Agenda: An Institutional Approach to Development

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Overview

"In Beyond the World Bank Agenda, Howard Stein argues that the controversial institution is plagued by a myopic, neoclassical mindset that wrongly focuses on individual rationality and downplays the social and political contexts that can either facilitate or impede development." This volume proposes an alternative vision of institutional development with applications to finance, state formation, and health care. It thus provides a holistic, contextualized solution to the problems of developing nations. Beyond the World Bank Agenda will be essential reading for anyone concerned with forging a new strategy for sustainable development.
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Editorial Reviews

Choice

"A fascinating analysis of World Bank policies and lending, focusing primarily on the theory and practice of structural adjustment. . . . The historical aspects of the presentation are especially interesting, as are institutional details in the chapters on financial repression and health policy."
John Weeks
“Every year books, about the World Bank are published. Few make an impact beyond the moment, if at all. This book does more than make an impact: it sets the standard. Its power lies in 1) its historical analysis to place World Bank practice in context, and 2) a sophisticated yet accessible treatment of the economic analysis underlying World Bank practice, and 3) why that economic analysis is fatally flawed. And, most importantly, it indicates the way forward.”
Philip Arestis
Beyond the World Bank Agenda will certainly make an important and novel contribution to the literature. Howard Stein puts forward an institutional approach to development, very different and more akin to the real world than the prevailing view. Commendable.”
Jomo Kwame Sundaram
“Stein offers a critical review of the World Bank’s economic development policy agenda and its theoretical foundations—particularly on state formation, financial development and health policies. His institutionalist perspective points to pragmatic policy alternatives to such increasingly discredited Washington Consensus policies. This book is long overdue.”
William M. Dugger
“This book is dynamite. It blows to pieces the World Bank and the bogus economics it sold to the poor countries of the world. Professor Stein’s indictment of the World Bank pulls no punches, meticulously documenting the gross incompetence and dishonesty behind the World Bank’s failure to reduce world poverty. Stein’s mastery of economic theory is unmatched, as is his knowledge of world poverty, particularly in Africa. You must read his book.”
Choice
"A fascinating analysis of World Bank policies and lending, focusing primarily on the theory and practice of structural adjustment. . . . The historical aspects of the presentation are especially interesting, as are institutional details in the chapters on financial repression and health policy."
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Product Details

  • ISBN-13: 9780226771670
  • Publisher: University of Chicago Press
  • Publication date: 8/15/2008
  • Edition description: New Edition
  • Pages: 320
  • Product dimensions: 6.20 (w) x 9.10 (h) x 1.20 (d)

Meet the Author

Howard Stein is a professor at the University of Michigan’s Department of Afroamerican and African Studies.

 
 

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Table of Contents

List of Illustrations

I Reflections on the History of the World Bank Agenda

Ch. 1 The Ascendancy of Economics in the World Bank, 1944-1979: From Infrastructure to Structural Adjustment 3

Ch. 2 From Structural Adjustment to "Poverty Reduction": Adjustment to the Crisis and the Crisis of Adjustment after 1980 25

II Economic Theory and the World Bank Agenda: A Critical Evaluation

Ch. 3 Economic Theory and Orthodox Reform: Critical Reflections on Structural Adjustment 55

Ch. 4 Institutions and the "Missing Link" in the World Bank's Strategy: Toward a Critique 85

III Beyond the World Bank Agenda: An Institutional Approach to Development

Ch. 5 Building on Lost Foundations: The Institutional Matrix and Socioeconomic Development 111

Ch. 6 State Formation as an Institutional Phenomenon 146

Ch. 7 An Institutional Approach to Financial Development 173

Ch. 8 Transcending Neoliberal Health Policies 207

Ch. 9 Conclusion: Beyond the World Bank Agenda 249

Notes 267

Bibliography 301

Index 327

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